Q3 2015 Financial Highlights
(PRNewswire) — Synopsys, Inc. (Nasdaq: SNPS) today reported results for its third quarter of fiscal year 2015.For the third quarter of fiscal year 2015, Synopsys reported revenue of $555.8 million, compared to $521.8 million for the third quarter of fiscal 2014, an increase of 6.5 percent.
"Synopsys delivered strong third quarter results, and expects to exit the year with approximately 10% non-GAAP earnings per share growth," said Aart de Geus, chairman and co-CEO of Synopsys. "Our new products are driving excellent customer design success and adoption momentum. In addition, we closed several acquisitions, further strengthening our IP portfolio and expanding our presence in the higher-growth software quality and security market."
GAAP Results
On a generally accepted accounting principles (GAAP) basis, net income for the third quarter of fiscal 2015 was $55.4 million, or $0.35 per share, compared to $65.7 million, or $0.42 per share, for the third quarter of fiscal 2014.
Non-GAAP Results
On a non-GAAP basis, net income for the third quarter of fiscal 2015 was $99.7 million, or $0.63 per share, compared to non-GAAP net income of $103.2 million, or $0.65 per share, for the third quarter of fiscal 2014. Reconciliation between GAAP and non-GAAP results is provided below.
Financial Targets
Synopsys also provided its financial targets for the fourth quarter and full fiscal year 2015. These targets do not include any impact of future acquisition-related activities or costs that may be incurred in the remainder of fiscal year 2015. These targets constitute forward-looking statements and are based on current expectations. For a discussion of factors that could cause actual results to differ materially from these targets, see "Forward-Looking Statements" below.
Fourth Quarter of Fiscal Year 2015 Targets:
- Revenue: $570 million - $585 million
- GAAP expenses: $503 million - $521 million
- Non-GAAP expenses: $450 million - $460 million
- Other income and expense: $0 - $2 million
- Tax rate applied in non-GAAP net income calculations: 19 - 20 percent
- Fully diluted outstanding shares: 155 million - 159 million
- GAAP earnings per share: $0.31 - $0.38
- Non-GAAP earnings per share: $0.65 - $0.67
Full Fiscal Year 2015 Targets:
- Revenue: $2.225 billion - $2.240 billion
- Other income and expense: $10 million - $12 million
- Tax rate applied in non-GAAP net income calculations: 19 - 20 percent
- Fully diluted outstanding shares: 155 million - 159 million
- GAAP earnings per share: $1.43 - $1.50
- Non-GAAP earnings per share: $2.76 - $2.78
- Cash flow from operations: approximately $450 million
GAAP Reconciliation
Synopsys continues to provide all information required in accordance with GAAP, but believes evaluating its ongoing operating results may not be as useful if an investor is limited to reviewing only GAAP financial measures. Accordingly, Synopsys presents non-GAAP financial measures in reporting its financial results to provide investors with an additional tool to evaluate Synopsys' operating results in a manner that focuses on what Synopsys believes to be its ongoing business operations and what Synopsys uses to evaluate its ongoing operations and for internal planning and forecasting purposes. Synopsys' management does not itself, nor does it suggest that investors should, consider such non-GAAP financial measures in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Synopsys' management believes it is useful for itself and investors to review, as applicable, both GAAP information that includes: (i) the amortization of acquired intangible assets, (ii) the impact of stock compensation, (iii) acquisition-related costs, (iv) other significant items, including restructuring charges and certain accruals for legal and tax matters, and (v) the income tax effect of non-GAAP pre-tax adjustments as well as unusual or infrequent tax adjustments; and the non-GAAP measures that exclude such information in order to assess the performance of Synopsys' business and for planning and forecasting in subsequent periods. Whenever Synopsys uses a non-GAAP financial measure, it provides a reconciliation of the non-GAAP financial measure to the most closely applicable GAAP financial measure. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measure as detailed below.
Reconciliation of Third Quarter Fiscal Year 2015 Results
The following tables reconcile the specific items excluded from GAAP in the calculation of non-GAAP net income and earnings per share for the periods indicated below.
