Cadence Design Systems Q2 Profit Increases, beats estimates

(RTTNews) - Cadence Design Systems (CDNS) released a profit for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $221.12 million, or $0.81 per share. This compares with $168.92 million, or $0.68 per share, in last year's second quarter.

Excluding items, Cadence Design Systems reported adjusted earnings of $333.75 million or $1.22 per share for the period.

Analysts on average had expected the company to earn $1.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.9% to $976.58 million from $857.52 million last year.

Cadence Design Systems earnings at a glance (GAAP) :

-Earnings (Q2): $221.12 Mln. vs. $168.92 Mln. last year. -EPS (Q2): $0.81 vs. $0.68 last year. -Analyst Estimate: $1.18 -Revenue (Q2): $976.58 Mln vs. $857.52 Mln last year.

-Guidance: Full year EPS guidance: $5.05 - $5.11. Full year revenue guidance: $4.05 - $4.09 Bln