News Releases

Synopsys Posts Financial Results for Fourth Quarter and Fiscal Year 2020
Q4 FY 2020 Financial Highlights
-- Revenue: $1.025 billion
-- GAAP earnings per share: $1.26
-- Non-GAAP earnings per share: $1.58
FY 2020 Financial Highlights
-- Revenue: $3.685 billion
-- GAAP earnings per share: $4.27
-- Non-GAAP earnings per share: $5.55
-- Cash flow from operations: $991.3 million
-- Cash and cash equivalents: $1.236 billion

MOUNTAIN VIEW, Calif., Dec. 2, 2020 /PRNewswire/ -- Synopsys, Inc. (Nasdaq: SNPS) today reported results for its fourth quarter and full fiscal year 2020. Revenue for the fourth quarter was $1.025 billion, compared to $851.1 million for the fourth quarter of fiscal year 2019. Revenue for fiscal year 2020 was $3.685 billion, an increase of 9.6 percent from $3.361 billion in fiscal year 2019.

"Synopsys is entering fiscal 2021 with considerable financial, technology and customer momentum as we substantially exceeded our original plan, with excellent growth in revenue, non-GAAP operating margin and earnings, and operating cash flow. Given the unprecedented macro challenges in 2020, it is with particular gratitude that we thank our customers, partners, and the entire Synopsys team for this outcome," said Aart de Geus, chairman and co-CEO of Synopsys. "Looking forward, market demand is strong, fueled by complex technologies and a multitude of high-profile verticals. Our innovation engine continues to deliver highly advanced capabilities throughout the portfolio. In fiscal 2021, we aim to surpass $4 billion in revenue, with continued non-GAAP operating margin expansion, low-to-mid teens non-GAAP earnings per share growth, and more than $1 billion in operating cash flow."

GAAP Results

On a generally accepted accounting principles (GAAP) basis, net income for the fourth quarter of fiscal year 2020 was $197.5 million, or $1.26 per share, compared to $160.7 million, or $1.04 per share, for the fourth quarter of fiscal year 2019. GAAP net income for fiscal year 2020 was $664.3 million, or $4.27 per share, compared to $532.4 million, or $3.45 per share, for fiscal year 2019.

Non-GAAP Results

On a non-GAAP basis, net income for the fourth quarter of fiscal year 2020 was $247.7 million, or $1.58 per share, compared to non-GAAP net income of $177.1 million, or $1.15 per share, for the fourth quarter of fiscal year 2019. Non-GAAP net income for fiscal year 2020 was $864.6 million, or $5.55 per share, compared to non-GAAP net income of $702.5 million, or $4.56 per share, for fiscal year 2019.

For a reconciliation between GAAP and non-GAAP results, see "GAAP to Non-GAAP Reconciliation" and the accompanying tables below. 

Business Segments

Synopsys reports revenue and operating income in two segments: (1) Semiconductor & System Design, which includes EDA tools, IP products, system integration solutions and associated services, and (2) Software Integrity, which includes security and quality solutions for software development across many industries. Further information regarding these segments is provided at the end of this press release.

Financial Targets

Synopsys also provided its consolidated financial targets for the first quarter and full fiscal year 2021. These financial targets assume that there are no changes to the current U.S. government "Entity List" restrictions for the full fiscal year. These targets constitute forward-looking statements and are based on current expectations. For a discussion of factors that could cause actual results to differ materially from these targets, see "Forward-Looking Statements" below. 

First Quarter and Fiscal Year 2021 Financial Targets

(in millions except per share amounts)








Q1 FY 2021


FY 2021


Low

High


Low

High

Revenue

$  935

$  965


$ 4,000

$ 4,050

GAAP Expenses

$  767

$  785


$ 3,226

$ 3,271

Non-GAAP Expenses

$  674

$  684


$ 2,825

$ 2,855

Other Income (Expense)

$     (2)

$     -


$    (11)

$      (7)

Normalized Annual Tax Rate (1)

16%

16%


16%

16%

Outstanding Shares (fully diluted)

