Q2 revenue up for Synopsys

"Synopsys again delivered solid results this quarter," said Aart de Geus, chairman and ceo of Synopsys. "While the customer backdrop remains cautious, we continue to execute well on our strategy to address customer needs ranging from mainstream to the most advanced silicon design flows, all the way to the rapidly growing IP and systems space. This quarter we made particular progress in the latter, where we believe we have an especially promising outlook." On a generally accepted accounting principles (GAAP) basis, net income for the second quarter of fiscal 2010 was $39.5m compared to $48.3m a year earlier. On a non-GAAP basis, net income for the second quarter of fiscal 2010 was $61.9m compared to non-GAAP net income of $65.9m a year earlier. Synopsys also provided its financial targets with revenue expected to reach between $330m and $338m for Q3 and between $1.340billion and $1.355bn for the full fiscal year.