Synopsys, Inc. has reported results for its first quarter of fiscal year 2014.
For the first quarter of fiscal year 2014, Synopsys reported revenue of $479.0 million, compared to $475.1 million for the first quarter of fiscal 2013, an increase of approximately 1 percent.
"Synopsys began the year with a strong first quarter, featuring continued customer successes and excellent progress preparing for a number of upcoming product announcements," said Aart de Geus, chairman and co-CEO of Synopsys. "While customers are cautious in their spending, technology demands continue unabated, making great EDA and IP solutions essential for their success."
GAAP Results
On a generally accepted accounting principles (GAAP) basis, net income for the first quarter of fiscal 2014 was$67.7 million, or $0.43 per share, compared to $69.9 million, or $0.45 per share, for the first quarter of fiscal 2013.
Non-GAAP Results
On a non-GAAP basis, net income for the first quarter of fiscal 2014 was $93.1 million, or $0.59 per share, compared to non-GAAP net income of $103.0 million, or $0.67 per share, for the first quarter of fiscal 2013. Reconciliation between GAAP and non-GAAP results is provided at the end of this press release.
Fiscal first quarter 2013 GAAP and non-GAAP results included the impact of the reinstatement of the federal R&D tax credit for 2012 and 2013.
To view an unabridged version of this press release, visit: http://news.synopsys.com/2014-02-19-Synopsys-Posts-Financial-Results-for-First-Quarter-Fiscal-Year-2014