155

158


156

159

GAAP EPS

$ 1.05

$ 1.16


$   4.39

$   4.54

Non-GAAP EPS

$ 1.44

$ 1.49


$   6.23

$   6.30

Operating Cash Flow




$ 1,200

$ 1,300


(1) Applied in non-GAAP net income calculations










Earnings Call Open to Investors

Synopsys will hold a conference call for financial analysts and investors today at 2:00 p.m. Pacific Time. A live webcast of the call will be available on Synopsys' corporate website at www.synopsys.com. A recording of the call will be available by calling +1-866-207-1041 (+1-402-970-0847 for international callers), access code 2523787, beginning at 5:00 p.m. Pacific Time today, until 11:59 p.m. Pacific Time on December 9, 2020. A webcast replay will also be available on the website from approximately 5:30 p.m. Pacific Time today through the time Synopsys announces its results for the first quarter of fiscal year 2021 in February 2021.  Synopsys will post copies of the prepared remarks of Aart de Geus, chairman and co-chief executive officer, and Trac Pham, chief financial officer, on its website following today's call.  In addition, Synopsys makes additional information available in a financial supplement and corporate overview presentation, which are also posted on the corporate website.

Effectiveness of Information

The targets included in this press release, the statements made during the earnings conference call and the information contained in the financial supplement and corporate overview presentation (available in the Investor Relations section of Synopsys' corporate website at www.synopsys.com) represent Synopsys' expectations and beliefs as of the date of this release only. Although this press release, copies of the prepared remarks of the co-chief executive officer and chief financial officer made during the call, the financial supplement, and the corporate overview presentation will remain available on Synopsys' website through the date of the first quarter of fiscal year 2021 earnings call in February 2021, their continued availability through such date does not mean that Synopsys is reaffirming or confirming their continued validity. Synopsys does not currently intend to report on its progress during the first quarter of fiscal year 2021 or comment to analysts or investors on, or otherwise update, the targets given in this release.

Availability of Final Financial Statements

Synopsys will include final financial statements for fiscal year 2020 in its annual report on Form 10-K to be filed by December 30, 2020.

About Synopsys

Synopsys, Inc. (Nasdaq: SNPS) is the Silicon to Software™ partner for innovative companies developing the electronic products and software applications we rely on every day. As the world's 15th largest software company, Synopsys has a long history of being a global leader in electronic design automation (EDA) and semiconductor IP and is also growing its leadership in software security and quality solutions. Whether you're a system-on-chip (SoC) designer creating advanced semiconductors, or a software developer writing applications that require the highest security and quality, Synopsys has the solutions needed to deliver innovative, high-quality, secure products. Learn more at www.synopsys.com.     

GAAP to Non-GAAP Reconciliation

Synopsys continues to provide all information required in accordance with GAAP but believes evaluating its ongoing operating results may not be as useful if an investor is limited to reviewing only GAAP financial measures. Accordingly, Synopsys presents non-GAAP financial measures in reporting its financial results to provide investors with an additional tool to evaluate Synopsys' operating results in a manner that focuses on what Synopsys believes to be its core business operations and what Synopsys uses to evaluate its business operations and for internal planning and forecasting purposes. Synopsys' management does not itself, nor does it suggest that investors should, consider such non-GAAP financial measures in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Synopsys' management believes it is useful for itself and investors to review, as applicable, both GAAP information that includes: (i) the amortization of acquired intangible assets, (ii) the impact of stock compensation, (iii) acquisition-related costs, (iv) restructuring charges, (v) the effects of certain settlements, final judgments and loss contingencies related to legal proceedings, and (vi) the income tax effect of non-GAAP pre-tax adjustments; and the non-GAAP measures that exclude such information in order to assess the performance of Synopsys' business and for planning and forecasting in subsequent periods.

Synopsys utilizes a normalized annual non-GAAP tax rate in the calculation of its non-GAAP measures to provide better consistency across interim reporting periods by eliminating the effects of non-recurring and period-specific items such as tax audit settlements, which can vary in size and frequency and not necessarily reflect our normal operations, and to more clearly align our tax rate with our expected geographic earnings mix.  In projecting this rate, we evaluate our historical and projected mix of U.S. and international profit before tax, excluding the non-GAAP adjustments described above. We also consider other factors including our current tax structure, our existing tax positions, and expected recurring tax incentives. On an annual basis, we re-evaluate this rate for significant events, including changes in tax laws and regulations, that may materially affect our projections.  Based upon our review, our projected normalized annual non-GAAP tax rate remains 16% through fiscal year 2021.

