Synopsys Results Top Estimates; Q3 Outlook Weak, Lifts FY Guidance

(RTTNews) - Synopsys Inc (SNPS), a key player in the electronic design automation industry, on Wednesday reported second-quarter net earnings of $55.6 million or $0.35 per share compared with $63.3 million or $0.40 per share last year.

Excluding items, adjusted earnings for the quarter were $0.68 per share compared with $0.65 per share a year ago.

Revenues for the quarter were higher at $557.2 million compared with $517.7 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.63 per share on revenues of $546.5 million for the quarter. Analysts' estimates typically exclude special items.

For the second quarter, the company expects adjusted earnings of $0.58 to $0.60 per share on revenues of $550 million to $560 million. Analysts expect earnings of $0.66 per share on revenues of $557.4 million.

For the full year 2015, the company now expects adjusted earnings of $2.76 to $2.81 per share on revenues of $2.21 billion to $2.24 billion. Earlier it expected earnings of $2.75 to $2.80 per share on revenues of $2.20 billion to $2.24 billion.

Analysts expect earnings of $2.78 per share on revenues of $2.22 billion for the year.