Synopsys Tops View; Q4 Earnings Outlook Weak, Cuts Top End Of FY Guidance

(RTTNews) - Synopsys Inc (SNPS), a provider of electronic design automation software products, on Wednesday reported third-quarter net earnings of $55.4 million or $0.35 per share compared with $65.7 million or $0.42 per share last year.

Excluding items, adjusted earnings for the quarter were $0.63 per share compared with $0.65 per share a year ago.

Revenues for the quarter were $555.8 million compared with $521.8 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.59 per share on revenues of $555.4 million for the quarter. Analysts' estimates typically exclude special items.

For the fourth quarter, the company expects adjusted earnings of $0.65 to $0.67 per share on revenues of $570 million to $585 million. Analysts expect earnings of $0.70 per share on revenues of $571.94 million.

For the full year 2015, the company now expects adjusted earnings of $2.76 to $2.78 per share on revenues of $2.23 billion to $2.24 billion. Earlier it expected earnings of $2.76 to $2.81 per share on revenues of $2.21 billion to $2.24 billion.

Analysts expect earnings of $2.78 per share on revenues of $2.23 billion for the year.