Cadence Design Systems Q3 Profit Increases, beats estimates

(RTTNews) - Cadence Design Systems (CDNS) reported earnings for its third quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $186.31 million, or $0.68 per share. This compares with $176.31 million, or $0.63 per share, in last year's third quarter.

Excluding items, Cadence Design Systems reported adjusted earnings of $290.09 million or $1.06 per share for the period.

Analysts on average had expected the company to earn $0.97 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 20.2% to $902.55 million from $750.90 million last year.

Cadence Design Systems earnings at a glance (GAAP) :

-Earnings (Q3): $186.31 Mln. vs. $176.31 Mln. last year. -EPS (Q3): $0.68 vs. $0.63 last year. -Analyst Estimate: $0.97 -Revenue (Q3): $902.55 Mln vs. $750.90 Mln last year.

-Guidance: Next quarter EPS guidance: $0.89 to $0.93 Full year EPS guidance: $4.20 to $4.24