Beyond Design: High-speed Rules of Thumb
Global PCB Connections: A Technical Overview of Long-flex Printed Circuit Boards
The Shaughnessy Report: A Handy Look at Rules of Thumb
Cadence Reports Revenue Growth in Q3 2017
October 27, 2017 | Cadence Design Systems, Inc.Estimated reading time: 2 minutes
Cadence reported third quarter 2017 revenue of $485 million, compared to revenue of $446 million reported for the same period in 2016. On a GAAP basis, Cadence recognized net income of $81 million, or $0.29 per share on a diluted basis, in the third quarter of 2017, compared to net income of $65 million, or $0.23 per share on a diluted basis, for the same period in 2016.
Using the non-GAAP measure defined below, net income in the third quarter of 2017 was $98 million, or $0.35 per share on a diluted basis, as compared to net income of $85 million, or $0.30 per share on a diluted basis, for the same period in 2016.
“Broad-based proliferation and adoption of our digital and signoff, custom analog tools and IP products with consistent execution enabled Cadence to achieve excellent operating results for the third quarter,” said Lip-Bu Tan, president and chief executive officer.
“During the third quarter, we met or exceeded our key operating metrics and we are on track to deliver strong financial results for the fiscal year,” said John Wall, senior vice president and chief financial officer.
Business Outlook
For the fourth quarter of 2017, the company expects total revenue in the range of $490 million to $500 million. Fourth quarter GAAP net income per diluted share is expected to be in the range of $0.26 to $0.28. Net income per diluted share using the non-GAAP measure defined below is expected to be in the range of $0.38 to $0.40.
For 2017, the company expects total revenue in the range of $1.931 billion to $1.941 billion. On a GAAP basis, net income per diluted share for 2017 is expected to be in the range of $1.04 to $1.06. Using the non-GAAP measure defined below, net income per diluted share for 2017 is expected to be in the range of $1.39 to $1.41.
A schedule showing a reconciliation of the business outlook from GAAP net income and diluted net income per share to non-GAAP net income and diluted net income per share is included in this release.
About Cadence
Cadence enables electronic systems and semiconductor companies to create the innovative end products that are transforming the way people live, work and play. Cadence® software, hardware and semiconductor IP are used by customers to deliver products to market faster. The company’s System Design Enablement strategy helps customers develop differentiated products-from chips to boards to systems-in mobile, consumer, cloud datacenter, automotive, aerospace, IoT, industrial and other market segments. Cadence is listed as one of Fortune Magazine's 100 Best Companies to Work For. Learn more at cadence.com.
Share on:
Suggested Items
AirBorn Announces Agreement to be Acquired by Molex
11/18/2024 | PRNewswireAirBorn, a global manufacturer of high reliability electronics and components, announced it has entered into an agreement to be acquired by Molex, a leading global connectivity and electronics solutions provider.
RTX's Collins Aerospace to Provide UK Chinook Helicopters with Interoperable Avionics System
11/12/2024 | RTXCollins Aerospace, an RTX business, has received a $19 million contract from the Department of Defense to equip a fleet of new H-47 Chinooks for the UK Royal Air Force with its Common Avionics Architecture System (CAAS) avionics management suite.
Lockheed Martin Skunk Works, the Royal Netherlands Aerospace Centre (NLR) Announce Strategic Collaboration
10/21/2024 | Lockheed MartinSkunk Works®, the renowned advanced development organization within Lockheed Martin Corporation and the Royal Netherlands Aerospace Centre (NLR), a premier knowledge institute and connecting link among science, industry, and government in the Netherlands, announced a strategic collaboration to advance mutual interests for enhanced security at the Netherlands Defense Industry Days event.
Altair Drives Aerospace Innovation at Motivo
10/17/2024 | AltairAltair, a global leader in computational intelligence, is proud to announce its collaboration with Motivo, a product engineering firm focused on translating forward-thinking visions into best-in-class products for clients in the mobility, energy, agriculture technology, and aerospace sectors. Motivo utilizes Altair’s unique combination of engineering consulting and software to drive innovation for organizations in the aerospace industry.
Airbus, Toshiba to Partner on Superconductivity Research
10/16/2024 | AirbusAirbus UpNext, a wholly-owned subsidiary of Airbus, and Toshiba Energy Systems & Solutions Corporation (Toshiba), Toshiba Group’s energy arm, will cooperate and mutualise experience on superconducting technologies for future hydrogen-powered aircraft.