CIMdata PLM Industry Summary Online Archive
24 October 2012
Financial News
Cadence Reports Third Quarter 2012 Financial Results
Cadence Design Systems, Inc. today announced results for the third quarter of fiscal year 2012.
Cadence reported third quarter 2012 revenue of $339 million, compared to revenue of $292 million reported for the same period in 2011. On a GAAP basis, Cadence recognized net income of $59 million, or $0.21 per share on a diluted basis, including $15 million in acquisition-related income tax benefit, in the third quarter of 2012, compared to net income of $28 million, or $0.10 per share on a diluted basis in the same period in 2011.
Using Cadence’s non-GAAP measure, net income in the third quarter of 2012 was $59 million, or $0.21 per share on a diluted basis, as compared to net income of $37 million, or $0.14 per share on a diluted basis, in the same period in 2011.
“Demand for our technology was strong across the board in Q3, with ongoing strength in emulation and increasing demand for verification solutions,” said Lip-Bu Tan, president and chief executive officer. “We continue to extend our technology leadership at advanced nodes and expand our design and verification IP business.”
“Results for all key operating metrics exceeded expectations for Q3 as the entire Cadence team continues to execute,” added Geoff Ribar, senior vice president and chief financial officer.
To view Q3 2012 Financial Schedules, visit: http://www.cadence.com/rl/Resources/financial_reports/3Q12_Earnings_Tables-rhfod79349.pdf
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