Synopsys, Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Synopsys, Inc. (SNPS) revealed earnings for its first quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $313.7 million, or $1.99 per share. This compares with $162.3 million, or $1.03 per share, in last year's first quarter.

Excluding items, Synopsys, Inc. reported adjusted earnings of $376.9 million or $2.40 per share for the period.

Analysts on average had expected the company to earn $2.37 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 30.9% to $1.27 billion from $970.3 million last year.

Synopsys, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $313.7 Mln. vs. $162.3 Mln. last year. -EPS (Q1): $1.99 vs. $1.03 last year. -Analyst Estimate: $2.37 -Revenue (Q1): $1.27 Bln vs. $970.3 Mln last year.

-Guidance: Next quarter EPS guidance: $1.67-$1.78 Next quarter revenue guidance: $1.24-$1.27 Bln Full year EPS guidance: $5.53-$5.72 Full year revenue guidance: $4.77-$4.83 Bln