Synopsys modifies guidance for first quarter, fiscal 2005

Mike Santarini
(01/10/2005 1:15 PM EST)

  SAN JOSE, Calif. — Synopsys Inc. lowered its earnings-per-share target for fiscal 2005, citing an adjustment in the way it accounts for assets.

Meanwhile, it has raised revenue and earnings guidance ranges for the first quarter of 2005. The company said its previously announced GAAP (generally accepted accounting principles) earnings-per-share target did not include all estimated amortization of intangible assets for the full fiscal year.

During its December earnings call with analysts, company officials predicted GAAP earnings in the range of zero to $0.11 per share. The company now predicts GAAP earnings per share will be between negative $0.32 to negative $0.21 per share for 2005.

No other measure, including non-GAAP earnings per share, is affected by the adjustment, Synopsys said. The company also said it would raised the low end of its the revenue and earnings-per-share targets for the first quarter of 2005.

The company previously predicted first quarter revenue of $233 million to $243 million, and earnings of $0.03 to $0.07 per share. It now expects revenue totaling between $237 million to $243 million and earnings per share in the range of $0.05 to $0.07.