Synopsys Q4 Profit Down

(RTTNews) - Synopsys Inc. (SNPS) Wednesday reported fourth-quarter net income of $49.8 million or $0.31 per share, down from $62.5 million or $0.39 per share last year.

Adjusted earnings for the quarter were $0.67 per share, up from $0.64 per share last year.

Revenues for the quarter rose to $587.2 million from $539.0 million last year.

Analysts polled by Thomson Reuters estimated earnings of $0.66 per share on revenues of $577.13 million for the quarter. Analysts' estimates typically exclude special items.

Looking forward to the first quarter, the company expects adjusted earnings of $0.60 to $0.63 per share and revenues of $560 million to $575 million. Analysts currently estimate earnings of $0.73 per share on revenues of $573.16 million.

For the full year, the company expects earnings of $2.93 to $3.00 per share and revenues of $2.35 billion to $2.39 billion. Analysts currently estimate earnings of $2.97 per share and revenues of $2.38 billion.