Cadence Design Systems Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Cadence Design Systems (CDNS) released a profit for third quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $238.11 million, or $0.87 per share. This compares with $254.32 million, or $0.93 per share, in last year's third quarter.

Excluding items, Cadence Design Systems reported adjusted earnings of $450.20 million or $1.64 per share for the period.

Analysts on average had expected the company to earn $1.44 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 18.8% to $1.215 billion from $1.023 billion last year.

Cadence Design Systems earnings at a glance (GAAP) :

-Earnings (Q3): $238.11 Mln. vs. $254.32 Mln. last year. -EPS (Q3): $0.87 vs. $0.93 last year. -Revenue (Q3): $1.215 Bln vs. $1.023 Bln last year.

-Guidance: Next quarter EPS guidance: $1.78 to $1.84 Full year EPS guidance: $5.87 - $5.93 Full year revenue guidance: $4.61 - $4.65 Bln