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Toys Market in Europe to Grow by USD 9.27 Billion (2024-2028), Driven by Premiumization and AI-Influenced Market Trends - Technavio
FPGA-Accelerated LLMs: The Future of AI Inferencing is HereResults Summary 1 SUNNYVALE, Calif. , Dec. 4, 2024 /PRNewswire/ -- Synopsys, Inc. (Nasdaq: SNPS ) today reported results for its fourth quarter and fiscal year 2024. Revenue for the fourth quarter of fiscal year 2024 was $1.636 billion , compared to $1.467 billion for the fourth quarter of fiscal year 2023. Revenue for fiscal year 2024 was $6.127 billion , an increase of approximately 15% from $5.318 billion in fiscal year 2023. "The fourth quarter was a strong finish to a transformational year for Synopsys. We achieved record financial results while doubling down on our strategy with the sale of our Software Integrity business and the pending acquisition of Ansys," said Sassine Ghazi , president and CEO of Synopsys. "Looking ahead, the AI-driven reinvention of compute is accelerating the pace, scale and complexity of technology R&D, which expands our opportunity to solve engineering challenges from silicon to systems." "Continued strong execution drove excellent Q4 results, which exceeded the midpoint of our guidance targets and capped a year of 15% revenue growth for the company," said Shelagh Glaser , CFO of Synopsys. "The combination of our execution focus, operating discipline, and the critical nature of our industry-leading technology positions us well for the future. In 2025, we expect to deliver double-digit revenue growth grounded in pragmatism given continued macro uncertainties and the impact of our fiscal year calendar change." Synopsys' previously announced acquisition of Ansys is expected to close in the first half of 2025, subject to the receipt of required regulatory approvals and other customary closing conditions. This week marked the expiration of the Hart-Scott-Rodino (HSR) Act waiting period, and Synopsys is working cooperatively with Federal Trade Commission (FTC) staff to conclude the investigation and the staff's review of Synopsys' proposed remedies. _______________________________________________ 1 On September 30, 2024, Synopsys completed the sale of its Software Integrity business. Synopsys' Software Integrity business has been presented as a discontinued operation in the consolidated financial statements for all periods presented herein and all financial results and targets are presented herein on a continuing operations basis unless otherwise noted. Continuing Operations On September 30, 2024 , Synopsys completed the sale of its Software Integrity business. Unless otherwise noted, Synopsys' Software Integrity business has been presented as a discontinued operation in the Synopsys' consolidated financial statements for all periods presented herein and all financial results and targets are presented herein on a continuing operations basis. GAAP Results On a U.S. generally accepted accounting principles (GAAP) basis, net income for the fourth quarter of fiscal year 2024 was $279.3 million , or $1.79 per diluted share, compared to $346.1 million , or $2.23 per diluted share, for the fourth quarter of fiscal year 2023. GAAP net income for fiscal year 2024 was $1.442 billion , or $9.25 per diluted share, compared to $1.227 billion , or $7.91 per diluted share, for fiscal year 2023. Non-GAAP Results On a non-GAAP basis, net income for the fourth quarter of fiscal year 2024 was $529.9 million , or $3.40 per diluted share, compared to non-GAAP net income of $464.1 million , or $3.00 per diluted share, for the fourth quarter of fiscal year 2023. Non-GAAP net income for fiscal year 2024 was $2.058 billion , or $13.20 per diluted share, compared to non-GAAP net income of $1.636 billion , or $10.54 per diluted share, for fiscal year 2023. For a reconciliation of net income, earnings per diluted share and other measures on a GAAP and non-GAAP basis, see "GAAP to Non-GAAP Reconciliation" in the accompanying tables below. Business Segments Synopsys reports revenue and operating income in two segments: (1) Design Automation, which includes our advanced silicon