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Synopsys (NASDAQ:SNPS) Wednesday afternoon reported revenue for its fiscal first quarter ended January 31 of $315.5 million, with non-GAAP EPS of 44 cents, beating the Street at $312.9 million and 38 cents.

For the fiscal second quarter, SNPS sees revenue of $317 million to $325 million, with non-GAAP EPS of 37-39 cents. That is about in line with the Street estimates of $320.86 million and 38 cents.

For the fiscal year ending October 2008, the EDA software company sees revenue of $1.3 billion to $1.315 billion, with non-GAAP EPS of $1.56-$1.61, about in line with Street estimates of $1.31 billion and $1.59.

In after hours trading, SNPS is up $1.45, or 6.3%, at $24.48; the stock fell 44 cents in the regular session.

Source: Synopsys: Q1 Tops Estimates, Q2 Outlook In Line