GAAP to Non-GAAP Reconciliation of Third Quarter Fiscal Year 2015 Results | |||||||
(unaudited and in thousands, except per share amounts) | |||||||
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Nine Months Ended | ||||
|
July 31, |
|
July 31, | ||||
|
2015 |
|
2014 |
|
2015 |
|
2014 |
GAAP net income |
$ 55,387 |
|
$ 65,656 |
|
$ 176,172 |
|
$ 196,669 |
Adjustments: |
|
|
|
|
|
|
|
Amortization of intangible assets |
32,892 |
|
32,809 |
|
97,248 |
|
92,990 |
Stock compensation |
23,905 |
|
21,399 |
|
64,769 |
|
58,340 |
Acquisition-related costs |
4,431 |
|
36 |
|
8,615 |
|
5,484 |
Restructuring charges |
(248) |
|
- |
|
15,088 |
|
- |
Legal and tax matters |
(10,270) |
|
(2,981) |
|
(11,789) |
|
(15,288) |
Tax adjustments |
(6,419) |
|
(13,768) |
|
(17,195) |
|
(40,262) |
Non-GAAP net income |
$ 99,678 |
|
$ 103,151 |
|
$ 332,908 |
|
$ 297,933 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Nine Months Ended | ||||
|
July 31, |
|
July 31, | ||||
|
2015 |
|
2014 |
|
2015 |
|
2014 |
GAAP net income per share |
$ 0.35 |
|
$ 0.42 |
|
$ 1.12 |
|
$ 1.25 |
Adjustments: |
|
|
|
|
|
|
|
Amortization of intangible assets |
0.21 |
|
0.21 |
|
0.62 |
|
0.59 |
Stock compensation |
0.14 |
|
0.14 |
|
0.40 |
|
0.37 |
Acquisition-related costs |
0.03 |
|
0.00 |
|
0.05 |
|
0.04 |
Restructuring charges |
- |
|
- |
|
0.10 |
|
- |
Legal and tax matters |
(0.06) |
|
(0.03) |
|
(0.07) |
|
(0.10) |
Tax adjustments |
(0.04) |
|
(0.09) |
|
(0.11) |
|
(0.26) |
Non-GAAP net income per share |
$ 0.63 |
|
$ 0.65 |
|
$ 2.11 |
|
$ 1.89 |
|
|
|
|
|
|
|
|
Shares used in calculation |
158,584 |
|
157,622 |
|
157,850 |
|
157,253 |
Reconciliation of Target Non-GAAP Operating Results
The following tables reconcile the specific items excluded from GAAP in the calculation of target non-GAAP operating results for the periods indicated below.
GAAP to Non-GAAP Reconciliation of Fourth Quarter Fiscal Year 2015 Targets | |||
(in thousands, except per share amounts) | |||
|
|
|
|
|
Range for Three Months | ||
|
Ending October 31, 2015 (1) | ||
|
Low |
|
High |
Target GAAP expenses |
$ 503,000 |
|
$ 521,000 |
Adjustments: |
|
|
|
Estimated impact of amortization of intangible assets |
(33,000) |
|
(36,000) |
Estimated impact of stock compensation |
(20,000) |
|
(25,000) |
Target non-GAAP expenses |
$ 450,000 |
|
$ 460,000 |
|
|
|
|
|
|
|
|
|
Range for Three Months | ||
|
Ending October 31, 2015 (1) | ||
|
Low |
|
High |
Target GAAP earnings per share |
$ 0.31 |
|
$ 0.38 |
Adjustments: |
|
|
|
Estimated impact of amortization of intangible assets |
0.23 |
|
0.21 |
Estimated impact of stock compensation |
0.16 |
|
0.13 |
Estimated impact of tax adjustments |
(0.05) |
|
(0.05) |
Target non-GAAP earnings per share |
$ 0.65 |
|
$ 0.67 |
|
|
|
|
Shares used in non-GAAP calculation (midpoint of target range) |
157,000 |
|
157,000 |
|
|
|
|
|
|
|
|
GAAP to Non-GAAP Reconciliation of Full Fiscal Year 2015 Targets | |||
|
|
|
|
|
Range for Fiscal Year | ||
|
Ending October 31, 2015 (1) | ||
|
Low |
|
High |
Target GAAP earnings per share |
$ 1.43 |
|
$ 1.50 |
Adjustments: |
|
|
|
Estimated impact of amortization of intangible assets |
0.85 |
|
0.83 |
Estimated impact of stock compensation |
0.57 |
|
0.54 |
Acquisition-related costs |
0.05 |
|
0.05 |
Restructuring charges |
0.10 |
|
0.10 |
Legal and tax matters |
(0.07) |
|
(0.07) |
Estimated net non-GAAP tax adjustments |
(0.17) |
|
(0.17) |
Target non-GAAP earnings per share |
$ 2.76 |
|
$ 2.78 |
|
|
|
|
Shares used in non-GAAP calculation (midpoint of target range) |
157,000 |
|
157,000 |
| |
(1) Synopsys' fourth quarter and fiscal year end on October 31, 2015. |
Earnings Call Open to Investors
Synopsys will hold a conference call for financial analysts and investors today at 2:00 p.m. Pacific Time. A live webcast of the call will be available at Synopsys' corporate website at www.synopsys.com. A recording of the call will be available by calling +1-800-475-6701 (+1-320-365-3844 for international callers), access code 366153, beginning at 4:00 p.m. Pacific Time today. A webcast replay will also be available on the website from approximately 5:30 p.m. Pacific Time today through the time Synopsys announces its results for the fourth quarter and fiscal year 2015 in December 2015. Synopsys will post copies of the prepared remarks of Aart de Geus, chairman and co-chief executive officer, and Trac Pham, chief financial officer, on its website following the call. In addition, Synopsys makes additional information available in a financial supplement and corporate overview presentation also posted on the corporate website.
Effectiveness of Information
