Shares of Synopsys Inc. (SNPS, Financial) jumped more than 5% on Thursday after the company reported financial results for the fourth quarter. Revenue grew 9.9% to $696.6 million. It posted EPS of 69 cents. The company managed to beat earnings expectations by 12 cents and revenue estimates by $45.88million.
Chairman and co-CEO Aart de Geus said the company had an excellent fiscal year, in which it achieved double-digit revenue and non-GAAP earnings growth.
“We saw revenue strength across the board, augmented by upside from hardware and IP, and an approximate $150 million increase in non-cancellable backlog," he said.
He went on th say the company is focusing on driving long-term shareholder value through investments and $400 million in share repurchases.
Shares of Jack in the Box Inc. (JACK, Financial) initially fell after the company announced financial results for the fourth quarter before reversing higher. EPS of 73 cents came short of expectations by 16 cents and revenue of $338.7 million missed expectations by $2.08 million and declined 15% year over year.
Chairman and CEO Lenny Comma said it was a challenging year for both brands.
“Our key initiatives in 2018 will be focused on regaining momentum in a highly competitive environment,” he said. "We continue to make significant progress on our Jack in the Box refranchising initiative, with the sale of 60 restaurants in the fourth quarter and 178 during the fiscal year”.
Moreover, the company returned over $376 million to shareholders in fiscal 2017. About $327 million was distributed through share repurchases and $49 million through dividends.
Semtech Corp.Ă‚ (SMTC) fell after the company reported financial results for the third quarter. EPS of 54 cents beat estimates by four cents. Revenue of $156.6 million beat expectations and grew 11.2% year over year.
Looking ahead, guidance is solid. For the fourth quarter, the company expects revenue between $131.5 million and $135.5 million. The gross margin is expected to be range from 58.8% to 59.9%. EPS are expected to be between eight cents and 10 cents.
Disclosure: The author holds no positions in any stocks mentioned.
