Cadence Design Profit Tops Estimates; Lifts Lower End Of FY Earnings Guidance

(RTTNews) - Cadence Design Systems Inc. (CDNS) on Monday reported second-quarter net earnings of $58.2 million or $0.19 per share compared with $23.3 million or $0.08 per share last year.

Excluding items, adjusted earnings for the quarter were $0.27 per share compared with $0.21 per share a year ago.

Revenues for the quarter were $415.9 million compared with $378.8 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.24 per share on revenues of $416.4 million for the quarter. Analysts' estimates typically exclude special items.

For the third quarter, the company expects adjusted earnings of $0.25 to $0.27 per share on revenues of $423 million to $433 million. Analysts expect earnings of $0.26 per share on revenues of $429.8 million.

For the full year 2015, the company now expects adjusted earnings of $1.00 to $1.06 per share on revenues of $1.69 billion to $1.72 billion. Earlier it expected earnings of $0.96 to $1.06 per share on revenues of $1.68 billion to $1.72 billion.

Analysts expect earnings of $1.02 per share on revenues of $1.70 billion for 2015.