Expects Q4 revenue to be between $349m and $357m
Synopsys, a provider of software and IP for semiconductor design, verification and manufacturing, has posted net revenues of $336.9m for the third quarter of 2010, compared to a revenue of $345.2m in Q3 FY09.
Revenue from time-based license increased to $286.6m from $285.6, while revenue from upfront license,and maintenance and service decreased to $14.7m and $35.7m, from $17.8m and $41.8m respectively.
For the quarter ended July 31, 2010, the company reported an operating income of $50.8m, a decrease of 17% as compared to $61.1m of third quarter fiscal 2009.
Synopsys posted a net income of $39.3m or $0.26 diluted earnings per share in the third quarter of 2010, compared to net income of $47.4m or $0.32 Diluted EPS in the same quarter last year.
Synopsys chairman and chief executive officer Aart de Geus said that the company delivered strong results in Q3, and they are well on-track to meeting or beating the targets they set at the beginning of the year.
"During the downturn over the past two years, we invested to strengthen our technology portfolio, gained customer momentum, and expanded our total addressable market through several acquisitions," de Geus said.
"Looking forward, our objective is to sustainably grow earnings per share primarily by growing revenue, controlling expenses and focusing efforts on value-added projects."
The company expects Q4 revenue to be in a range of $349m and $357m, and GAAP earnings per share to be in a range of $0.21 and $0.27.