Synopsys, Inc., a world leader in software and IP used in the design, verification and manufacture of electronic components and systems, today, Feb 23 reported results for its first quarter of fiscal year 2012.

For the first quarter of fiscal year 2012, Synopsys reported revenue of $425.5 million, compared to $364.6 million for the first quarter of fiscal 2011, an increase of 16.7 percent.

"Business in fiscal Q1 was strong and broad based. Combined with a solid outlook for the rest of the year, our results allow us to raise our outlook for fiscal 2012, independent of any impact from the Magma Design Automation acquisition," said Aart de Geus, chairman and CEO of Synopsys. "Customers are aggressively moving to develop advanced new products, and demand for our technology and support is high. We expect the acquisition of Magma, which closed today, will enable us to accelerate delivery of state-of-the art technology to our customers," Synopsys, Inc. press service reported.