Cadence Design Systems Q2 Profit Increases, Beats Estimates

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

The company's bottom line came in at $229.5 million, or $0.84 per share. This compares with $221.1 million, or $0.81 per share, in last year's second quarter.

Excluding items, Cadence Design Systems reported adjusted earnings of $350.7 million or $1.28 per share for the period.

Analysts on average had expected the company to earn $1.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.6% to $1.061 billion from $977 million last year.

Cadence Design Systems earnings at a glance (GAAP) :

-Earnings (Q2): $229.5 Mln. vs. $221.1 Mln. last year. -EPS (Q2): $0.84 vs. $0.81 last year. -Revenue (Q2): $1.061 Bln vs. $977 Mln last year.

-Guidance: Next quarter EPS guidance: $0.83-$0.93 Next quarter revenue guidance: $1.165-$1.195 Bln Full year EPS guidance: $3.82-$4.02 Full year revenue guidance: $4.6-$4.66 Billion