Cadence Design Systems Q4 Profit Increases, beats estimates

(RTTNews) - Cadence Design Systems (CDNS) announced a profit for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $240.4 million, or $0.88 per share. This compares with $176.6 million, or $0.63 per share, in last year's fourth quarter.

Excluding items, Cadence Design Systems reported adjusted earnings of $261.8 million or $0.96 per share for the period.

Analysts on average had expected the company to earn $0.92 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.4% to $899.9 million from $773.0 million last year.

Cadence Design Systems earnings at a glance (GAAP) :

-Earnings (Q4): $240.4 Mln. vs. $176.6 Mln. last year. -EPS (Q4): $0.88 vs. $0.63 last year. -Analyst Estimate: $0.92 -Revenue (Q4): $899.9 Mln vs. $773.0 Mln last year.

-Guidance: Next quarter EPS guidance: $1.23-$1.27 Next quarter revenue guidance: $1.00-$1.02 bln