Synopsys Posts Financial Results for Third Quarter Fiscal Year 2020

Forward-Looking Statements

This press release contains forward-looking statements including, but not limited to, statements regarding Synopsys' short-term and long-term financial targets, expectations and objectives; business outlook, opportunities and strategies; customer demand and market expansion; strategies related to our products and technology; our planned product releases and capabilities; industry growth rates; software trends; planned acquisitions and buybacks; our expected tax rate; the expected impact of U.S. and foreign government action on our results; and the expected impact of the COVID-19 pandemic. These statements involve risks, uncertainties and other factors that could cause our actual results, time frames or achievements to differ materially from those expressed or implied in our forward-looking statements. Such risks, uncertainties and factors include, but are not limited to: risks from the effect of the COVID-19 pandemic and the associated economic downturn on our business, operations and financial condition; uncertainty in the growth of the semiconductor and electronics industries; consolidation among our customers and our dependence on a relatively small number of large customers; risks and compliance obligations relating to the global nature of our operations as well as actions by the U.S. or foreign governments, such as measures in response to the COVID-19 pandemic or the imposition of additional tariffs or export restrictions; macroeconomic conditions and uncertainty in the global economy; fluctuation of our operating results; increased variability in our revenue due to the adoption of ASC 606, including the resulting increase in recognizing upfront revenue as a percentage of total revenue; and more. Additional information on potential risks, uncertainties and other factors that could affect Synopsys' results is included in filings it makes with the Securities and Exchange Commission from time to time, including in the sections entitled "Risk Factors" in its Annual Report on Form 10-K for the fiscal year ended October 31, 2019 and its latest Quarterly Report on Form 10-Q. The information provided herein is as of August 19, 2020. Synopsys undertakes no duty, and does not intend to update any forward-looking statement, whether as a result of new information, future events or otherwise, unless required by law.

INVESTOR CONTACT:
Lisa L. Ewbank
Synopsys, Inc.
650-584-1901
Synopsys-ir@synopsys.com 

EDITORIAL CONTACT:
Simone Souza
Synopsys, Inc.
650-584-6454
simone@synopsys.com



SYNOPSYS, INC.

Unaudited Consolidated Statements of Operations (1)

(in thousands, except per share amounts)


















Three Months Ended 


Nine Months Ended


July 31,


July 31,


2020


2019


2020


2019

Revenue:








  Time-based products

$               612,065


$               537,569


$            1,758,601


$            1,649,590

  Upfront products

210,931


177,552


491,417


451,466

  Maintenance and service

141,138


137,849


409,824


408,557

      Total revenue

964,134


852,970


2,659,842


2,509,613

Cost of revenue:








  Products

118,478


113,533


344,469


346,163

  Maintenance and service

60,812


59,496


184,940


178,113

  Amortization of intangible assets

13,718


13,603


40,732


45,927

     Total cost of revenue

193,008


186,632


570,141


570,203

Gross margin

771,126


666,338


2,089,701


1,939,410

Operating expenses:








  Research and development

322,602


284,804


939,456


846,429

  Sales and marketing

156,456


157,109


455,511


471,720

  General and administrative

73,516


67,382


204,734


165,794

  Amortization of intangible assets 

9,931


10,111


29,545


31,211

  Restructuring charges

(1,977)


19,338


36,446


33,746

     Total operating expenses

560,528


538,744


1,665,692


1,548,900

Operating income

210,598


127,594


424,009


390,510

Other income (expense), net

26,256


5,317


22,584


23,373

Income before income taxes

236,854


132,911


446,593


413,883

Provision (benefit) for income taxes

(16,057)


32,982


(20,299)


42,230

Net income

$               252,911


$                 99,929


$               466,892


$               371,653









Net income per share:








  Basic

$                     1.67


$                     0.67


$                     3.10


$                     2.48

  Diluted

$                     1.62


$                     0.65


$                     3.01


$                     2.42









Shares used in computing per share amounts:








  Basic

151,352


150,123


150,731


149,708

  Diluted

155,973


154,600


155,074


153,859











« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8  Next Page »



Review Article Be the first to review this article

Featured Video
Jobs
GIS Analyst for Union County NC at Monroe, California
ArcGIS Maps for SharePoint Product Engineer for ESRI at Redlands, California
GIS Manager for Union County NC at Monroe, California
Transportation Specialist - Department of Transportation - (2100115) for City of San Jose at San José,, California
GIS Manager - Technical Support Group / Public Works for City Of Topeka at Topeka, Kansas
Director, Industrial Machinery Solutions- SISW PLM for Siemens AG at Livonia, Michigan
Upcoming Events
Milipol Asia-Pacific 2021 at Singapore - Mar 23 - 25, 2021
Geo Connect Asia 2021 at Suntec Singapore - Mar 24 - 25, 2021
NextGen SCADA Global 2021 at United Kingdom - Mar 24 - 25, 2021
University of Denver GIS Masters Degree Online



© 2021 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise