Cadence Design Systems Issues Business Outlook - Quick Facts

(RTTNews) - Cadence Design Systems, Inc. (CDNS) announced, for 2017, the company expects total revenue in the range of $1.900 billion to $1.950 billion. On a GAAP basis, net income per share for 2017 is expected to be in the range of $0.89 to $0.99. Non-GAAP net income per share for 2017 is expected to be in the range of $1.32 to $1.42.

For the first quarter of 2017, Cadence Design Systems expects total revenue in the range of $470 million to $480 million. First quarter GAAP net income per share is expected to be in the range of $0.19 to $0.21. Net income per share using the non-GAAP measure is expected to be in the range of $0.30 to $0.32.

Cadence reported fourth quarter revenue of $469 million, compared to revenue of $441 million reported for the same period in 2015. On a GAAP basis, Cadence recognized net income of $38 million, or $0.14 per share compared to net income of $80 million, or $0.26 per share, for the same period in 2015. Using the non-GAAP measure, net income in the fourth quarter of 2016 was $95 million, or $0.34 per share compared to net income of $95 million, or $0.31 per share for the same period in 2015.