8-KEarnings & ResultsExhibits & Filings

SYNOPSYS INC 8-K Report, Financial Results (May 21, 2014)

Filed May 21, 2014For Securities:SNPS

Summary

Synopsys, Inc. (SNPS) filed an 8-K on May 21, 2014, to report its financial results for the second fiscal quarter ended May 3, 2014. The primary purpose of this filing is to provide investors with the company's earnings press release, which details its financial performance. A key takeaway for investors is that Synopsys utilizes and presents non-GAAP financial measures alongside GAAP results to offer a more insightful view of its operational performance and liquidity. These non-GAAP measures are adjusted to exclude items such as amortization of acquired intangible assets, stock-based compensation, acquisition-related costs, and other significant or infrequent items like facility restructuring charges and legal/tax settlements. The company believes these adjustments provide a better understanding of its core profitability and facilitate comparisons with historical results and competitors, aiding management in decision-making regarding R&D, infrastructure, and strategic investments.

Key Highlights

  • 1Synopsys announced its financial results for the second fiscal quarter ended May 3, 2014, via an 8-K filing.
  • 2The filing includes a press release detailing the company's operational and financial condition.
  • 3Synopsys presents both GAAP and non-GAAP financial measures in its earnings release.
  • 4Non-GAAP measures exclude items such as amortization of acquired intangibles and stock compensation.
  • 5Other excluded items from non-GAAP calculations include acquisition-related costs and restructuring charges.
  • 6The company believes non-GAAP measures offer valuable insights into operational performance and liquidity.
  • 7The information provided is furnished and not deemed 'filed' for liability purposes under certain SEC rules.

Frequently Asked Questions

The main purpose of this 8-K filing is to formally report Synopsys's financial results for its second fiscal quarter ended May 3, 2014, by attaching the accompanying press release that details these results.

Synopsys presents non-GAAP financial measures because management believes they provide a more meaningful and insightful view of the company's operational performance and liquidity, excluding certain non-cash expenses, acquisition-related costs, and infrequent charges. This allows for better comparison with historical results and competitors.

Synopsys excludes items such as amortization of acquired intangible assets, the impact of stock-based compensation, acquisition-related costs (including professional fees and restructuring charges), and other significant or infrequent items like facility restructuring charges and tax/legal settlements.

The filing states that the information in the 8-K and the attached exhibit shall not be deemed 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934, nor subject to the liabilities of that section or other securities laws. While non-GAAP measures offer insights, they are presented alongside GAAP measures and should not be considered a substitute for them.