MOUNTAIN VIEW, California. November 4, 2002 - Synopsys Inc., (Nasdaq: SNPS) today announced preliminary fourth quarter 2002 revenue and earnings before goodwill (EBG) results.
Pro Forma Preliminary Results: Synopsys announced that it expects fourth quarter fiscal 2002 revenue to be approximately $307 - $309 million, slightly above the First Callâ consensus estimate of $307 million, and 68% above year-ago quarter levels. EBG is expected to be approximately $0.96 - $0.98 per share, well above the First Callâ consensus estimate of $0.87 per share, and 149% above year-ago quarter levels. EBG represents earnings on a diluted basis excluding amortization of intangible assets, integration expenses and in-process research and development. Perpetual licenses accounted for 25% of product orders, within the previously guided range of 20%-25%. Operating cash for the quarter is expected to be well in excess of $100 million. During the quarter, Synopsys repurchased $130 million of its own stock at an average price of $42.53. GAAP results will be made available during our earnings call on Wednesday, December 4, 2002, after the market closes.
Financial Guidance: Synopsys announced that it is reaffirming its fiscal 2003 EBG guidance of $3.25 per share.
Synopsys cautioned that these anticipated results are preliminary, based on the best information currently available, and are subject to the closing of its books and customary quarterly accounting procedures.
The foregoing statement is a forward-looking statement. Factors that could cause actual results to differ materially from those expected are described in the "Forward Looking Statements" section below, and in Synopsys' filings with the Securities and Exchange Commission.
About Synopsys
Synopsys, Inc. (Nasdaq: SNPS), headquartered in Mountain View, California, creates leading electronic design automation (EDA) tools for the global electronics market. The company delivers advanced design technologies and solutions to developers of complex integrated circuits, electronic systems, and systems on a chip. Synopsys also provides consulting and support services to simplify the overall IC design process and accelerate time to market for its customers. Visit Synopsys at http://www.synopsys.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. Actual results could differ materially from those described by these statements. Factors that could cause results to differ from these statements include: slower than assumed growth in research and development spending by semiconductor companies; continued or increased weakness in the semiconductor or electronic systems industries; difficulties encountered in the integration of Avant!'s products and operations into Synopsys, which could materially interfere with sales efforts; a lower-than-anticipated level of purchases of software or consulting services by the Company's customers; and increasing competition in the market for the Company's products and services. For further discussion of these and other factors that may cause results to differ from those projected in this release, readers are referred to documents filed by Synopsys with the Securities and Exchange Commission, specifically Synopsys' report on Form 10-Q filed with the Securities and Exchange Commission on September 20, 2002. Synopsys is under no obligation to (and expressly disclaims any such obligation to) update or alter these forward-looking statements whether as a result of new information, future events or otherwise.
Synopsys is a registered trademark of Synopsys, Inc. All other company or product names are the registered trademarks or trademarks of their respective owners.