Fri. Nov 15th, 2019

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CDNS: Cadence Design Systems, Inc. (NASDAQ: CDNS)

2 min read

Cadence Design Systems, Inc. (NASDAQ: CDNS) recently declared results for the third quarter of 2K19.

Cadence stated third-quarter 2K19 revenue of $580M, a contrast to revenue of $532M stated for the same period in 2018. On a GAAP basis, Cadence achieved operating margin of 21% and recognized net income of $102M, or $0.36 for each share on a diluted basis, in the third quarter of 2K19, contrast to operating margin of 19% and net income of $99M, or $0.35 for each share on a diluted basis, for the same period in 2018.

Using the non-GAAP measure defined below, operating margin for the third quarter of 2K19 was 32% and net income was $153M, or $0.54 for each share on a diluted basis, contrast to operating margin of 32% and net income of $139M, or $0.49 for each share on a diluted basis, for the same period in 2018.

Business Outlook

For the 4th-quarter of 2K19, the company anticipates total revenue in the range of $590M to $600M. 4th-quarter GAAP operating margin is expected to be about 20% and GAAP net income for each diluted share is expected to be in the range of $0.33 to $0.35. Using the non-GAAP measure defined below, the operating margin is expected to be about 30% and net income for each diluted share is expected to be in the range of $0.52 to $0.54.

For 2K19, the company anticipates total revenue in the range of $2.327B to $2.337B. On a GAAP basis, operating margin is expected to be in the range of 21.3% to 21.8% and net income for each diluted share for 2K19 is expected to be in the range of $1.50 to $1.52. Using the non-GAAP measure defined below, operating margin for 2K19 is expected to be in the range of 31.5% to 32.0% and net income for each diluted share for 2K19 is expected to be in the range of $2.18 to $2.20.

 

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