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.Fool contributor Eric Volkman and The Motley Fool have no position in Synopsys. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.