In addition to any risks that we highlight during this call, important factors that may affect our future results are described in our annual report on Form 10-Q for the year ended October 31, 2011, our earnings release for the first quarter of fiscal year 2012 and our press release announcing the closing of the Magma acquisition issued this morning.
All financial information to be discussed on this conference call, the reconciliation of the non-GAAP financial measures to their most directly comparable GAAP financial measures and supplemental financial information can be found in the current report on Form 8-K that we filed today, our first quarter earnings release and our financial supplement. All of these items are currently available on our website at www.synopsys.com. With that, I'll turn the call over to Aart de Geus.
Aart J. de Geus
Good afternoon, and thank you for joining us. Today, I'm happy to report excellent Q1 results and raised guidance for FY 2012, as well as the closing of the acquisition of Magma Design Automation, announced this morning.Let me begin with the summary of our results. Our business in Q1 was strong across the board. We met or beat every target we communicated last quarter, including revenue of $425.5 million and non-GAAP earnings per share of $0.56. We are well on track to meeting our non-GAAP operating margin and cash flow targets for the year. As a result, we're raising our outlook for the year, independent of the Magma acquisition, to a new earnings per share guidance range of $1.97 to $2.03. Brian will provide more financial detail in just a minute. Regarding Magma Design Automation, we have much work to do as the acquisition literally closed a few hours ago. We're enthusiastic about the prospects for the joint company, as the merger will allow us to accelerate delivery of technology to customers at a time of very rapid system and silicon evolution.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV