Wed, Feb 26, 9:44 PM (59 days ago)
For the fiscal quarter ending January 31, 2025, Synopsys, Inc. (SNPS) reported revenues of $1,455 million, a 4% decrease from $1,511 million in the same period last year, attributed to the impact of an extra week in fiscal 2024 and reduced customer spending on hardware and IP products. Operating income fell 29% to $252 million, with increased operating expenses of $934 million due to higher legal and consulting costs associated with the pending Ansys merger. The net income attributed to Synopsys was $296 million, or $1.89 per diluted share, down from $449 million or $2.89 per share in the previous year. Cash and cash equivalents decreased to $3,654 million from $3,897 million, while total liabilities dropped to $3,736 million. The company is preparing for the Ansys merger, valued at $35 billion, which is expected to significantly increase debt levels. Synopsys anticipates challenges in the macroeconomic environment, particularly in China, affecting future operations and revenue. Overall, the company is navigating uncertainties while pursuing growth through strategic acquisitions and maintaining strong liquidity.