Synopsys Posts Financial Results for Fourth Quarter and Fiscal Year 2014

Q4 2014 Financial Highlights

  • Revenue: $539.0 million
  • GAAP earnings per share: $0.39
  • Non-GAAP earnings per share: $0.64

FY 2014 Financial Highlights

  • Revenue: $2.057 billion
  • GAAP earnings per share: $1.64
  • Non-GAAP earnings per share: $2.53
  • Cash flow from operations: $551 million
  •  Ending cash balance: $985.8 million

MOUNTAIN VIEW, Calif., Dec. 3, 2014 / PRNewswire / - Synopsys, Inc. (Nasdaq: SNPS), a global leader providing software, IP and services used to accelerate innovation in chips and electronic systems, today reported results for its fourth quarter and fiscal year 2014.

For the fourth quarter of fiscal 2014, Synopsys reported revenue of $539.0 million, compared to $504.9 million for the fourth quarter of fiscal 2013. Revenue for fiscal year 2014 was $2.057 billion, an increase of 4.9 percent from $1.962 billion in fiscal 2013.

"Fiscal 2014 was a very good, very significant year for Synopsys," said Aart de Geus, chairman and co-CEO of Synopsys. "We delivered solid financial results, and built a strong foundation for 2015. We released game-changing new products that will drive a multi-year upgrade cycle. And we broadened our total addressable market to include the higher-growth software quality, test and security space. We look forward to another year of solid financial execution and operational performance."

GAAP Results
On a generally accepted accounting principles (GAAP) basis, net income for the fourth quarter of fiscal 2014 was $62.5 million, or$0.39 per share, compared to $56.9 million, or $0.36 per share, for the fourth quarter of fiscal 2013. GAAP net income for fiscal year 2014 was $259.1 million, or $1.64 per share, compared to $247.8 million, or $1.58 per share, for fiscal 2013.

Non-GAAP Results
On a non-GAAP basis, net income for the fourth quarter of fiscal 2014 was $100.9 million, or $0.64 per share, compared to non-GAAP net income of $88.3 million, or $0.56 per share, for the fourth quarter of fiscal 2013. Non-GAAP net income for fiscal 2014 was $398.9 million, or $2.53 per share, compared to non-GAAP net income of $381.4 million, or $2.44 per share, for fiscal 2013.