The targets included in this release, the statements made during the earnings conference call and the information contained in the financial supplement and corporate overview presentation (available in the Investor Relations section of Synopsys' website at www.synopsys.com) represent Synopsys' expectations and beliefs as of the date of this release only. Although this press release, copies of the prepared remarks of the co-chief executive officer and chief financial officer made during the call, the financial supplement, and corporate overview presentation will remain available on Synopsys' website through the date of the fourth quarter and fiscal year 2015 earnings call in December 2015, their continued availability through such date does not mean that Synopsys is reaffirming or confirming their continued validity. Synopsys does not currently intend to report on its progress during the fourth quarter of fiscal year 2015 or comment to analysts or investors on, or otherwise update, the targets given in this earnings release.
Availability of Final Financial Statements
Synopsys will include final financial statements for the third quarter fiscal 2015 in its quarterly report on Form 10-Q to be filed by Sept. 10, 2015.
About Synopsys
Synopsys, Inc. (Nasdaq: SNPS) is the Silicon to Softwareâ„¢ partner for innovative companies developing the electronic products and software applications we rely on every day. As the world's 15th largest software company, Synopsys has a long history of being a global leader in electronic design automation (EDA) and semiconductor IP, and is also growing its leadership in software quality and security solutions. Whether you're a system-on-chip (SoC) designer creating advanced semiconductors, or a software developer writing applications that require the highest quality and security, Synopsys has the solutions needed to deliver innovative, high-quality, secure products. Learn more at www.synopsys.com.
Forward-Looking Statements
This press release and our upcoming earnings results conference call contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Any statements that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements include but are not limited to: sections of this press release entitled "Financial Targets" and "Reconciliation of Target Non-GAAP Operating Results"; and statements regarding Synopsys' business, acquisitions, products, technologies, business model, new markets, customer demand for our technology, and projected financial results and business objectives. These statements involve known and unknown risks, uncertainties and other factors that could cause our actual results, time frames or achievements to differ materially from those expressed or implied in our forward-looking statements. Accordingly, we caution stockholders and prospective investors not to place undue reliance on these statements. Such risks, uncertainties and factors include, but are not limited to:
- continued uncertainty in the global economy and its potential impact on the semiconductor and electronics industries;
- uncertainty in the growth of the semiconductor and electronics industry, and consolidation among our customers;
- increased competition in the market for Synopsys' products and services including through consolidation in the industry;
- changes in demand for Synopsys' products due to fluctuations in demand for its customers' products;
- Synopsys' ability to realize the potential financial or strategic benefits of acquisitions it completes, including challenges in entering new markets in which Synopsys is not experienced and in the integration of the products and operations of acquired companies or assets into Synopsys' products and operations, which could result in possible delays in customer orders, potential loss of customers, key employees, partners or vendors, uncertain customer demand and support obligations for product offerings, and disruption of ongoing business operations and diversion of management attention;
- adverse changes in the relationships between Synopsys and key participants in the complex semiconductor ecosystem, including major foundries and intellectual property providers;
- litigation;
- lower-than-anticipated new IC design starts;
- lower-than-anticipated purchases or delays in purchases of products or consulting services by Synopsys' customers, including delays in the renewal, or non-renewal, of Synopsys' license arrangements with major customers;
- changes in accounting principles or standards or in the way they are applied;
- changes in the mix of time-based licenses and upfront licenses;
- variability in the timing of revenue recognition due to factors such as payment terms and the timing and value of contract renewals and professional services projects;
- lower-than-expected orders; and
- failure of customers to pay license fees as scheduled.
