Investors looking for sales growth in a technology company needn't look farther than
The maker of software used in semiconductor design said revenue jumped 27% year-over-year to $300.4 million in its third quarter, reflecting a big jump in revenue from licenses. The top line beat analyst estimates by about $1 million. Earnings were $48.5 million, or 60 cents a share, compared with a loss of $137.6 million, or $1.93 a share, last year. The year-ago loss reflected some big acquisition charges.
Pro forma before goodwill expense, the company earned $66.9 million, or 82 cents a share, up from $39.7 million, or 53 cents a share, last year. Analysts polled by Thomson First Call were predicting earnings of 80 cents a share on that basis.
For the fourth quarter, the company predicted sales of $305 million to $320 million and earnings of 77 cents to 84 cents a share. The analysts consensus is for revenue of $318 million and earnings of 84 cents a share.
The company also said it will split its shares 2-for-1 Sept. 23 for stock of record Sept. 2. Synopsys closed Wednesday at $68.19, down 81 cents, or 1.1%. In after hours trading, the shares were down another $2.39, or 3.5%, to $65.80. They remain about $4 higher than their levels in early August when
profiled the company favorably and are $25 above their March 11 price.