Synopsys, a provider of software and IP for semiconductor design, verification and manufacturing, has posted net revenues of $364.6m for the first quarter of 2011, compared to revenue of $330.2m in Q1 FY10.
Revenue from time-based license increased to $295.6m from $272.5m, revenue from upfront license,and maintenance and service increased to $26.5m and $42.5m, from $20.4m and $37.2m, respectively.
For the quarter ended 31 January 2011, the company reported an operating income of $46.7m, a decrease of 15.2% compared to $55.1m of first quarter fiscal 2010.
Synopsys posted a net income of $48.2m or $0.31 diluted earnings per share in the first quarter of 2011, compared to net income of $132.8m or $0.88 diluted EPS in the same quarter last year.
Synopsys chairman and chief executive officer Aart de Geus said the company began fiscal 2011 with a strong first quarter, putting them well on-track towards meeting their objectives for the year.
"With a backdrop of a healthy semiconductor industry, we continue to deliver strong technology with our traditional EDA offerings, while achieving meaningful scale with our offerings in higher-growth adjacencies," Geus said.
The company expects Q2 revenue to be in a range of $386m and $394m, and GAAP earnings per share to be in a range of $0.26 and $0.31.