In addition, Synopsys' actual expenses, earnings per share and tax rate on a GAAP and non-GAAP basis for the fiscal quarter ending Oct. 31, 2015; actual expenses, earnings per share, tax rate, and other projections on a GAAP and non-GAAP basis for fiscal year 2015; and cash flow from operations on a GAAP basis for fiscal year 2015 could differ materially from the targets stated under "Financial Targets" above for a number of reasons, including, but not limited to, (i) integration and other acquisition-related costs, (ii) application of the actual consolidated GAAP and non-GAAP tax rates for such periods, or judgment by management, based upon the status of pending audits and settlements, to increase or decrease an income tax asset or liability, (iii) a determination by Synopsys that any portion of its goodwill or intangible assets has become impaired, (iv) changes in the anticipated amount of employee stock-based compensation expense recognized in Synopsys' financial statements, (v) actual change in the fair value of Synopsys' non-qualified deferred compensation plan obligations, (vi) increases or decreases to estimated capital expenditures, (vii) changes driven by new accounting rules, regulations, interpretations or guidance, (viii) fluctuations in foreign currency exchange rates, (ix) litigation, (x) general economic conditions, and (xi) other risks as detailed in Synopsys' SEC filings, including those described in the "Risk Factors" section in its latest Quarterly Report on Form 10-Q. Furthermore, Synopsys' actual tax rates applied to income for the fourth quarter and fiscal year 2015 could differ from the targets given in this press release as a result of a number of factors, including the actual geographic mix of revenue during the quarter and year, tax law changes, and actions by government authorities. Finally, Synopsys' targets for outstanding shares in the fourth quarter and fiscal year 2015 could differ from the targets given in this press release as a result of higher than expected employee stock plan issuances or stock option exercises, acquisitions, and the extent of Synopsys' stock repurchase activity.
Synopsys is under no obligation to (and expressly disclaims any such obligation to) update or alter any of the forward-looking statements made in this earnings release, the conference call, the financial supplement, or the corporate overview presentation, whether as a result of new information, future events or otherwise, unless otherwise required by law.
SYNOPSYS, INC. | |||||||
Unaudited Consolidated Statements of Operations (1) | |||||||
(in thousands, except per share amounts) | |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
Nine Months Ended | ||||
|
July 31, |
|
July 31, | ||||
|
2015 |
|
2014 |
|
2015 |
|
2014 |
Revenue: |
|
|
|
|
|
|
|
Time-based license |
$ 445,807 |
|
$ 431,184 |
|
$ 1,324,677 |
|
$ 1,255,515 |
Upfront license |
48,878 |
|
31,594 |
|
139,671 |
|
101,863 |
Maintenance and service |
61,120 |
|
59,034 |
|
190,704 |
|
161,082 |
Total revenue |
555,805 |
|
521,812 |
|
1,655,052 |
|
1,518,460 |
Cost of revenue: |
|
|
|
|
|
|
|
License |
77,516 |
|
68,573 |
|
218,650 |
|
198,700 |
Maintenance and service |
25,251 |
|
20,685 |
|
82,244 |
|
62,065 |
Amortization of intangible assets |
26,704 |
|
26,272 |
|
78,182 |
|
74,699 |
Total cost of revenue |
129,471 |
