CIMdata PLM Industry Summary Online Archive
24 July 2013
Financial News
Cadence Reports Second Quarter 2013 Financial Results
Cadence Design Systems, Inc. announced results for the second quarter of fiscal year 2013.
Cadence reported second quarter 2013 revenue of $362 million, compared to revenue of $326 million reported for the same period in 2012. On a GAAP basis, Cadence recognized net income of $9 million, or $0.03 per share on a diluted basis, in the second quarter of 2013, compared to net income of $36 million, or $0.13 per share on a diluted basis, in the same period in 2012.
Using the non-GAAP measure defined below, net income in the second quarter of 2013 was $61 million, or $0.21 per share on a diluted basis, as compared to net income of $53 million, or $0.19 per share on a diluted basis, in the same period in 2012.
“Cadence announced two new products, the Tempus Timing Signoff Solution, a significant advancement in static timing analysis and closure, and Virtuoso for Electrically Aware Design, a groundbreaking new approach to improve automation for custom/analog design, both of which demonstrate the strength of our innovation engine,” said Lip-Bu Tan, president and chief executive officer. He continued, “With the acquisitions of Tensilica, Cosmic Circuits and the IP business of Evatronix, we now have the critical mass needed to fulfill a broad spectrum of our customers' IP requirements."
“Integration of our recent acquisitions is going smoothly as we continue to execute and generate solid financial performance,” added Geoff Ribar, senior vice president and chief financial officer.
To view an unabridged version of this press release, visit: http://www.cadence.com/cadence/newsroom/press_releases/pages/pr.aspx?xml=072413_financial
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