Synopsys, Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Synopsys, Inc. (SNPS) reported earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $271.54 million, or $1.75 per share. This compares with $313.69 million, or $1.99 per share, in last year's first quarter.

Excluding items, Synopsys, Inc. reported adjusted earnings of $406.67 million or $2.62 per share for the period.

Analysts on average had expected the company to earn $2.50 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.1% to $1.36 billion from $1.27 billion last year.

Synopsys, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $271.54 Mln. vs. $313.69 Mln. last year. -EPS (Q1): $1.75 vs. $1.99 last year. -Analyst Estimates: $2.50 -Revenue (Q1): $1.36 Bln vs. $1.27 Bln last year.

-Guidance: Next quarter EPS guidance: $2.45 - $2.50 Next quarter revenue guidance: $1,360 - $1,390 Mln Full year EPS guidance: $10.53 - $10.60 Full year revenue guidance: $5,775 - $5,825 Mln