SUNNYVALE, Calif. (AP) — SUNNYVALE, Calif. (AP) — Synopsys Inc. (SNPS) on Wednesday reported fiscal fourth-quarter profit of $448.7 million.
The Sunnyvale, California-based company said it had profit of $2.39 per share. Earnings, adjusted for one-time gains and costs, were $2.90 per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.79 per share.
The maker of software used to test and develop chips posted revenue of $2.25 billion in the period, meeting Street forecasts.
For the year, the company reported profit of $1.33 billion, or $8.04 per share. Revenue was reported as $7.05 billion.
For the current quarter ending in January, Synopsys expects its per-share earnings to range from $3.52 to $3.58.
The company said it expects revenue in the range of $2.37 billion to $2.42 billion for the fiscal first quarter.
Synopsys expects full-year earnings in the range of $14.32 to $14.40 per share, with revenue ranging from $9.56 billion to $9.66 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SNPS at https://www.zacks.com/ap/SNPS
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