Synopsys Inc. (NASDAQ: SNPS) said on Wednesday that its financial performance in the fiscal fourth quarter was better than last year. The earnings report came only weeks after Synopsys acquired precision optical measurements provider Light Tec.
Synopsys Inc was reported about 0.5% down in extended trading on Wednesday. On a year to date basis, its shares are currently more than 55% up in the stock market after an over 100% recovery since late March.
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Synopsys reports £770 million of revenue in Q4
Synopsys said that its revenue in the fourth quarter came in at £770 million versus a much lower £636.62 million in the same quarter last year. The electronic design automation company reported 94 pence per share of GAAP earnings in the recent quarter. On an adjusted basis, the company earned a higher £1.18 per share in Q4.
The American company also published its full-year financial results on Wednesday that were also upbeat on an annualised basis. Synopsys said it generated total revenue of £2.76 billion in fiscal 2020 that represents a 9.6% growth on a year over year basis.
The Mountain View-based company registered £3.19 per share of annual GAAP earnings. On an adjusted basis, it earned a higher £4.15 per share in the recently concluded financial year. In separate news from the United States, Salesforce also published its quarterly financial update on Tuesday.
According to Synopsys, it had £920 million of cash and cash equivalents at the end of fiscal 2020. It valued its cash flow from operations at £741.49 million on Wednesday.
Synopsys’ guidance for the fiscal first quarter
Chairman Aart de Geus commented on the earnings report on Wednesday and said:
“Looking forward, market demand is strong, fuelled by complex technologies and a multitude of high-profile verticals. Our innovation engine continues to deliver highly advanced capabilities throughout the portfolio. In fiscal 2021, we aim to surpass $4 billion in revenue, with continued non-GAAP operating margin expansion, low-to-mid teens non-GAAP earnings per share growth, and more than $1 billion in operating cash flow.”
For the fiscal first quarter, Synopsys now forecasts its revenue to fall in the range of £699.38 million to £721.82 million. Its estimate for per-share earnings (GAAP) n Q1 stands at 79 pence per share to 870 pence per share.
At the time of writing, Synopsys is valued at £25.51 billion and has a price to earnings ratio of 55.59.
