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Synopsys profit misses consensus by 47.9% in fiscal Q3

Synopsys, Inc. said its normalized net income for the fiscal third quarter ended July 31 amounted to 48 cents per share, compared with the S&P Capital IQ consensus estimate of 92 cents per share.

EPS rose 38.7% year over year from 35 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $74.3 million, an increase of 39.4% from $53.3 million in the year-earlier period.

The normalized profit margin increased to 10.7% from 8.7% in the year-earlier period.

Total revenue rose 13.0% on an annual basis to $695.4 million from $615.2 million, and total operating expenses grew 8.5% from the prior-year period to $584.0 million from $538.5 million.

Reported net income increased 79.5% on an annual basis to $116.0 million, or 75 cents per share, from $64.6 million, or 42 cents per share.