UPDATE 1-Synopsys Q2 profit up, cuts 2009 revenue view

* Q2 adj shr $0.45 vs $0.40 estimate

* Trims 2009 rev view

* Sees payment of $50 mln to IRS for settling dispute

May 20 (Reuters) - Synopsys Inc (SNPS.O) posted second-quarter results that beat analysts' expectations, helped by higher licensing revenue, but the chip-design software maker trimmed its 2009 revenue outlook.

The company also said it reached a tentative settlement with the Internal Revenue Service (IRS) to resolve a dispute regarding some returns associated with an acquisition that could result in a payment of about $50 million to the IRS.

The company, however, said it sees no material impact to its income statement from the settlement, which was yet to be approved by the government, and added that the payment would be fully offset by tax reductions in the future.

For the second quarter, the company posted a profit of $48.3 million, or 33 cents a share, compared with $39.4 million, or 27 cents a share, a year ago.

Excluding items, it earned 45 cents a share.

Revenue rose about 4 percent to $336.8 million.

Analysts were expecting a profit of 40 cents a share, before items, on revenue of about $336 million, according to Reuters Estimates.

For 2009, the company expects revenue of $1.35 billion to $1.38 billion, compared with its earlier forecast of $1.37 billion to $1.4 billion.

Synopsys also shaved a penny off the top end of its 2009 earnings forecast and said it now sees earnings in the range of $1.11 to $1.26 a share.

Earlier this month, the company's biggest rival in the electronic design automation (EDA) market, Cadence Design Systems Inc (CDNS.O), posted a narrower-than-expected quarterly loss of 10 cents a share, helped by lower costs.

Shares of the Mountain View, California-based company closed at $21.62 Wednesday on Nasdaq. (Reporting by Sayantani Ghosh in Bangalore;)