Synopsys (SNPS) Tops Q4 EPS by 12c, Beats on Revenues; FY18 Revenue Guidance Above Consensus

Synopsys (NASDAQ: SNPS) reported Q4 EPS of $0.69, $0.12 better than the analyst estimate of $0.57. Revenue for the quarter came in at $696.6 million versus the consensus estimate of $650.72 million.

First Quarter of Fiscal Year 2018 Targets:

• Revenue: $740 million - $765 million
• GAAP expenses: $625 million - $641 million
• Non-GAAP expenses: $560 million - $570 million
• Other income (expense), net: ($1 million) - $1 million
• Normalized annual tax rate applied in non-GAAP net income calculations: 19 percent
• Fully diluted outstanding shares: 153 million - 156 million
• GAAP earnings per share: $0.62 - $0.70
• Non-GAAP earnings per share: $0.98 - $1.02

Full Fiscal Year 2018 Targets:

• Revenue: $2.88 billion - $2.91 billion, or $2.820 billion - $2.855 billion, excluding Black Duck
• Other income (expense), net: ($6 million) – ($2 million)
• Normalized annual tax rate applied in non-GAAP net income calculations: 19 percent
• Fully diluted outstanding shares: 153 million - 156 million
• GAAP earnings per share: $2.24 - $2.38, or $2.68 - $2.80 excluding Black Duck
• Non-GAAP earnings per share: $3.46 - $3.53, or $3.58 - $3.65 excluding Black Duck
• Cash flow from operations: approximately $500 million - $550 million, which includes the impact of approximately $105 million of one-time cash payments associated with the fiscal fourth quarter repatriation of offshore cash, and a Hungarian tax dispute.

Q4 2017 Financial Highlights

• Revenue: $696.6 million
• GAAP loss per share: $0.80
• Non-GAAP earnings per share: $0.69

GUIDANCE:

Synopsys sees FY2018 EPS of $3.46-$3.53, versus the consensus of $3.57. Synopsys sees FY2018 revenue of $2.88-2.91 billion, versus the consensus of $2.82 billion.

For earnings history and earnings-related data on Synopsys (SNPS) click here.

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