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BRIEF-Synopsys to repatriate $775 mln to $850 mln of international cash
September 9, 2017 / 1:21 AM / a month ago

BRIEF-Synopsys to repatriate $775 mln to $850 mln of international cash

Sept 8 (Reuters) - Synopsys Inc -

* Synopsys to repatriate $775-$850 million of international cash

* Board of directors has approved plan to repatriate approximately $775 to $850 million of cash currently held offshore during Q4

* Related tax payment of approximately $40 to $50 million is expected to be paid in first half of fiscal year 2018

* Synopsys Inc says repatriation is planned in anticipation of potential corporate tax reform

* Expects to record a one-time tax expense, excluded from non-GAAP results, of approximately $160 to $180 million in Q4 of FY 2017

* Sees FY 2017 GAAP earnings per share: $0.75 - $0.95

* Sees Q4 GAAP loss per share: $0.91 - $0.71

* Synopsys Inc says company expects to be able to realize benefit of its existing research and development tax credits to reduce tax payment on repatriation Source text for Eikon: Further company coverage:

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