Summary
This 8-K filing by Synopsys, Inc. (SNPS) on August 17, 2011, primarily announces the company's financial results for the third fiscal quarter ended July 30, 2011, through an attached press release (Exhibit 99.1). The report details the company's performance during the quarter, providing both GAAP and non-GAAP financial measures. Investors should pay close attention to the non-GAAP figures, as Synopsys management uses them extensively for operational decision-making and believes they offer valuable insights into the company's performance and liquidity. The filing also provides a detailed explanation of why certain items are excluded from the non-GAAP calculations, including amortization of acquired intangible assets, stock-based compensation expenses, acquisition-related costs, certain legal settlements, and specific income tax adjustments. Management's rationale is to present a clearer view of the company's core operational performance and to facilitate comparisons with historical results and competitors.
Key Highlights
- 1Synopsys announced its financial results for the third fiscal quarter ended July 30, 2011.
- 2The report includes both GAAP and non-GAAP financial measures.
- 3Management utilizes non-GAAP measures for operational decision-making and believes they offer supplemental value.
- 4Key exclusions from non-GAAP calculations include amortization of acquired intangibles and stock-based compensation.
- 5Acquisition-related costs are also excluded from non-GAAP measures.
- 6The company aims to provide investors with a better understanding of operational performance and liquidity through these non-GAAP presentations.
- 7Exhibit 99.1, the press release containing the financial results, is furnished with this filing.