Revenues grew 9.6% in fiscal 2020, according to Synopsys.


U.S.A. Synopsys Inc. (NASDAQ: SNPS) said Wednesday that its financial performance for the fourth quarter of the fiscal year was better than last year. The results report came just weeks after Synopsys acquired Light Tec, a provider of precision optical measurement solutions.

A decline of approximately 0.5% in expanded trading was reported on Wednesday. So far this year, the company’s shares have risen more than 55% after a more than 100% recovery since the end of March on the stock market.




Synopsys reports fourth quarter revenues of £770 million

Synopsys reported fourth quarter revenues of £770 million compared to much lower revenues of £636.62 million in the same quarter last year. The electronic design automation company reported 94 pence per share of GAAP earnings for the last quarter. On an adjusted basis, the company reported higher earnings of £1.18 per share for the fourth quarter.

The U.S. company also released its financial results for the full year on Wednesday, which were also positive on an annual basis. According to Synopsys, the company generated total revenues of £2.76 billion in fiscal 2020, representing 9.6% growth on an annual basis.

The Mountain View based company reported annual GAAP earnings of £3.19 per share. On an adjusted basis, it earned a higher £4.15 per share in the recently ended financial year. Salesforce also released its quarterly financial update on Tuesday in separate news stories from the United States.

According to Synopsys, the company had £920 million in cash and cash equivalents at the end of fiscal 2020. On Wednesday the company valued its cash flow from operations at £741.49 million.

Synopsys’ forecast for the first quarter of the fiscal year

Chairman Aart de Geus commented on the results report on Wednesday and said

“Looking to the future, market demand is strong and is fuelled by complex technologies and a variety of high-profile verticals. Our innovation driver continues to deliver highly developed capabilities across the entire portfolio. For fiscal year 2021, we are targeting revenue in excess of $4 billion with continued non-GAAP operating margin expansion, low to mid-ten growth in non-GAAP earnings per share and operating cash flow in excess of $1 billion.

For the first quarter of the fiscal year, Synopsys now forecasts a revenue decline in the range of £699.38 million to £721.82 million. Its estimate for first quarter earnings per share (GAAP) is 79 pence per share to 870 pence per share.

At the time of writing, Synopsys is valued at 25.51 billion pounds sterling and has a price-earnings ratio of 55.59.


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