Results – revenue $633.7M (+7.9% Y/Y, $5.47M above estimates), EPS $0.77 (in line), net income $119.1M (vs. $105.5M Y/Y)
Other developments – Agreement for senior unsecured revolving credit facility amended and restated at $650M from $500M prior (termination extended from May 19, 2020 to November 28, 2021). Cigital and Codiscope acquisitions finalized, terms undisclosed.
Q1 projections – revenue $630M-$645M (consensus $606.21M), EPS $0.77-$0.80 (consensus $0.76), expenses $485M-$495M, other income and expense $0-$2M
FY 2017 projections – revenue $2.57B-$2.6B (consensus $2.42B), EPS $3.16-$3.23, other income and expense $0-$4M, cash flow from operations $500M
Synopsys (NASDAQ:SNPS) chairman and co-CEO Aart de Geus: "Synopsys reported a strong fourth quarter finish to an outstanding fiscal year 2016, in the context of a challenging semiconductor landscape. We enter 2017 with a solid technical and economic foundation. During the year, we made very good progress with our design and verification products, delivered strong results in IP, and further scaled our software integrity solutions, including the acquisitions of Cigital and Codiscope, which closed today. To drive long-term shareholder value, we also continue to successfully balance our investment priorities, including $400 million in share repurchases during fiscal year 2016."