Synopsys, Inc. (NASDAQ:SNPS) Q1 2023 Earnings Call Transcript

Blair Abernethy : Okay. Great. And just one quick one for you, Shelagh. You mentioned $40 million to $50 million in restructuring costs. Can you just tell us sort of what areas are impacted? And is that when is that coming through in Q1, Q3 when those expenses get recognized?

Shelagh Glaser : It will come through over the first three quarters of the year. A portion of it is sitting in Q1, about $41 million of that is hitting in Q1. And what we’re really doing is we’re doing a small reduction. And then we’re taking that investment and shifting it into some of the growth areas that we’ve talked about today. So we’re using this as a way to rebalance and set ourselves up for that future growth trajectory.

Blair Abernethy : Got it. Thanks very much.

Shelagh Glaser : Thank you.

Operator: And that concludes the question-and-answer session. I would like to turn the call back over to our Chair and CEO, Aart de Geus.

Aart de Geus: Well, thank you very much for participating in the call. If nothing else, you probably heard in our voice some degree of enthusiasm for the advances that we’re making. And as you know, we will be looking forward to speaking to some of you later on today. With that, stay safe, and have a great day. Bye-bye.

Operator: And that concludes today’s presentation. Thank you for your participation. You may now disconnect.