Cadence Design Systems Q2 Profit Decreases, But Beats Estimates

(RTTNews) - Cadence Design Systems (CDNS) reported a profit for second quarter that Decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $160.05 million, or $0.59 per share. This compares with $229.52 million, or $0.84 per share, last year.

Excluding items, Cadence Design Systems reported adjusted earnings of $449.88 million or $1.65 per share for the period.

Analysts on average had expected the company to earn $1.56 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 20.3% to $1.275 billion from $1.060 billion last year.

Cadence Design Systems earnings at a glance (GAAP) :

-Earnings: $160.05 Mln. vs. $229.52 Mln. last year. -EPS: $0.59 vs. $0.84 last year. -Revenue: $1.275 Bln vs. $1.060 Bln last year.

-Guidance: Next quarter EPS guidance: $1.75 to $1.81 Full year EPS guidance: $6.85 - $6.95 Full year revenue guidance: $5.21 - $5.27 Bln