Summary
Synopsys Inc. (SNPS) reported strong financial results for the quarter and six months ended April 30, 2021. Total revenue increased by 19% year-over-year for the quarter to $1.024 billion and by 18% for the six-month period to $1.995 billion. This growth was primarily driven by the Semiconductor & System Design segment, which saw a 20% increase in quarterly revenue, reflecting continued demand for their EDA and IP products. The Software Integrity segment also showed growth, albeit at a slower pace. The company demonstrated robust profitability, with operating income increasing by 54% year-over-year for the quarter to $194.2 million. Net income also saw a significant jump. Cash flow from operations remained strong, indicating healthy underlying business performance. Synopsys continues to execute its growth strategy, investing in R&D and also actively engaging in share repurchases.
Financial Highlights
57 data points| Revenue | $1.02B |
| Cost of Revenue | $213.99M |
| Gross Profit | $810.34M |
| R&D Expenses | $362.35M |
| Operating Expenses | $616.11M |
| Operating Income | $194.23M |
| Interest Expense | $807K |
| Net Income | $195.08M |
| EPS (Basic) | $1.28 |
| EPS (Diluted) | $1.24 |
| Shares Outstanding (Basic) | 152.72M |
| Shares Outstanding (Diluted) | 157.08M |
Key Highlights
- 1Total revenue for the three months ended April 30, 2021, was $1.024 billion, an increase of 19% compared to the prior year's quarter.
- 2For the six months ended April 30, 2021, total revenue reached $1.995 billion, an 18% increase year-over-year.
- 3The Semiconductor & System Design segment continues to be the primary growth driver, with revenue up 20% for the quarter.
- 4Operating income increased significantly by 54% to $194.2 million for the three months ended April 30, 2021.
- 5Net income attributed to Synopsys for the quarter was $195.1 million, a substantial increase from $109.9 million in the prior year.
- 6Cash provided by operating activities for the six months ended April 30, 2021, was $700.3 million, demonstrating strong cash generation.
- 7The company repurchased approximately 0.4 million shares of common stock for $100 million in April 2021 as part of its ongoing share repurchase program.