Synopsys Q3 Adj. Profit Tops View - Quick Facts

(RTTNews) - Synopsys, Inc. (SNPS) reported net income for the third quarter of $65.7 million or $0.42 per share, compared to $52.3 million or $0.33 per share for the year-ago quarter.

Excluding items, adjusted net income for the latest third quarter was $103.2 million or $0.65 per share, up from $86.5 million or $0.55 per share in the comparable quarter last year. On average, eight analysts polled by Thomson Reuters expected the company to earn $0.60 per share. Analysts' estimates typically exclude special items.

Revenue for the third quarter grew 8.0% to $521.81 million from $482.95 million a year earlier, while eight analysts had a consensus revenue estimate of $521.01 million for the third quarter.

Looking forward to the fourth quarter, the company expects earnings per share in the range of $0.32 - $0.38, adjusted earnings per share of $0.59 - $0.61 and revenue in the order of $537 million - $547 million. Analysts currently expect the company to earn $0.63 per share on revenue of $546.98 million for the fourth quarter.

For the fiscal year 2014, the company now expects earnings in the range of $1.57 - $1.63 per share, adjusted earnings of $2.48 - $2.50 per share and revenue in the order of $2.06 billion - $2.07 billion. Earlier, the company forecast earnings per share of $1.55 - $1.68, adjusted earnings per share of $2.45 - $2.50 and revenue in the order of $2.05 billion - $2.08 billion.

Analysts currently expect the company to earn $2.48 per share on revenue of $2.07 billion for the fiscal year 2014.