Cadence Design Systems Q4 Profit Increases, beats estimates

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

The company's earnings came in at $323.90 million, or $1.19 per share. This compares with $240.39 million, or $0.88 per share, in last year's fourth quarter.

Excluding items, Cadence Design Systems reported adjusted earnings of $376.21 million or $1.38 per share for the period.

Analysts on average had expected the company to earn $1.33 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 18.9% to $1.07 billion from $0.90 billion last year.

Cadence Design Systems earnings at a glance (GAAP) :

-Earnings (Q4): $323.90 Mln. vs. $240.39 Mln. last year. -EPS (Q4): $1.19 vs. $0.88 last year. -Analyst Estimate: $1.33 -Revenue (Q4): $1.07 Bln vs. $0.90 Bln last year.

-Guidance: Next quarter EPS guidance: $1.10 - $1.14 Next quarter revenue guidance: $0.99 - $1.01 Bln