Summary
Synopsys, Inc. (SNPS) filed an 8-K on May 17, 2017, to report its financial results for the second fiscal quarter ended April 30, 2017. The filing primarily consists of a press release announcing these results. A key aspect of this report is the detailed explanation of Synopsys' use of non-GAAP financial measures, which exclude items such as amortization of acquired intangibles, stock compensation, acquisition-related costs, restructuring charges, and certain legal matter effects. The company uses these non-GAAP measures to analyze core operational performance and for internal decision-making and forecasting, believing they offer a better understanding of the company's underlying business trends and profitability.
Key Highlights
- 1Synopsys announced its second fiscal quarter 2017 financial results via a press release filed as an exhibit to the 8-K.
- 2The filing details Synopsys' methodology and rationale for using non-GAAP financial measures.
- 3Key exclusions from non-GAAP measures include amortization of acquired intangibles, stock compensation, acquisition-related costs, and restructuring charges.
- 4A normalized annual non-GAAP tax rate of 19% is utilized for calculating non-GAAP financial measures, aiming for consistency across reporting periods.
- 5The company emphasizes that non-GAAP measures are supplemental and should be viewed alongside GAAP results.
- 6Management uses non-GAAP measures to evaluate core operational performance, make investment decisions, and compare against historical results and competitors.