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RF solutions provider $QRVO narrowed its loss for 3Q18, driven by robust growth in defense and IoT, and improved operating performance. Loss narrowed to $33.1MM or $0.26 per share from $78.6MM or $0.62 per share a year ago. Revenue rose 2.34% to $845.7MM. On an adjusted basis, $QRVO earned $1.69 per share.
$SNPS announced that Renesas Electronics Corporation has deployed $SNPS’DFTMAX LogicBIST solution on a mixed-signal, large scale integration (LSI) design to meet automotive safety integrity levels required by system integrators. DFTMAX LogicBIST helps to check for faults, or conditions that could cause failures, and report their presence.
$MSI signed a contract with the Ministry of Internal Affairs of the Republic of Moldova for the expansion of their mission-critical TETRA communications network. Within the framework of the contract, $MSI will extend the existing TETRA digital radio network and build a nationwide TETRA network for the Moldovan police.
$SNPS announced the formation of a Technical Advisory Board (TAB) to guide the technical direction of the Synopsys Software Integrity Group's security products and services, foster innovation and help ensure long-term business success. The TAB will be chaired by Gary McGraw, VP of security technology at Synopsys.
$RMBS said Panasonic Corporation has renewed its patent license agreement. Under the terms of the five-year extension of Panasonic's agreement, $RMBS will license Panasonic a broad range of technologies to cover products that include SoCs with DRAM memory controllers. Specific terms of the agreement are confidential.
Semiconductor company $SLAB has agreed to acquire technology firm $SIGM for $7.05 per share, in a $282MM all-cash deal. Silicon Labs expects the transaction to be accretive on a non-GAAP basis. The company intends to adopt and develop Sigma’s flagship technology Z-Wave. The transaction is expected to close in the first calendar quarter of 2018.
$SNPS has entered into accelerated share repurchase agreements (ASRs) with JPMorgan Chase Bank, National Association and MUFG Securities EMEA plc. to repurchase a total of $200MM of $SNPS stock. $SNPS will receive an aggregate initial share delivery of approx. 1.8MM shares, with the remainder to be settled on or before May 16, 2018.
$SNPS said its IP business has been very strong and this is partially the result of continued investment in the most advanced nodes. The advanced nodes keep rolling out at a rapid pace, because the providers are very competitive with each other.
In 4Q17, $SNPS initiated the repatriation of $825MM of offshore cash, taking advantage of its R&D tax credits and resulting in a cash tax rate of approx. 6%. This resulted in a GAAP-only tax expense of $166MM in 4Q17 and will drive a one-time cash tax payment of approx. $40MM in early 2018.
During 2017, $SNPS expanded its portfolio, with continued focus on automotive, IoT and security. The company expanded its IoT offering with the new ARC Secure IP subsystem for endpoint security and the IoT Development Kit to accelerate software development for sensor fusion, voice recognition and face detection designs.
$SNPS expects revenue of $740-765MM, GAAP EPS of $0.62-0.70 and adjusted EPS of $0.98-1.02 for 1Q18. For FY18, $SNPS expects revenue to be $2.88-2.91Bil, or $2.82-2.85Bil, excluding the Black Duck Software acquisition. $SNPS expects GAAP EPS of $2.24-2.38 ($2.68-2.80 ex Black Duck) and adjusted EPS of $3.46-3.53 ($3.58-3.65 ex Black Duck) in FY18.
$SNPS reported a net loss of $120.1MM or $0.80 per share in 4Q17 compared to a net income of $72.7MM or $0.47 per share in 4Q16. 4Q17 results include a one-time tax expense impact of $166MM resulting from the repatriation of approx. $825MM of offshore cash. Revenue was $696.6MM compared to $633.7MM for 4Q16.
$MSI said it will provide Leipzig/Halle Airport with its new DIMETRA X Core TETRA system. The fully scalable system will replace the existing Motorola DIMETRA IP Compact TETRA infrastructure which has been successfully deployed at the airport since 2008 for mission-critical voice and data communications.
$SNPS released its LucidShape CAA V5 Based software product, which gives designers the flexibility to simulate multiple lighting functions and optical design variations in the same part or product. This can substantially speed optical analyses and the exploration of design solutions.