CIMdata PLM Industry Summary Online Archive
22 August 2013
Financial News
Synopsys Third-Quarter Profit Down 31% on Taxes, Expenses
Synopsys Inc.'s (SNPS) fiscal third-quarter profit fell 31% as higher taxes and expenses wiped away a rise in revenue for the provider of chip design-software.
Synopsys makes design software for the development and testing of chips. The company has posted stronger core results in recent years, as competition among chip makers drives customers to spend more to develop smaller and better-performing designs. Synopsys has benefited from three-year licensing agreements it signs with customers, as well as chip makers' continued healthy investment in research and development.
For the quarter ended July 31, Synopsys reported a profit of $52.3 million, down from $75.7 million a year earlier. Revenue improved 8.8% to $482.9 million. Gross margin narrowed to 76.1% from 77.5%, as input costs rose 16%.
For the full year, Revenue is expected to come in at $1.957 billion to $1.967 billion, compared with its prior view of $1.955 billion to $1.975 billion.
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