RTTNews | Dec 3, 2020 09:53AM EST

09:53 Thursday, December 3, 2020 (RTTNews.com) - Shares of Synopsys Inc. (SNPS) are currently trading at $232.63, up $7.90 or 3.52% Thursday morning, with trading volume of 217K more versus an average volume of 736K shares. The stock has been trading in the range of $104.90 - $246.69 for the past one year.

The company issued upbeat financial guidance for the fiscal year 2021, while reporting better-than-expected profit for the fourth quarter.

For the first quarter, the company projects GAAP earnings in the range of $1.05 - $1.16 per share, and non-GAAP earnings of $1.44 - $1.49 per share, on revenue of $935 million - $965 million. Wall Street analysts estimate earnings of $1.43 per share on revenue of $968.93 million for the quarter.

For the fiscal year 2021, the company sees GAAP earnings of $4.39 - $4.54, and non-GAAP earnings of $6.23 - $6.30 per share, on revenues between $4.00 billion and $4.05 billion. Analysts look for earnings of $6.16 per share and revenue of $3.98 billion for fiscal 2021.

Q4 Results

The company's Q4 net income was $197.5 million or $1.26 per share compared to $160.7 million or $1.04 per share last year. On a non-GAAP basis, net income increased to $247.7 million or $1.58 per share from $177.1 million or $1.15 per share a year ago. Analysts polled by Thomson Reuters expected earnings of $1.57 per share for the quarter. Analysts' estimate typically exclude certain special items. Revenue was $1.025 billion, higher than the previous year's $851.1 million.

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