Cadence Design Systems Q1 adjusted earnings Beat Estimates

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

The company's bottom line came in at $120.56 million, or $0.43 per share. This compares with $72.89 million, or $0.26 per share, in last year's first quarter.

Excluding items, Cadence Design Systems reported adjusted earnings of $152.24 million or $0.54 per share for the period.

Analysts had expected the company to earn $0.49 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.5% to $576.74 million from $517.31 million last year.

Cadence Design Systems earnings at a glance:

-Earnings (Q1): $152.24 Mln. vs. $113.21 Mln. last year. -EPS (Q1): $0.54 vs. $0.40 last year. -Analysts Estimate: $0.49 -Revenue (Q1): $576.74 Mln vs. $517.31 Mln last year.