|
115,530 |
|
379,076 |
|
335,464 |
Gross margin |
426,334 |
|
406,282 |
|
1,275,976 |
|
1,182,996 |
Operating expenses: |
|
|
|
|
|
|
|
Research and development |
197,999 |
|
182,809 |
|
567,924 |
|
528,395 |
Sales and marketing |
116,988 |
|
112,271 |
|
343,736 |
|
332,847 |
General and administrative |
43,925 |
|
37,438 |
|
121,254 |
|
112,246 |
Amortization of intangible assets |
6,188 |
|
6,537 |
|
19,066 |
|
18,291 |
Restructuring charges |
(248) |
|
- |
|
15,088 |
|
- |
Total operating expenses |
364,852 |
|
339,055 |
|
1,067,068 |
|
991,779 |
Operating income |
61,482 |
|
67,227 |
|
208,908 |
|
191,217 |
Other income (expense), net |
3,711 |
|
3,544 |
|
16,784 |
|
18,797 |
Income before income taxes |
65,193 |
|
70,771 |
|
225,692 |
|
210,014 |
Provision (benefit) for income taxes |
9,806 |
|
5,115 |
|
49,520 |
|
13,345 |
Net income |
$ 55,387 |
|
$ 65,656 |
|
$ 176,172 |
|
$ 196,669 |
|
|
|
|
|
|
|
|
Net income per share: |
|
|
|
|
|
|
|
Basic |
$ 0.36 |
|
$ 0.42 |
|
$ 1.14 |
|
$ 1.27 |
Diluted |
$ 0.35 |
|
$ 0.42 |
|
$ 1.12 |
|
$ 1.25 |
|
|
|
|
|
|
|
|
Shares used in computing per share amounts: |
|
|
|
|
|
|
|
Basic |
155,533 |
|
155,194 |
|
154,835 |
|
154,611 |
Diluted |
158,584 |
|
157,622 |
|
157,850 |
|
157,253 |
| |
(1) Synopsys' third quarter for fiscal year 2015 and 2014 ended on August 1, 2015 and August 2, 2014, respectively. For presentation purposes, we refer to closest calendar month end. |
SYNOPSYS, INC. | |||
Unaudited Consolidated Balance Sheets (1) | |||
(in thousands, except par value amounts) | |||
|
|
|
|
|
July 31, 2015 |
|
October 31, 2014 |
ASSETS: |
|
|
|
Current assets: |
|
|
|
Cash and cash equivalents |
$ 986,423 |
|
$ 985,762 |
Short-term investments |
136,496 |
|
- |
Total cash, cash equivalents and short-term investments |
1,122,919 |
|
985,762 |
Accounts receivable, net |
307,825 |
|
326,727 |
Deferred income taxes |
75,939 |
|
111,449 |
Income taxes receivable and prepaid taxes |
36,344 |
|
26,496 |
Prepaid and other current assets |
84,510 |
|
54,301 |
Total current assets |
1,627,537 |
|
1,504,735 |
Property and equipment, net |
260,667 |
|
249,098 |
Goodwill |
2,335,816 |
|
2,255,708 |
Intangible assets, net |
318,499 |
|
365,030 |
Long-term prepaid taxes |
13,800 |
|
17,645 |
Long-term deferred income taxes |
211,733 |
|
208,156 |
Other long-term assets |
185,920 |
|
175,127 |
Total assets |
$ 4,953,972 |
|
$ 4,775,499 |
|
|
|
|
LIABILITIES AND STOCKHOLDERS' EQUITY: |
|
|
|
Current liabilities: |
|
|
|
Accounts payable and accrued liabilities |
$ 330,825 |
|
$ 397,113 |
Accrued income taxes |
25,750 |
|
31,404 |
Deferred revenue |
912,768 |
|
928,242 |
Short-term debt |
190,000 |
|
30,000 |
Total current liabilities |
1,459,343 |
|
1,386,759 |
Long-term accrued income taxes |
39,207 |
|
50,952 |
Long-term deferred revenue |
90,569 |
|
77,646 |
Long-term debt |
22,500 |
|
45,000 |
Other long-term liabilities |
204,105 |
|
158,972 |
Total liabilities |
1,815,724 |
|
1,719,329 |
Stockholders' equity: |
|
|
|
Preferred stock, $0.01 par value: 2,000 shares authorized; none outstanding |
- |
|
- |
Common stock, $0.01 par value: 400,000 shares authorized; 155,929 and 155,965 shares outstanding, respectively |
1,559 |
|
1,560 |
Capital in excess of par value |
1,604,994 |
|
1,614,603 |
Retained earnings |
1,688,764 |
|
1,551,592 |