design, verification products and services, system integration products and services, digital, custom and field programmable gate array IC design software, verification software and hardware products, manufacturing software products and other and (2) Design IP, which includes our interface, foundation, security, and embedded processor IP, IP subsystems, and IP implementation services. Financial Targets Synopsys also provided its consolidated financial targets for the first quarter and full fiscal year 2025. These targets reflect a change in Synopsys' fiscal year from a 52/53-week period ending on the Saturday nearest to October 31 of each year to October 31 of each year. As a result of this change, there will be ten fewer days in the first half of fiscal year 2025 and two extra days in the second half of fiscal year 2025, which results in eight fewer days in the aggregate in Synopsys' fiscal year 2025 as compared to its fiscal year 2024. These targets also assume no further changes to export control restrictions or the current U.S. government "Entity List" restrictions. These targets constitute forward-looking statements and are based on current expectations. For a discussion of factors that could cause actual results to differ materially from these targets, see "Forward-Looking Statements" below. First Quarter and Full Fiscal Year 2025 Financial Targets (1) (in millions except per share amounts) Range for Three Months Ending Range for Fiscal Year Ending January 31, 2025 October 31, 2025 Low High Low High Revenue $ 1,435 $ 1,465 $ 6,745 $ 6,805 GAAP Expenses $ 1,142 $ 1,162 $ 4,926 $ 4,983 Non-GAAP Expenses $ 945 $ 955 $ 4,045 $ 4,085 Non-GAAP Interest and Other Income (Expense), net $ 20 $ 22 $ 94 $ 98 Non-GAAP Tax Rate 16 % 16 % 16 % 16 % Outstanding Shares (fully diluted) 156 158 157 159 GAAP EPS $ 1.81 $ 1.95 $ 10.42 $ 10.63 Non-GAAP EPS $ 2.77 $ 2.82 $ 14.88 $ 14.96 Operating Cash Flow ~ $1,800 Free Cash Flow (2) ~ $1,600 Capital Expenditures ~ $170 (1) Synopsys' first quarter of fiscal year 2025 will end on January 31, 2025 and its fiscal year 2025 will end on October 31, 2025. (2) Free cash flow is calculated as cash provided from operating activities less capital expenditures. For a reconciliation of Synopsys' first quarter and fiscal year 2025 targets, including expenses, earnings per diluted share and other measures on a GAAP and non-GAAP basis and a discussion of the financial targets that we are not able to reconcile without unreasonable efforts, see "GAAP to Non-GAAP Reconciliation" in the accompanying tables below. Earnings Call Open to Investors Synopsys will hold a conference call for financial analysts and investors today at 2:00 p.m. Pacific Time. A live webcast of the call will be available on Synopsys' corporate website at investor.synopsys.com . Synopsys uses its website as a tool to disclose important information about Synopsys and comply with its disclosure obligations under Regulation Fair Disclosure. A webcast replay will also be available on the corporate website from approximately 5:30 p.m. Pacific Time today through the time Synopsys announces its results for the first quarter of fiscal year 2025 in February 2025. Effectiveness of Information The targets included in this press release, the statements made during the earnings conference call, the information contained in the financial supplement and the corporate overview presentation, each of which are available on Synopsys' corporate website at www.synopsys.com (collectively, the " Earnings Materials "), represent Synopsys' expectations and beliefs as of December 4, 2024 . Although these Earnings Materials will remain available on Synopsys' website through the date of the earnings call for the first quarter of fiscal year 2025, their continued availability through such date does not mean that Synopsys is reaffirming or confirming their continued validity. Synopsys undertakes no duty and does not intend to update any forward-looking statement, whether as a result of new information or future events, or otherwise update, the targets given in this press release unless required by law. Availability of Final Financial Statements Synopsys