Synopsys Q3 Profit Down - Quick Facts

(RTTNews) - Synopsys Inc. (SNPS) Wednesday reported third-quarter net income of $52.3 million or $0.33 per share, compared to $75.7 million or $0.50 per share last year.

On an adjusted basis, net income for the third quarter was $86.5 million or $0.55 per share, compared to $82.3 million or $0.55 per share last year. On average, six analysts polled by Thomson Reuters estimated earnings of $0.63 per share for the quarter. Analysts' estimates typically exclude special items.

Synopsys reported revenue of $482.9 million, up 8.8 percent compared to $443.7 million in the third quarter last year. Analysts had consensus revenue estimate of $481.9 million for the quarter.

Looking forward to the fourth quarter, the company expects earnings of $0.29 to $0.35 per share, adjusted earnings of $0.54 to $0.56 per share and revenues of $500 million to $510 million. Analysts currently estimate earnings of $0.56 per share on revenues of $513.99 million for the quarter.

For the full year 2013, the company now expects earnings of $1.51to $1.57 per share, adjusted earnings of $2.42 to $2.44 per share and revenues of $1.957 billion to $1.967 billion.

Analysts currently estimate earnings of $2.42 per share and revenues of $1.97 billion for the year.

Previously, the company expected net earnings of $1.48 to $1.56 per share, adjusted earnings of $2.37 to $2.42 per share and revenues of $1.955 billion to $1.975 billion.