The company had reported the adjusted revenue growth of 12.7 percent to $1.15 billion in the fourth quarter of FY 21. SNPS in the fourth quarter of FY 21 has reported the adjusted earnings per share of $1.82, beating the analysts’ estimates for the adjusted earnings per share of $1.78, according to figures compiled by Thomson Reuters. During the year, the company completed buybacks of $788 million or 56% of free cash flow.

The company ended the year with cash and short-term investments of $1.58 billion and total debt of $100 million.

Operating cash flow for the year was a record $1.49 billion, reflecting our strong results and robust collections.

In addition, following the investments and operational adjustments we made this past year, the company expects to expand adjusted operating margin in 2022. The company expects to return to the 15% to 20% growth objective in 2022. Software Integrity segment revenue was $394 million, up 10% over the prior year, and exceeded the original plan. Semiconductor & System Design segment revenue was $3.8 billion, driven by broad-based strength across all product groups and geographies. The company has raised the long-term financial objectives to strong double-digit revenue growth, anchored in a step-up in EDA and IP targets, ongoing non-GAAP operating margin expansion, and non-GAAP earnings-per-share growth in the mid-teens range, all of which driving very strong cash flow.

(NASDAQ:SNPS) stock rose 4.63% (As on Dec 2, 1:34:47 AM UTC-4, Source: Google Finance) after the company beaten the earnings estimates for the fourth quarter of FY 21.

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