Whenever Synopsys uses a non-GAAP financial measure, it provides a reconciliation of the non-GAAP financial measure to the most closely applicable GAAP financial measure. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measure as detailed below, as well as Item 2.02 of the Current Report on Form 8-K filed on December 2, 2020 for additional information about the measures Synopsys uses to evaluate its core business operations.

Reconciliation of Fourth Quarter and Fiscal Year 2020 Results

The following tables reconcile the specific items excluded from GAAP in the calculation of non-GAAP net income and earnings per share for the periods indicated below.

GAAP to Non-GAAP Reconciliation of Fourth Quarter and Fiscal Year 2020 Results (1)

(unaudited and in thousands, except per share amounts)










Three Months Ended


Twelve Months Ended


October 31,


October 31,


2020


2019


2020


2019

GAAP net income

$   197,455


$   160,714


$   664,347


$   532,367

Adjustments:








Amortization of intangible assets

21,004


23,776


91,281


100,914

Stock compensation

78,429


40,174


248,584


155,001

Acquisition-related costs

3,259


1,782


14,096


5,730

Restructuring charges

(387)


13,440


36,059


47,186

Legal matters

-


-


-


(18,000)

Tax settlement

-


-


-


17,418

Tax adjustments

(52,084)


(62,818)


(189,798)


(138,093)

Non-GAAP net income 

$   247,676


$   177,068


$   864,569


$   702,523


























Three Months Ended


Twelve Months Ended


October 31,


October 31,


2020


2019


2020


2019

GAAP diluted net income per share

$         1.26


$         1.04


$         4.27


$         3.45

Adjustments:








Amortization of intangible assets

0.13


0.15


0.59


0.65

Stock compensation

0.50


0.26


1.60


1.01

Acquisition-related costs

0.02


0.01


0.08


0.04

Restructuring charges

-


0.09


0.23


0.31

Legal matters

-


-


-


(0.12)

Tax settlement

-


-


-


0.11

Tax adjustments

(0.33)


(0.40)


(1.22)


(0.89)

Non-GAAP diluted net income per share

$         1.58


$         1.15


$         5.55


$         4.56









Shares used in computing diluted net income per share amounts:

156,825


154,532


155,706


154,190


(1) Synopsys' fourth quarter of fiscal year 2020 and 2019 ended on October 31, 2020 and November 2, 2019, respectively. For presentation purposes, we refer to the closest calendar month end.


Reconciliation of Fiscal Year 2021 Targets

The following tables reconcile the specific items excluded from GAAP in the calculation of non-GAAP targets for the periods indicated below.

GAAP to Non-GAAP Reconciliation of First Quarter Fiscal Year 2021 Targets (1)

(in thousands, except per share amounts)








 Range for Three Months Ending 


January 31, 2021


Low


High

Target GAAP expenses

$    767,000


$    785,000

Adjustments:




      Estimated impact of amortization of intangible assets

(19,000)


(22,000)

      Estimated impact of stock compensation

(74,000)


(79,000)

Target non-GAAP expenses

$    674,000


$    684,000












Range for Three Months Ending


January 31, 2021


Low


High

Target GAAP earnings per share

$          1.05


$          1.16

Adjustments:




      Estimated impact of amortization of intangible assets

0.14


0.12

      Estimated impact of stock compensation

0.50


0.47

      Estimated impact of tax adjustments

(0.25)


(0.26)

Target non-GAAP earnings per share

$          1.44


$          1.49





Shares used in non-GAAP calculation (midpoint of target range)

156,500


156,500









GAAP to Non-GAAP Reconciliation of Full Fiscal Year 2021 Targets(1)

(in thousands, except per share amounts)








Range for Fiscal Year Ending


October 31, 2021


Low


High

Target GAAP expenses

$ 3,226,000


$ 3,271,000

Adjustments:




      Estimated impact of amortization of intangible assets

(71,000)


(76,000)

      Estimated impact of stock compensation

(330,000)


(340,000)

Target non-GAAP expenses

$ 2,825,000


$ 2,855,000












Range for Fiscal Year Ending


October 31, 2021


Low


High

Target GAAP earnings per share

$          4.39


$          4.54

Adjustments:




     Estimated impact of amortization of intangible assets

0.48


0.45

     Estimated impact of stock compensation

2.16


2.10

     Estimated impact of tax adjustments

(0.80)


(0.79)

Target non-GAAP earnings per share

$          6.23


$          6.30





Shares used in non-GAAP calculation (midpoint of target range)

157,500


157,500


(1) Synopsys' first fiscal quarter and fiscal year will end on January 30, 2021 and October 30, 2021, respectively. For presentation purposes, we refer to the closest calendar month end. 


