Synopsys Beats Estimates

SAN FRANCISCO -- Synopsys(SNPS Quote) sidestepped the dour outlook of its competitors in its first-quarter earnings report, doubling its bottom line and boosting full-year EPS guidance.

The Mountain View, Calif., developer of semiconductor-design software reported a top line of $315.5 million, up 5% from revenue of $300.2 million for the same period of last year. Analysts were expecting $312.9 million, according to Thomson Financial.

Synopsys reported that profit nearly doubled to $46.4 million, or 31 cents a share, from $23.4 million, or 16 cents a share, in the year-ago period.

Excluding items, EPS was 44 cents, well ahead of analysts' expectations for 38 cents a share. ...