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21/05/2009
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Synopsys has a announced a 3.8% year on year revenue increase in its financial results for Q2 2009.
 The EDA specialist reported revenue of $336.8million compared to $324.6m for the same period in 2008.
Aart de Geus, chairman and ceo of Synopsys, said: "Synopsys continues to execute well in an environment that still shows signs of economic stress. Customers are choosing Synopsis for its strong technology, global support, continued investmenty in the future and financial strength."
The company also announced its financial targets for the third quarter and full fiscal year, with revenue estimated at between $342m and $350m. Synopsis' full year fiscal target forecast is approximately $1.35billion to $1.38bn.
However, Synopsys' tentative settlement with the IRS to resolve a dispute over its returns between 2002 to 2004 could result in a large payout. If approved by the government, the company could be forced to make a cash payment to the IRS of approximately $50m. Nevertheless, Synopsis claimed that it didn't expect a material impact to its income statement.
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Author
Chris Shaw
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