Cadence Design Systems Earnings: Everything You Must Know Now

Cadence Design Systems Inc. (NASDAQ:CDNS) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.

Cadence Design Systems Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 10.53% to $0.21 in the quarter versus EPS of $0.19 in the year-earlier quarter.

Revenue: Rose 10.88% to $362 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Cadence Design Systems Inc. reported adjusted EPS income of $0.21 per share. By that measure, the company beat the mean analyst estimate of $0.20. It beat the average revenue estimate of $359.6 million.

Quoting Management: “Cadence announced two new products, the Tempus Timing Signoff Solution, a significant advancement in static timing analysis and closure, and Virtuoso for Electrically Aware Design, a groundbreaking new approach to improve automation for custom/analog design, both of which demonstrate the strength of our innovation engine,” said Lip-Bu Tan, president and chief executive officer. He continued, “With the acquisitions of Tensilica, Cosmic Circuits and the IP business of Evatronix, we now have the critical mass needed to fulfill a broad spectrum of our customers’ IP requirements.”

Key Stats (on next page)…

Revenue increased 2.18% from $354.27 million in the previous quarter. EPS were the same at $0.21 as the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.23 and has not changed. For the current year, the average estimate has moved down from a profit of $0.89 to a profit of $0.88 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)