Synopsys Posts Financial Results for Fourth Quarter and Fiscal Year 2019

 

SYNOPSYS, INC.

Unaudited Reconciliation of Consolidated Statements of Operations
Under ASC 606 & ASC 605 (1)

(in thousands, except per share amounts)














Three Months Ended 


October 31, 2019


As reported under
ASC 606


Adjustments


Balances under
ASC 605

Revenue:






  Time-based products

$               548,375


$       48,682


$          597,057

  Upfront products

168,325


(84,288)


84,037

  Maintenance and service

134,381


(16,330)


118,051

      Total revenue

851,081


(51,936)


799,145

Cost of revenue:






  Products

112,964




112,964

  Maintenance and service

56,083




56,083

  Amortization of intangible assets

13,696




13,696

     Total cost of revenue

182,743


-


182,743

Gross margin

668,338


(51,936)


616,402

Operating expenses:






  Research and development

290,503




290,503

  Sales and marketing

161,170


(6,274)


154,896

  General and administrative

63,424




63,424

  Amortization of intangible assets 

10,080




10,080

  Restructuring charges

13,440




13,440

     Total operating expenses

538,617


(6,274)


532,343

Operating income

129,721


(45,662)


84,059

Other income (expense), net

1,902


-


1,902

Income before income taxes

131,623


(45,662)


85,961

Provision (benefit) for income taxes

(29,091)


(6,301)


(35,392)

Net income (loss)

$               160,714


$      (39,361)


$          121,353







Net income (loss) per share:






  Basic

$                     1.07


$          (0.26)


$                0.81

  Diluted

$                     1.04


$          (0.25)


$                0.79







Shares used in computing per share amounts:






  Basic

150,367




150,367

  Diluted

154,532




154,532


(1)  Synopsys' fourth quarter of fiscal year 2019 ended on November 2, 2019. For presentation purposes, we refer to the closest calendar month end.


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