Synopsys Q1 Adj. Profit Tops View; Lifts FY14 EPS Outlook - Quick Facts

(RTTNews) - Synopsys Inc. (SNPS) Wednesday reported first-quarter profit of $67.7 million or $0.43 per share, compared to $69.9 million or $0.45 per share in the same period last year.

Adjusted earnings for the quarter was $93.1 million or $0.59 per share, down from $103.0 million or $0.67 per share in the year-ago quarter. On average, seven analysts polled by Thomson Reuters expected the company to earn $0.52 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased to $478.95 million from $475.14 million last year. Analysts expected revenues of $480.86 million.

Looking ahead to the second quarter, the company has forecast earnings in the range of $0.33 to $0.41 per share, with adjusted earnings ranging between $0.60 and $0.62 per share and revenues in the order of $505 million to $515 million. Analysts currently expect the company to earn $0.64 per share on second-quarter revenues of $516.47 million.

For the fiscal year 2014, the company currently projects earnings in the range of $1.72 to $1.83 per share, with adjusted earnings in the order of $2.55 to $2.60 per share.

Revenues are expected to range between $2.03 billion and $2.07 billion. Analysts currently expect the company to report full-year earnings of $2.56 per share on revenues of $2.07 billion.

Earlier, the company projected earnings in the range of $1.69 to $1.82 per share and revenues in the range of $2.06 billion and $2.085 billion.