8-KEarnings & ResultsLeadership ChangesExhibits & Filings

SYNOPSYS INC 8-K Report, Financial Results (Dec 3, 2014)

Filed December 3, 2014For Securities:SNPS

Summary

This 8-K filing by Synopsys, Inc. (SNPS) primarily announces the company's financial results for its fourth fiscal quarter and full fiscal year ended November 1, 2014. The report highlights that the company is furnishing its earnings press release, which includes both GAAP and non-GAAP financial measures. Investors should note that the company utilizes non-GAAP measures to provide supplemental insights into operational performance, excluding items such as amortization of acquired intangibles, stock compensation, acquisition-related costs, and other significant or infrequent items. Additionally, the filing announces a significant executive leadership change. Brian M. Beattie, the former Chief Financial Officer, has been promoted to Executive Vice President, Business Operations and Chief Administrative Officer. Trac Pham, previously Vice President of Corporate Finance, has been appointed as the new Chief Financial Officer. These changes are effective December 5, 2014.

Key Highlights

  • 1Synopsys announced financial results for its fourth fiscal quarter and full fiscal year ended November 1, 2014.
  • 2The company's earnings release, incorporated by reference, includes both GAAP and non-GAAP financial measures.
  • 3Non-GAAP measures are used to provide supplemental insights into operational performance, excluding items like amortization of intangibles and stock compensation.
  • 4Brian M. Beattie, previously CFO, has been promoted to EVP, Business Operations and Chief Administrative Officer.
  • 5Trac Pham has been appointed as the new Chief Financial Officer, succeeding Mr. Beattie.
  • 6These executive changes are effective December 5, 2014.

Frequently Asked Questions

This 8-K filing serves as a notification that Synopsys has issued a press release announcing its financial results for the fourth fiscal quarter and full fiscal year ended November 1, 2014. The specific financial figures are detailed within the furnished press release (Exhibit 99.1), which includes both GAAP and non-GAAP earnings information.

Synopsys uses non-GAAP financial measures to provide investors and management with valuable insights into operational performance. These measures exclude items such as amortization of acquired intangible assets, stock-based compensation, acquisition-related costs, and other significant or infrequent items, which management believes do not reflect the ongoing operational performance of the business. They are presented to supplement, not replace, GAAP measures.

Yes, Synopsys announced that Brian M. Beattie, the former CFO, has been promoted to a newly created role of Executive Vice President, Business Operations and Chief Administrative Officer. Concurrently, Trac Pham, formerly Vice President of Corporate Finance, has been appointed as the new Chief Financial Officer. Both changes are effective December 5, 2014.

The disclaimer indicates that the information provided in this Current Report (including the attached exhibits) is furnished and not formally 'filed' with the SEC for the purposes of Section 18 of the Securities Exchange Act of 1934. This means the company may have less liability under certain anti-fraud provisions for the disclosed information compared to information that is formally filed. It also clarifies that this information will not be automatically incorporated into future SEC filings unless explicitly referenced.