Synopsys, Inc., a world leader in software and IP for semiconductor design, verification and manufacturing, today reported results for its second quarter of fiscal year 2011.

For the second quarter of fiscal year 2011, Synopsys reported revenue of $393.7 million, compared to $338.1 million for the second quarter of fiscal 2010, an increase of 16.4%.

"Synopsys delivered strong second quarter results as we continue to execute well," said Aart de Geus, chairman and CEO of Synopsys. "Our technology pipeline, delivery and customer adoption remain strong, and we continue to see momentum in our IP and Systems products."

GAAP Results

On a generally accepted accounting principles (GAAP) basis, net income for the second quarter of fiscal 2011 was $81.1 million, or $0.53 per share, compared to $39.5 million, or $0.26 per share, for the second quarter of fiscal 2010. Net income for the second quarter of fiscal 2011 includes a one-time $32.8 million, or $0.21 per share, tax benefit associated with a settlement with the IRS for audits for fiscal years 2006 through 2009.

Non-GAAP Results

On a non-GAAP basis, net income for the second quarter of fiscal 2011 was $68.5 million, or $0.45 per share, compared to non-GAAP net income of $61.9 million, or $0.41 per share, for the second quarter of fiscal 2010.