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Synopsys reports FY2009 fourth quarter financial results
03 December 2009 , Written by Dhruv Tanwar
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Software and IP for semiconductor design, verification and manufacturing company Synopsys, Inc. has reported financial results for its fourth quarter and fiscal year ended October 31, 2009.

For the fourth quarter of fiscal 2009, Synopsys reported revenue of $338.3 million compared to $352.8 million for the fourth quarter of fiscal 2008, $14.5 million lower quarter on quarter. Revenue for fiscal year 2009 was $1.36 billion, an increase of two percent from $1.34 billion in fiscal 2008, it said in its statement.

On a GAAP basis, Synopsys reported a net income for the fourth quarter of fiscal 2009 of $19.5 million, or $0.13 per share, compared to $46.4 million, or $0.32 per share, for the same period of fiscal 2008. Net income for fiscal year 2009 was reported at $167.7 million, or $1.15 per share, against $190.0 million, or $1.29 per share, for fiscal 2008, which included a $17.3 million tax benefit associated with the settlement of an IRS tax issue for fiscal years 2000 and 2001.

Synopsys Chairman and CEO Aart de Geus commented, "Synopsys met or exceeded almost every goal we set at the beginning of the year, a notable accomplishment given the turbulence that characterized the economic environment. Looking forward into 2010, we intend to continue to control expenses, invest to accelerate our strong technology momentum, and focus on growing our customer relationships."
 

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