Mountain View, CA - November 30, 2000 - Synopsys, Inc. reported its fourth quarter and annualresults for the period that ended on October 28, 2000. For the fourth quarter, Synopsys reported revenue of $133.2 million and a net loss, on an earnings before goodwill (EBG) basis, which represents earnings on a fullydiluted basis excluding amortization of intangible assets and in-process research and development, of ($21.0) million, or ($0.33) per share.
As expected, said the company, due to the company's transition to its new license model implemented at the beginning of the quarter, fourth quarter revenue and net income declined from the same period last year, when it reported revenue of $228.3 million and net income of $55.4 million, or $0.75 per share in the same period last year. Synopsys booked 80 percent of its product orders under the new subscription model during the fourth quarter.
On a Generally Accepted Accounting Principles (GAAP) basis, net loss after amortization of intangible assets and in-process research and development, and including unusual charges, was ($22.3) million, or ($0.34) per share, compared with net income of $53.0 million, or $0.72 per share, for the fourth quarter of fiscal 1999.
Revenue for fiscal year 2000 was $783.8 million, compared with revenue for fiscal year 1999 of $806.1 million. EBG net income, excluding amortization of intangible assets and in-process research and development, was $112.3 million or $1.58 per share, compared with EBG net income of $190.7 million or $2.60 pershare, for fiscal year 1999.
"This was an excellent quarter for Synopsys," said Dr. Aart de Geus, chairman and chief executive officer. "Our orders were the highest of any quarter in Synopsys history. We fully transitioned to our new subscription license model in one quarter and we started building a significant backlog of revenue for future quarters. In the key area of physical synthesis, we exceeded our target of $50 million in orders for the year, and continued to produce excellent results for our customers. We are optimistic about our continued success in physical synthesis in the coming year."
Mountain View, CA
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