Synopsys, Inc., a global leader providing software, IP and services used to accelerate innovation in chips and electronic systems, yesterday reported results for its first quarter of fiscal year 2013.

For the first quarter of fiscal year 2013, Synopsys reported revenue of $475.1 million, compared to $425.5 million for the first quarter of fiscal 2012, an increase of 11.7 percent.

“In the first fiscal quarter of 2013 our business, technology progress, and customer engagements were strong across the board,” said Aart de Geus, chairman and co-CEO of Synopsys. 

“Semiconductor companies are aggressively pushing both technology and efficiency to develop differentiated products within very tight market windows, and Synopsys is a key partner in these quests. Because of our strong first fiscal quarter results, including the impact of the reinstatement of the federal R&D tax credit, and confidence in our business, we are raising our non-GAAP earnings per share target for the year.”