will include final financial statements for the fiscal year 2024 in its annual report on Form 10-K to be filed on or before January 2, 2025 . About Synopsys Catalyzing the era of pervasive intelligence, Synopsys, Inc. (Nasdaq: SNPS) delivers trusted and comprehensive silicon to systems design solutions, from electronic design automation to silicon IP and system verification and validation. We partner closely with semiconductor and systems customers across a wide range of industries to maximize their R&D capability and productivity, powering innovation today that ignites the ingenuity of tomorrow. Learn more at www.synopsys.com . Reconciliation of Fourth Quarter and Fiscal Year 2024 Results The following tables reconcile the specific items excluded from GAAP in the calculation of non-GAAP net income, earnings per diluted share, and tax rate for the periods indicated below. GAAP to Non-GAAP Reconciliation of Fourth Quarter and Fiscal Year 2024 Results (1) (unaudited and in thousands, except per share amounts) Three Months Ended Twelve Months Ended October 31, October 31, 2024 2023 2024 2023 GAAP net income from continuing operations attributed to Synopsys $ 279,281 $ 346,051 $ 1,441,710 $ 1,227,045 Adjustments: Amortization of acquired intangible assets 54,258 14,886 104,220 50,477 Stock-based compensation 165,116 128,286 656,632 511,730 Acquisition/divestiture related items 62,428 4,016 172,638 13,831 Restructuring charges â (1,348) â 53,091 Gain on sale of strategic investments â â (55,077) â Tax settlement â â â (23,752) Tax adjustments (31,158) (27,753) (262,322) (196,471) Non-GAAP net income from continuing operations attributed to Synopsys $ 529,925 $ 464,138 $ 2,057,801 $ 1,635,951 Three Months Ended Twelve Months Ended October 31, October 31, 2024 2023 2024 2023 GAAP net income from continuing operations per diluted share attributed to Synopsys $ 1.79 $ 2.23 $ 9.25 $ 7.91 Adjustments: Amortization of acquired intangible assets 0.35 0.10 0.67 0.33 Stock-based compensation 1.06 0.83 4.21 3.30 Acquisition/divestiture related items 0.40 0.03 1.11 0.09 Restructuring charges â (0.01) â 0.34 Gain on sale of strategic investments â â (0.35) â Tax settlement â â â (0.15) Tax adjustments (0.20) (0.18) (1.69) (1.28) Non-GAAP net income from continuing operations per diluted share attributed to Synopsys $ 3.40 $ 3.00 $ 13.20 $ 10.54 Shares used in computing net income per diluted share amounts: 155,991 154,845 155,944 155,195 (1) Synopsys' fourth quarter of fiscal year 2024 and 2023 ended on November 2, 2024 and October 28, 2023, respectively. For presentation purposes, we refer to the closest calendar month end. Fiscal year 2024 was a 53-week year, which included an extra week in the first quarter. GAAP to Non-GAAP Tax Rate Reconciliation (1)(2) (unaudited) Twelve Months Ended October 31, 2024 GAAP effective tax rate 6.6 % Stock-based compensation 2.9 % Income tax adjustments (3) 5.5 % Non-GAAP effective tax rate 15.0 % (1) Synopsys' fiscal year 2024 ended on November 2, 2024. For presentation purposes, we refer to the closest calendar month end. Fiscal year 2024 was a 53-week year, which included an extra week in the first quarter. (2) Presented on a continuing operations basis. (3) The adjustments are primarily related to the differences in the tax rate effect of certain deductions, such as the deduction for foreign-derived intangible income and credits. GAAP to Non-GAAP Reconciliation of 2025 Targets The following tables reconcile the specific items excluded from GAAP in the calculation of non-GAAP targets for the periods indicated below. GAAP to Non-GAAP Reconciliation of First Quarter Fiscal Year 2025 Targets (in thousands, except per share amounts) Range for Three Months Ending January 31, 2025 Low High Target GAAP expenses $ 1,142,000 $ 1,162,000 Adjustments: Amortization of acquired intangible assets (12,000) (15,000) Stock-based compensation (185,000) (192,000) Target non-GAAP expenses $ 945,000 $ 955,000 Range for Three Months Ending January 31, 2025 Low High Target GAAP earnings per diluted share attributed to Synopsys $ 1.81 $ 1.95 Adjustments: Amortization of acquired intangible assets 0.10 0.08 Stock-based