Synopsys Beats on Q1, Guidance

Synopsys managed to beat estimates in its just-reported fiscal Q1 2013 results. For the quarter, the company's revenue was $475 million, or 12% higher than the $426 million of the same period one year ago. Non-GAAP net profit came in at $103 million ($0.67 per share), up 25% on a year-over-year basis from Q1 2012's $82 million ($0.56).

Those figures trumped market expectations. Analysts had been anticipating $473 million in top line and an EPS number of $0.55.

Synopsys' forward-looking financial targets also exceeded estimates. For the current quarter, the company expects $490 million to $500 million in revenue, and EPS of $0.63 to $0.65. Analysts have forecast $486 million and $0.56, respectively. For the entirety of fiscal 2013, the company believes it will post revenue of $1.96 billion to $1.98 billion and net $2.35 to $2.40 per share, against market expectations of $1.96 billion and $2.29, respectively.

The article Synopsys Beats on Q1, Guidance originally appeared on Fool.com.

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