Synopsys Guides In Line

SAN FRANCISCO -- Chip-design software maker Synopsys (SNPS Quote - Cramer on SNPS - Stock Picks) beat analysts' forecast in the third quarter and issued in-line guidance for the upcoming quarter.

Mountain View, Calif.-based Synopsis said Wednesday that in the third quarter ended July 31, it earned $24.9 million, or 17 cents a share, an increase from EPS of 5 cents last year.

Excluding items, Synopsys earned 32 cents a share, up from 21 cents a year ago, and 2 cents more than analysts at Thomson First Call forecast.

Revenue increased to $304.1 million from $277.2 million a year ago, topping the consensus estimate of $300.64 million.

After hours shares recently lost 76 cents to $25. They closed the regular session off 74 cents, or 2.96%, to $25.76.

For the coming, or fourth quarter, Synopsis forecast EPS in the range of 34 cents to 37 cents vs. consensus of 35 cents. Revenue of $300 million to $310 million was in line with analysts' forecast of $308.6 million.