Synopsys Q1 Profit Tops Estimates; Raises FY15 Earnings Targets - Quick Facts

(RTTNews) - Synopsys Inc. (SNPS) reported first-quarter net income of $65.19 million or $0.41 per share, compared to $67.70 million or $0.43 per share, prior year. On a non-GAAP basis, net income for the first quarter of fiscal 2015 was $125.7 million, or $0.80 per share.

On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.62 for the quarter. Analysts' estimates typically exclude special items.

Revenue increased to $542.04 million from $478.95 million last year. Analysts expected revenue of $541.84 million for the quarter.

For its second quarter, the company expects: revenue of $543 million - $553 million; GAAP earnings per share of $0.26 - $0.33; and non-GAAP earnings per share of $0.62 - $0.64. Analysts expect the company to report second-quarter earnings per share of $0.65 on revenue of $544.27 million.

For fiscal 2015, the company targets: revenue in the range of $2.195 billion - $2.235 billion; GAAP earnings per share of $1.41 - $1.50; and non-GAAP earnings per share of $2.75 - $2.80. Analysts expect the company to report fiscal 2015 earnings per share of $2.72 on revenue of $2.21 billion.