Synopsys, Inc. (NASDAQ: SNPS) in the first quarter of FY 18 has reported a loss of $3.7 million but raised the full year 2018 revenue and non-GAAP earnings per share guidance.

SNPS in the first quarter of FY 18 has reported the adjusted earnings per share of $1.10, while adjusted revenue growth was 17.9 percent to $769.4 million in the first quarter of FY 18.

For the second quarter of FY 18, SNPS expects earnings per share to be in the range of $1.06 to $1.10. The company expects the revenue to be in the range of $765 million to $790 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $669.1 million. For the second quarter of FY 18, SNPS expects Non-GAAP expenses to be in the range of $575 million – $585 million and Annual tax rate applied in non-GAAP net income calculations to be 13 percent.

Synopsys expects full-year 2018 earnings to be in the range of $3.67 to $3.74 per share, and the revenue is expected to be in the range between $2.92 billion to $2.95 billion.

On the other hand, SNPS has announced the availability of its Verification IP (VIP) and source code Test Suite for Arm AMBA ACE5 (AXI Coherency Extensions) and AXI5. SNPS has collaborated with Arm to deliver the next-generation ACE5 and AXI5 VIP with increased performance for faster verification closure. AXI5 and ACE5 adds new features for atomic operations to improve the performance and data check and poisoning to identify data corruption. Further, ACE 5 and AXI5 adds new low power wake-up signals to provide a single, glitch-free indication that activity on the interface is required. In addition, ACE5 has added support for cache stashing to improve data locality, new de-allocating and cache maintenance transactions, as well as DVM message support for Armv7, Armv8, and Armv8.1 Cortex-A processors.

SNPS stock opened on a positive note today but could not sustain the momentum with the stock falling over 1.3% on Feb 22nd, 2018 (As of  10:03AM EST; Source: Google finance). Overall the stock has risen 22.5% in a year (source: Google Finance).