Treasury stock, at cost: 1,336 and 1,299 shares, respectively |
(61,204) |
|
(49,496) |
Accumulated other comprehensive income (loss) |
(95,865) |
|
(62,089) |
Total stockholders' equity |
3,138,248 |
|
3,056,170 |
Total liabilities and stockholders' equity |
$ 4,953,972 |
|
$ 4,775,499 |
| |
(1) Synopsys' third quarter for fiscal year 2015 ended on August 1, 2015. Fiscal year 2014 ended on November 1, 2014. For presentation purposes, we refer to the closest calendar month end. |
SYNOPSYS, INC. | |||
Unaudited Consolidated Statements of Cash Flows (1) | |||
(in thousands) | |||
|
|
|
|
|
Nine Months Ended July 31, | ||
|
2015 |
|
2014 |
CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
|
Net income |
$176,172 |
|
$ 196,669 |
Adjustments to reconcile net income to net cash provided by operating |
|
|
|
activities: |
|
|
|
Amortization and depreciation |
154,535 |
|
140,750 |
Stock compensation |
63,463 |
|
58,341 |
Allowance for doubtful accounts |
1,100 |
|
(750) |
(Gain) loss on sale of investments |
(22) |
|
(6,538) |
Deferred income taxes |
24,134 |
|
7,459 |
Net changes in operating assets and liabilities, net of |
|
|
|
acquired assets and liabilities: |
|
|
|
Accounts receivable |
16,976 |
|
24,834 |
Prepaid and other current assets |
(35,836) |
|
982 |
Other long-term assets |
(16,141) |
|
(18,847) |
Accounts payable and accrued liabilities |
(25,512) |
|
(28,270) |
Income taxes |
(20,633) |
|
(18,950) |
Deferred revenue |
4,507 |
|
22,361 |
Net cash provided by operating activities |
342,743 |
|
378,041 |
|
|
|
|
CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
|
Proceeds from sales and maturities of short-term investments |
48,155 |
|
- |
Purchases of short-term investments |
(185,402) |
|
- |
Proceeds from sales of long-term investments |
- |
|
7,313 |
Purchases of property and equipment |
(67,708) |
|
(58,085) |
Cash paid for acquisitions and intangible assets, net of cash acquired |
(126,883) |
|
(373,513) |
Capitalization of software development costs |
(2,798) |
|
(2,812) |
Other |
900 |
|
(3,000) |
Net cash used in investing activities |
(333,736) |
|
(430,097) |
|
|
|
|
CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
|
Proceeds from credit facility |
410,000 |
|
200,000 |
Repayment of debt |
(272,924) |
|
(223,239) |
Issuances of common stock |
56,414 |
|
45,336 |
Purchases of treasury stock |
(180,000) |
|
(79,747) |
Other |
(116) |
|
(5,008) |
Net cash provided by (used in) financing activities |
13,374 |
|
(62,658) |
Effect of exchange rate changes on cash and cash equivalents |
(21,720) |
|
(4,681) |
Net change in cash and cash equivalents |
661 |
|
(119,395) |
Cash and cash equivalents, beginning of the year |
985,762 |
|
1,022,441 |
Cash and cash equivalents, end of the period |
$986,423 |
|
$ 903,046 |
| |
(1) Synopsys' third quarter for fiscal year 2015 and 2014 ended on August 1, 2015 and August 2, 2014, respectively. For presentation purposes, we refer to closest calendar month end. |
INVESTOR CONTACT:
Lisa L. Ewbank
Synopsys, Inc.
650-584-1901
Email Contact
EDITORIAL CONTACT:
Yvette Huygen
Synopsys, Inc.
650-584-4547
Email Contact
To view the original version on PR Newswire, visit: http://www.prnewswire.com/news-releases/synopsys-posts-financial-results-for-third-quarter-fiscal-year-2015-300130799.html
SOURCE Synopsys, Inc.
Contact: |
Synopsys, Inc.
Web: http://www.synopsys.com |