MOUNTAIN VIEW, Calif. (AP) _ Synopsys Inc. (SNPS) on Wednesday reported fiscal first-quarter net income of $104.1 million.

The Mountain View, California-based company said it had net income of 67 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, were $1.01 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.

The maker of software used to test and develop chips posted revenue of $834.4 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $822.3 million.

For the current quarter ending in May, Synopsys expects its per-share earnings to range from 96 cents to $1.01.

The company said it expects revenue in the range of $820 million to $850 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $830.6 million.

Synopsys expects full-year earnings in the range of $5.18 to $5.25 per share, with revenue ranging from $3.6 billion to $3.65 billion.

Synopsys shares have climbed 19% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $164.99, an increase of 62% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SNPS at https://www.zacks.com/ap/SNPS

Automated Insights, source Associated Press News