Forward-Looking Statements

This press release contains forward-looking statements  including, but not limited to, statements regarding Synopsys' short-term and long-term financial targets, expectations and objectives; business outlook, opportunities and strategies; customer demand and market expansion; strategies related to our products and technology; our planned product releases and capabilities; industry growth rates; software trends; planned acquisitions and buybacks; our expected tax rate; the expected impact of U.S. and foreign government action on our results; and the expected impact of the COVID-19 pandemic. These statements involve risks, uncertainties and other factors that could cause our actual results, time frames or achievements to differ materially from those expressed or implied in our forward-looking statements. Such risks, uncertainties and factors include, but are not limited to: risks from the effect of the COVID-19 pandemic and the associated economic downturn on our business, operations and financial condition; uncertainty in the growth of the semiconductor and electronics industries; consolidation among our customers and our dependence on a relatively small number of large customers; risks and compliance obligations relating to the global nature of our operations as well as actions by the U.S. or foreign governments, such as measures in response to the COVID-19 pandemic or the imposition of additional tariffs or export restrictions; macroeconomic conditions and uncertainty in the global economy; fluctuation of our operating results; increased variability in our revenue due to the adoption of ASC 606, including the resulting increase in recognizing upfront revenue as a percentage of total revenue; and more. Additional information on potential risks, uncertainties and other factors that could affect Synopsys' results is included in filings it makes with the Securities and Exchange Commission from time to time, including in the sections entitled "Risk Factors" in its Annual Report on Form 10-K for the fiscal year ended October 31, 2019 and its latest Quarterly Report on Form 10-Q. The information provided herein is as of December 2, 2020.  Synopsys undertakes no duty, and does not intend to update any forward-looking statement, whether as a result of new information, future events or otherwise, unless required by law.

 

SYNOPSYS, INC.

Unaudited Consolidated Statements of Operations(1)

(in thousands, except per share amounts)


















Three Months Ended 


Twelve Months Ended


October 31,


October 31,


2020


2019


2020


2019

Revenue:








  Time-based products

$  606,598


$ 548,375


$ 2,365,199


$ 2,197,965

  Upfront products

244,155


168,325


735,572


619,791

  Maintenance and service

174,686


134,381


584,510


542,938

      Total revenue

1,025,439


851,081


3,685,281


3,360,694

Cost of revenue:








  Products

142,838


112,964


487,307


459,127

  Maintenance and service

69,991


56,083


254,931


234,196

  Amortization of intangible assets

11,720


13,696


52,452


59,623

     Total cost of revenue

224,549


182,743


794,690


752,946

Gross margin

800,890


668,338


2,890,591


2,607,748

Operating expenses:








  Research and development

339,566


290,503


1,279,022


1,136,932

  Sales and marketing

176,499


161,170


632,010


632,890

  General and administrative

79,796


63,424


284,530


229,218

  Amortization of intangible assets 

9,284


10,080


38,829


41,291

  Restructuring charges

(387)


13,440


36,059


47,186

     Total operating expenses

604,758


538,617


2,270,450


2,087,517

Operating income

196,132


129,721


620,141


520,231

Other income (expense), net

(4,095)


1,902


18,018


25,275

Income before income taxes

192,037


131,623


638,159


545,506

Provision (benefit) for income taxes

(4,989)


(29,091)


(25,288)


13,139

Net income

197,026


160,714


663,447


532,367

Net income (loss) attributed to non-controlling interest

(429)


-


(900)


-

Net income attributed to Synopsys

$  197,455


$ 160,714


$    664,347


$    532,367









Net income per share:








  Basic

$        1.30


$       1.07


$          4.40


$          3.55

  Diluted

$        1.26


$       1.04


$          4.27


$          3.45









Shares used in computing per share amounts:








  Basic

152,349


150,367


151,135


149,872

  Diluted

156,825


154,532


155,706


154,190


(1) Synopsys' fourth quarter of fiscal year 2020 and 2019 ended on October 31, 2020 and November 2, 2019, respectively. For presentation purposes, we refer to the closest calendar month end.




