SUNNYVALE, Calif. (AP) — SUNNYVALE, Calif. (AP) — Synopsys Inc. (SNPS) on Wednesday reported fiscal fourth-quarter profit of $1.11 billion.
The Sunnyvale, California-based company said it had net income of $7.14 per share. Earnings, adjusted for one-time gains and costs, were $3.40 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $3.29 per share.
The maker of software used to test and develop chips posted revenue of $1.64 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $1.63 billion.
For the year, the company reported profit of $2.26 billion, or $14.51 per share. Revenue was reported as $6.13 billion.
For the current quarter ending in January, Synopsys expects its per-share earnings to range from $2.77 to $2.82.
The company said it expects revenue in the range of $1.44 billion to $1.47 billion for the fiscal first quarter.
Synopsys expects full-year earnings in the range of $14.88 to $14.96 per share, with revenue ranging from $6.75 billion to $6.81 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SNPS at https://www.zacks.com/ap/SNPS
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