compensation 1.22 1.18 Acquisition/divestiture related items (1) 0.08 0.06 Tax adjustments (0.44) (0.45) Target non-GAAP earnings per diluted share attributed to Synopsys $ 2.77 $ 2.82 Shares used in non-GAAP calculation (midpoint of target range) 157,000 157,000 GAAP to Non-GAAP Reconciliation of Full Fiscal Year 2025 Targets (in thousands, except per share amounts) Range for Fiscal Year Ending October 31, 2025 Low High Target GAAP expenses $ 4,926,000 $ 4,983,000 Adjustments: Amortization of acquired intangible assets (46,000) (51,000) Stock-based compensation (835,000) (847,000) Target non-GAAP expenses $ 4,045,000 $ 4,085,000 Range for Fiscal Year Ending October 31, 2025 Low High Target GAAP earnings per diluted share attributed to Synopsys $ 10.42 $ 10.63 Adjustments: Amortization of acquired intangible assets 0.32 0.29 Stock-based compensation 5.36 5.28 Acquisition/divestiture related items (1) 0.29 0.26 Tax adjustments (1.51) (1.50) Target non-GAAP earnings per diluted share attributed to Synopsys $ 14.88 $ 14.96 Shares used in non-GAAP calculation (midpoint of target range) 158,000 158,000 (1) Adjustments reflect certain contractually obligated financing fees and related amortization exNew treatment called histotripsy kills cancer cells with sound and water
Titans S Julius Wood suspended 6 games for PEDsBOSTON - A family visiting Boston left an irreplaceable VHS tape with precious memories in a rental car. They tried for weeks to get someone from the company to help them find it. Losing hope, they reached out to the I-Team's Call for Action for help. 1995 Division 1 State Championship game In 1995, the St. John's High School hockey team won the state's Division 1 Championship. Thomas Wallace was on the team and scored four goals in that game. Recently, his family was given a VHS videotape of the big win. Sherry Wallace says it is hard not to be emotional, since this was the only video the family has ever seen of the game. The video was special because Thomas died of brain cancer in 2015, leaving behind a five-year-old daughter and a three-year-old son. That son, also named Thomas is now 12 and plays hockey. Recently, his father's former teammates came to watch young Thomas skate at the same rink where St. John's won the championship. They gifted his mom the VHS tape of the game. Sherry says Thomas skates like his dad, looks exactly like him and has the same mannerisms. She knew he would cherish the video and planned to give it to him for Christmas. Videotape left in rental car in Boston The Wallace family lives in Georgia and got the gift of precious memories when they were visiting Boston last month. Wanting to make sure Thomas didn't see the tape, she hid it in the glove compartment of their Hertz rental car. Sherry says her biggest fear was somehow forgetting about it and leaving it behind. Sadly, the fear became a reality when Sherry says they dropped off the rental and flew home without it. Realizing she left it behind, Sherry says she tried calling and emailing Hertz to try to get it back. The family was just about to give up when they reached out to the I-Team's Call for Action. Within 24 hours after we contacted Hertz, employees found the car on a lot in New Jersey. Miraculously, the tape was still inside the glove compartment. In a statement Hertz said: "We are grateful to our Boston team for helping Ms. Wallace recover her cherished possession and are proud to have her as a valued Hertz customer. Memories are priceless, and we're honored to play a part in ensuring she can share this special moment of her late husband with her son this holiday season." Hertz sent the tape to Sherry via overnight mail, and she got it the next morning. "We were just blown away that you reached out to us and so fast and everything happened within a day. It was just unbelievable," Sherry said. "I just cannot thank you enough and my family can't thank you enough." Sherry is now looking forward to seeing the look on her son's face when he watches the tape Christmas morning. Hertz also gave the family loyalty points for a three-day car rental. Cheryl Fiandaca is the chief investigative reporter for the I-Team at WBZ-TV.