SYNOPSYS, INC.

Unaudited Consolidated Balance Sheets (1)

(in thousands, except par value amounts)






October 31, 2020


October 31, 2019

ASSETS:




Current assets:




  Cash and cash equivalents

$          1,235,653


$             728,597

  Accounts receivable, net

780,709


553,895

  Inventories, net

192,333


141,518

  Income taxes receivable and prepaid taxes

32,355


24,855

  Prepaid and other current assets

308,167


290,052

          Total current assets

2,549,217


1,738,917

Property and equipment, net

483,818


429,532

Operating lease right-of-use assets, net

465,818


-

Goodwill

3,365,114


3,171,179

Intangible assets, net

254,322


279,374

Long-term prepaid taxes

8,276


15,503

Deferred income taxes

497,546


390,129

Other long-term assets

405,951


380,526

           Total assets

$          8,030,062


$          6,405,160





LIABILITIES AND STOCKHOLDERS' EQUITY:




Current liabilities:




  Accounts payable and accrued liabilities

$             623,664


$             506,459

  Operating lease liabilities, current

73,173


-

  Accrued income taxes

27,738


15,904

  Deferred revenue

1,388,263


1,212,476

  Short-term debt

27,084


17,614

           Total current liabilities

2,139,922


1,752,453

Operating lease liabilities, non-current

462,411


-

Long-term accrued income taxes

25,178


29,911

Long-term deferred revenue

104,850


90,102

Long-term debt

100,823


120,093

Other long-term liabilities

284,511


323,725

           Total liabilities

3,117,695


2,316,284

Stockholders' equity:




  Preferred stock, $0.01 par value: 2,000 shares authorized; none outstanding

-


-

  Common stock, $0.01 par value: 400,000 shares authorized; 152,618 and




      150,331 shares outstanding, respectively

1,528


1,503

  Capital in excess of par value

1,653,166


1,635,455

  Retained earnings

3,795,397


3,164,144

  Treasury stock, at cost: 4,643 and 6,930 shares, respectively

(488,613)


(625,642)

  Accumulated other comprehensive income (loss) 

(54,074)


(92,447)

           Total Synopsys stockholders' equity

4,907,404


4,083,013

Non-controlling interest

4,963


5,863

           Total stockholders' equity

4,912,367


4,088,876

           Total liabilities and stockholders' equity

$          8,030,062


$          6,405,160


(1) Synopsys' fiscal year 2020 and 2019 ended on October 31, 2020 and November 2, 2019, respectively. For presentation purposes, we refer to the closest calendar month end.




SYNOPSYS, INC.

Unaudited Consolidated Statements of Cash Flows (1)

(in thousands)






Twelve Months Ended


October 31,


2020


2019

CASH FLOWS FROM OPERATING ACTIVITIES:




Net income attributed to Synopsys

$    664,347


$ 532,367

Adjustments to reconcile net income to net cash provided by




operating activities:




Amortization and depreciation

209,986


201,676

Reduction of operating lease right-of-use assets

82,895


-

Amortization of capitalized costs to obtain revenue contracts

61,185


62,750

Stock-based compensation

248,584


155,001

Allowance for doubtful accounts

20,875


11,669

(Gain) loss on sale of property and investments

(1,994)


(4,052)

Deferred income taxes

(111,526)


(82,620)

Other non-cash

5,419


(993)

Net changes in operating assets and liabilities, net of




acquired assets and liabilities:




Accounts receivable

(236,806)


(8,575)

Inventories

(55,024)


(17,396)

Prepaid and other current assets

(11,298)


(49,779)

Other long-term assets

(83,367)


(125,749)

Accounts payable and accrued liabilities

113,773


(19,280)

Operating lease liabilities

(78,578)


-

Income taxes

14,120


19,777

Deferred revenue

148,722


125,717

Net cash provided by operating activities

991,313


800,513





CASH FLOWS FROM INVESTING ACTIVITIES:




Proceeds from sales of long-term investments

2,151


6,361

Purchases of long-term investments

(2,762)


(3,245)

Purchases of property and equipment

(154,717)


(198,129)

Cash paid for acquisitions and intangible assets, net of cash acquired

(201,045)


(36,605)

Capitalization of software development costs

(4,045)


(4,259)

