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Synopsys profit misses consensus by 37.0% in fiscal Q1

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Synopsys profit misses consensus by 37.0% in fiscal Q1

Synopsys, Inc. said its normalized net income for the fiscal first quarter ended Jan. 31 came to 49 cents per share, compared with the S&P Capital IQ consensus estimate of 78 cents per share.

EPS rose 84.3% year over year from 27 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $76.1 million, an increase of 83.3% from $41.5 million in the prior-year period.

The normalized profit margin increased to 11.7% from 7.3% in the year-earlier period.

Total revenue climbed 14.8% year over year to $652.8 million from $568.6 million, and total operating expenses rose 9.8% from the prior-year period to $543.8 million from $495.4 million.

Reported net income rose 42.8% year over year to $86.5 million, or 56 cents per share, from $60.6 million, or 39 cents per share.