UPDATE: Synopsys FQ4 Profit Drops 27%
Synopsys (NASDAQ: SNPS) reported a 27% drop in its fiscal fourth-quarter profit.
Synopsys' quarterly profit fell to $29.1 million, or $0.19 per share, from $39.9 million, or $0.27 per share, in the year-ago period. Excluding one-time items, Synopsys earned $0.47 per share.
Its revenue rose 16% to $454.2 million. Synopsys in August had expected earnings of $0.46 to $0.48 per share on revenue of $440 million to $448 million.
Its gross margin declined to 77.4% from 78.1%.
Synopsys projects adjusted earnings of $2.26 to $2.31 per share on revenue of $1.96 billion to $1.98 billion. However, analysts were expecting earnings of $2.28 per share on revenue of $1.88 billion.
Synopsys shares gained 0.81% to $33.60 in after-hours trading.
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