Net cash used in investing activities

(360,418)


(235,877)





CASH FLOWS FROM FINANCING ACTIVITIES:




Proceeds from credit facilities

276,489


192,897

Repayment of debt

(288,879)


(524,063)

Issuances of common stock

197,403


156,364

Payments for taxes related to net share settlement of equity awards

(82,225)


(57,143)

Purchases of treasury stock

(242,078)


(329,185)

Other

(1,316)


(762)

Net cash used in financing activities

(140,606)


(561,892)

Effect of exchange rate changes on cash, cash equivalents and restricted cash

17,154


2,782

Net change in cash, cash equivalents and restricted cash

507,443


5,526

Cash, cash equivalents and restricted cash, beginning of year

730,527


725,001

Cash, cash equivalents and restricted cash, end of period

$ 1,237,970


$ 730,527


(1) Synopsys' fiscal year 2020 and 2019 ended on October 31, 2020 and November 2, 2019, respectively. For presentation purposes, we refer to the closest calendar month end.




SYNOPSYS, INC.

Business Segment Reporting (1)

(in millions)










Q4'20


Q4'19


FY'20


FY'19

Revenue by segment








- Semiconductor & System Design

$                    934.6


$                    765.8


$                 3,327.2


$                 3,026.1

% of Total

91.1%


90.0%


90.3%


90.0%

- Software Integrity

$                      90.8


$                      85.3


$                    358.1


$                    334.6

% of Total

8.9%


10.0%


9.7%


10.0%

Total segment revenue

$                 1,025.4


$                    851.1


$                 3,685.3


$                 3,360.7









Adjusted operating income by segment








- Semiconductor & System Design

$                    293.5


$                    202.1


$                    990.8


$                    806.6

- Software Integrity

$                        6.2


$                        9.4


$                      40.8


$                      32.2

Total adjusted segment operating income

$                    299.7


$                    211.5


$                 1,031.6


$                    838.8









Adjusted operating margin by segment








- Semiconductor & System Design

31.4%


26.4%


29.8%


26.7%

- Software Integrity

6.8%


11.0%


11.4%


9.6%

Total adjusted segment operating margin

29.2%


24.8%


28.0%


25.0%










Total Adjusted Segment Operating Income Reconciliation (1)(2)

(in millions)










Three Months


Three Months 


Twelve Months 


Twelve Months 


 Ended


Ended


Ended


Ended


October 31, 2020 (3)


October 31, 2019 (3)


October 31, 2020 (3)


October 31, 2019 (3)

GAAP total operating income – as reported

$                    196.1


$                    129.7


$                    620.1


$                    520.2

Other expenses managed at consolidated level








-Amortization of intangible assets

21.0


23.8


91.3


100.9

-Stock compensation

78.4


40.2


248.6


155.0

-Fair value changes in executive deferred compensation plan

1.3


2.6


21.5


27.8

-Acquisition-related costs

3.3


1.8


14.1


5.7

-Restructuring

(0.4)


13.4


36.1


47.2

-Legal matters

-


-


-


(18.0)

Total adjusted segment operating income

$                    299.7


$                    211.5


$             1,031.6


$                    838.8










(1) Synopsys manages the business on a long-term, annual basis, and considers quarterly fluctuations of revenue and profitability as normal elements of our business. Quarterly variability, which increases as a result of ASC 606, should be expected. Amounts may not foot due to rounding.


(2) These segment results are consistent with the information required by ASC 280, Segment Reporting. They are presented to reflect the information that is considered by Synopsys' chief operating decision makers (CODMs) to evaluate the operating performance of its segments. The CODMs do not allocate certain operating expenses managed at a consolidated level to our reportable segments, and as a result, the reported operating income and operating margin do not include these unallocated expenses as shown in the table above. Amounts may not foot due to rounding.


(3) Synopsys' fourth quarter of fiscal year 2020 ended on October 31, 2020, and its fiscal year 2019 ended on November 2, 2019. For presentation purposes, we refer to the closest calendar month end.


INVESTOR CONTACT:
Lisa L. Ewbank
Synopsys, Inc.
650-584-1901
Synopsys-ir@synopsys.com 

EDITORIAL CONTACT:
Simone Souza
Synopsys, Inc.
650-584-6454
simone@synopsys.com

 

SOURCE Synopsys, Inc.