MOUNTAIN VIEW, Calif.--Synopsys Inc. here today (Feb. 21) reported a 19% sequential increase in revenue to $157.1 million in the company's fiscal first quarter, ended Feb. 3, compared to $132.2 million in the prior three-month period.
The company's revenue was 28% lower than $216.9 million in the first fiscal quarter last year due to Synopsys' transition to a subscription licensing model for design automation software. Synopsys posted a net income of $9.5 million in the first fiscal quarter vs. $45.1 million in the period last year.
The design automation software supplier predicted that its revenue would grow slightly to $160-to-165 million in the current fiscal quarter. It is estimating a net income of $20-to-22 million in the quarter, including $15 million in sales on investments.
For the entire fiscal 2001 year, Synopsys is forecasting revenue of $680-to-690 million compared to $783.8 million in the 2000 fiscal period, ended Oct. 31. Revenue for the current year will decline partly because Synopsys' transition to subscription licensing agreements.