Cadence Design Systems Q3 adjusted earnings Beat Estimates

(RTTNews) - Cadence Design Systems (CDNS) released a profit for its third quarter that rose from the same period last year.

The company's earnings totaled $176.31 million, or $0.63 per share. This compares with $161.63 million, or $0.58 per share, in last year's third quarter.

Excluding items, Cadence Design Systems reported adjusted earnings of $221.58 million or $0.80 per share for the period.

Analysts had expected the company to earn $0.75 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.6% to $750.90 million from $666.61 million last year.

Cadence Design Systems earnings at a glance:

-Earnings (Q3): $221.58 Mln. vs. $197.05 Mln. last year. -EPS (Q3): $0.80 vs. $0.70 last year. -Analysts Estimate: $0.75 -Revenue (Q3): $750.90 Mln vs. $666.61 Mln last year.

-Guidance: Next quarter EPS guidance: 0.76 - $0.80 Next quarter revenue guidance: $745 - $765 Mln Full year EPS guidance: $3.24 - $3.28 Full year revenue guidance: $2.96 - $2.98 Bln