SANTA CLARA, Calif. , Dec. 13, 2024 /PRNewswire/ -- Marvell Technology, Inc. (NASDAQ: MRVL), today announced a quarterly dividend of $0.06 per share of common stock payable on January 30, 2025 to shareholders of record as of January 10, 2025 . About Marvell To deliver the data infrastructure technology that connects the world, we're building solutions on the most powerful foundation: our partnerships with our customers. Trusted by the world's leading technology companies for over 25 years, we move, store, process and secure the world's data with semiconductor solutions designed for our customers' current needs and future ambitions. Through a process of deep collaboration and transparency, we're ultimately changing the way tomorrow's enterprise, cloud, automotive, and carrier architectures transformâfor the better. MarvellÂź and the Marvell logo are registered trademarks of Marvell and/or its affiliates. For further information, contact: Ashish Saran Senior Vice President, Investor Relations 408-222-0777 ir@marvell.com View original content to download multimedia: https://www.prnewswire.com/news-releases/marvell-technology-inc-declares-quarterly-dividend-payment-302331636.html SOURCE Marvell
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Western Union Announces New $1 Billion Share Repurchase Program and $0.235 Quarterly DividendNEW YORK , Dec. 10, 2024 /PRNewswire/ -- Why: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Light & Wonder, Inc. (NASDAQ: LNW) resulting from allegations that Light & Wonder may have issued materially misleading business information to the investing public. So What: If you purchased Light & Wonder securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses. What to do next: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=29678 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. What is this about: On September 24, 2024 , the Las Vegas Review-Journal published an article entitled "Slot manufacturer scores major win against Las Vegas -based rival." The article stated that "Aristocrat Technologies Inc.'s request for a preliminary injunction in its trade-secret and copyright infringement lawsuit against Light & Wonder" had been granted, and that the "order prohibits [Light & Wonder] from the 'continued or planned sale, leasing, or other commercialization of Dragon Train,' which Aristocrat claims uses intellectual property developed for its Dragon Link and Lightning Link games." On this news, Light & Wonder's common stock fell 19.49% on September 24, 2024 . Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm , on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/ . Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 case@rosenlegal.com www.rosenlegal.com View original content to download multimedia: https://www.prnewswire.com/news-releases/rosen-law-firm-encourages-light--wonder-inc-investors-to-inquire-about-securities-class-action-investigation--lnw-302327948.html SOURCE THE ROSEN LAW FIRM, P. A.The champions had descended into crisis after a run of seven games without a win â six of which were defeats and the other an embarrassing 3-3 draw after leading 3-0. Four of those losses had come in the Premier League, heavily damaging their chances of claiming a fifth successive title, but they appeared to turn the corner by sweeping Forest aside at the Etihad Stadium. âWe needed it,â said City manager Guardiola. âThe club, the players, everyone needed to win. A good night's work đ«Ą Thank you for backing us all the way, City fans đ©” pic.twitter.com/UOcKm0Y6Ry â Manchester City (@ManCity) December 4, 2024 âBut it is just one game and in three days we are at Selhurst Park, where it has always been difficult. âWe played good. We still conceded some transitions and missed some easy things and lost some passes that you have to avoid, but in general, the most important thing was to break this routine of not winning games and we won it.â Kevin De Bruyne, making his first start since September after overcoming a pelvic injury, made a huge difference to a side that appeared rejuvenated. His powerful header was turned in by Bernardo Silva for the opening goal and the Belgian followed up with a powerful strike to make it 2-0. The 33-year-old is out of contract at the end of the season but it was a strong riposte to recent suggestions of a rift with Guardiola. A sweet strike đ„ âĄïž #HighSpeedMoments | @eAndGroup pic.twitter.com/WJOkfKo2zr â Manchester City (@ManCity) December 4, 2024 âIâm so happy for him,â said Guardiola of De Bruyneâs telling contribution. âLast season he was many months injured and this season as well. âIâm so happy heâs back. He fought a lot, heâs worked and heâs back with his physicality. The minutes he played in Anfield were really good and today he played 75 fantastic minutes.â Jeremy Doku wrapped up a pleasing win when he finished a rapid counter-attack just before the hour but there was still a downside for City with injuries to defenders Nathan Ake and Manuel Akanji. Guardiola said: âFor Nathan it doesnât look good and Manu has struggled a lot over the last two months. We will see. âPhil (Foden) has bronchitis but when he doesnât have fever he will be ready.â Despite Cityâs dominance, Forest did have some bright moments and manager Nuno Espirito Santo was not downbeat. He said: âWhen you lose 3-0 and you say it was a good performance maybe people donât understand, but I will not say that was a bad performance. âThere are positive things for us in the game. Of course there are a lot of bad things, mistakes, but we had chances. âWe didnât achieve but I think we come out proud of ourselves because we tried. For sure, this game will allow us to grow.â
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