Synopsys Tops Estimates

But profit falls from a year ago.
By Ivy Lessner ,

SAN FRANCISCO -- Synopsys' (SNPS) - Get Report second-quarter profit fell from a year ago, but the results beat analysts' estimates and the company raised full-year guidance.

Revenue at the developer of software tools for the design of integrated circuits grew 10.8% to $324.6 million, from $292.9 million for the same period of 2007. Analysts polled by Thomson Reuters were expecting revenue of $321.2 million.

But net income at the Mountain View, Calif., company fell 4.6% to $39.4 million, or 27 cents a share, from $41.3 million, or 28 cents a share, one year ago.

Excluding special items, EPS was 41 cents, three cents ahead of analysts' estimates.

Shares were down 44 cents, or 1.8%, to $24.25 in extended trading.

For the third quarter, Synopsys said third-quarter revenue would range from $335 million to $343 million and EPS, excluding items, would be 38 cents to 40 cents. Analysts were projecting a top line of $330.3 million and EPS, excluding items, of 39 cents.

The company raised full-year projections. Revenue will range from $1.325 billion to $1.34 billion, from previous guidance for a range of $1.3 billion to $1.32 billion. Guidance for EPS, excluding items, was raised to a range of $1.60 to $1.64, from a prior range of $1.56 to $1.61. Analysts were expecting a top line of $1.32 billion and EPS, less items, of $1.61.

The company competes in the market for chip-design tools against

Cadence Design Systems

(CDNS) - Get Report

and

Mentor Graphics

(MENT)

.

Loading ...