Cadence Design Systems Q2 adjusted earnings Beat Estimates

(RTTNews) - Cadence Design Systems (CDNS) announced a profit for its second quarter that climbed from last year.

The company's profit came in at $107.24 million, or $0.38 per share. This compares with $75.15 million, or $0.27 per share, in last year's second quarter.

Excluding items, Cadence Design Systems reported adjusted earnings of $161.10 million or $0.57 per share for the period.

Analysts had expected the company to earn $0.53 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.0% to $580.42 million from $518.39 million last year.

Cadence Design Systems earnings at a glance:

-Earnings (Q2): $161.10 Mln. vs. $126.22 Mln. last year. -EPS (Q2): $0.57 vs. $0.45 last year. -Analysts Estimate: $0.53 -Revenue (Q2): $580.42 Mln vs. $518.39 Mln last year.

-Guidance: Next quarter EPS guidance: $0.50 to $0.52 Full year EPS guidance: $2.11 to $2.17