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1、Success,onechip at a time.2003 Annual ReportAgainst the entire history of Synopsys,fiscal 2003 stands outas the year that we became the#1 company in our industry!Appropriately,our first expression is one of gratitudeto ourcustomers who rely on us to provide products that enable themto consistently d
2、esign truly amazing chips,to our employees forbuilding a great company with an outstanding high-tech repu-tation and excellent customer satisfaction,and,of course,toyou,our shareholders,for your investment in Synopsys andyour confidence in our management team.Our leadership position in the electroni
3、c design automation(EDA)industry brings with it the opportunity to reinventSynopsys beyond the traditional bounds of our market.Ournew objectives are more ambitious,reflecting our confidencethat Synopsys can use its EDA leadership position to moveinto a major role in the broader“silicon infrastructu
4、re”market.We seek your investment and support for this next phase ofour evolution.Record Revenue,2-for-1 Stock DividendBriefly summarizing the past fiscal year that ended October31,2003,Synopsys broke all previous annual records withrevenues of$1.18 billion,29.8 percent over$906.5 million in2002.Pro
5、 forma*net income of$252.1 million,or$1.59 pershare,for fiscal 2003,compared well to pro forma*net incomeof$155.7 million,or$1.11 per share,for fiscal 2002anincrease of 43.2 percent.On a GAAP basis,we reported netincome of$149.7 million,or$0.95 per share,for fiscal 2003,compared to a net loss of($20
6、0.0)million,or($1.50)per share,for fiscal 2002.The difference in GAAP results for fiscal 2003and fiscal 2002 is primarily due to charges and expenses relat-ing to the Avant!acquisition that we completed in fiscal 2002.In fiscal 2003,Synopsys achieved bookings growth,and weincreased our overall backl