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 bottom line came in at $340.21 million, or $1.24 per share. This compares with $323.90 million, or $1.19 per share, last year.

Excluding items, Cadence Design Systems reported adjusted earnings of $515.67 million or $1.88 per share for the period.

Analysts on average had expected the company to earn $1.82 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 26.9% to $1.355 billion from $1.068 billion last year.

Cadence Design Systems earnings at a glance (GAAP) :

-Earnings: $340.21 Mln. vs. $323.90 Mln. last year. -EPS: $1.24 vs. $1.19 last year. -Revenue: $1.355 Bln vs. $1.068 Bln last year.

-Guidance: Next quarter EPS guidance: $1.46 to $1.52