Cadence Design Systems Profit Rises 20% In Q1

(RTTNews) - Cadence Design Systems (CDNS) announced earnings for its first quarter that rose compared to the same period last year.

The company said its bottom line totaled $85.63 million, or $0.28 per share. This was higher than $71.59 million, or $0.23 per share, in last year's first quarter.

Analysts had expected the company to earn $0.27 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 8.9% to $447.86 million. This was up from $411.37 million last year.

Cadence Design Systems earnings at a glance:

-Earnings (Q1): $85.63 Mln. vs. $71.59 Mln. last year. -Earnings Growth (Y-o-Y): 19.6% -EPS (Q1): $0.28 vs. $0.23 last year. -EPS Growth (Y-o-Y): 21.7% -Analysts Estimate: $0.27 -Revenue (Q1): $447.86 Mln vs. $411.37 Mln last year. -Revenue Change (Y-o-Y): 8.9%

-Guidance: Next quarter EPS guidance: $0.27 - $0.29 Next quarter revenue guidance: $445 - $455 Mln Full year EPS guidance: $1.15 - $1.25 Full year revenue guidance: $1.790 - $1.840 Bln