-
- News
- Books
Featured Books
- design007 Magazine
Latest Issues
Current IssueMechatronics
Our expert contributors discuss the advent of mechatronics in PCB design, the challenges and opportunities this creates for circuit board designers, and the benefits—to the employee and the company—of becoming a mechatronics engineer.
Creating a Culture of Collaboration
PCB designers could learn quite a bit from NASA and the private companies that develop spacecraft: Every one of these vehicles is a testament to the value of collaboration among disparate stakeholders. Without a collaborative culture, the rocket might never get off the ground.
Breaking High-speed Material Constraints
Do you need specialty materials for your high-speed designs? Maybe not. Improvements in resins mean designers of high-speed boards can sometimes use traditional laminate systems. Learn more in this issue.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - design007 Magazine
Cadence Reports Second Quarter 2019 Financial Results
July 23, 2019 | Cadence Design Systems, Inc.Estimated reading time: 2 minutes
Cadence reported second quarter 2019 revenue of $580 million, compared to revenue of $518 million reported for the same period in 2018. On a GAAP basis, Cadence achieved operating margin of 23 percent and recognized net income of $107 million, or $0.38 per share on a diluted basis, in the second quarter of 2019, compared to operating margin of 18 percent and net income of $75 million, or $0.27 per share on a diluted basis, for the same period in 2018.
Using the non-GAAP measure defined below, operating margin for the second quarter of 2019 was 34 percent and net income was $161 million, or $0.57 per share on a diluted basis, compared to operating margin of 30 percent and net income of $126 million, or $0.45 per share on a diluted basis, for the same period in 2018.
“Cadence achieved strong operating results for the second quarter of 2019, delivering 12 percent year-over-year revenue growth on broad-based strength across our product lines,” said Lip-Bu Tan, chief executive officer. “We continue to lead with innovation, introducing important new products, including the Protium™ X1 Enterprise Prototyping Platform for early software development and Spectre X, a massively parallel circuit simulator with increased speed and capacity, for analog design.”
“I am pleased with our Q2 results and outlook,” said John Wall, senior vice president and chief financial officer. “We are raising our outlook for revenue, operating margin, earnings and cash from operations for the year while we continue to invest in TAM expansion opportunities that result from our Intelligent System Design strategy.”
Business Outlook
For the third quarter of 2019, the company expects total revenue in the range of $570 million to $580 million. Third quarter GAAP operating margin is expected to be approximately 19 percent and GAAP net income per diluted share is expected to be in the range of $0.32 to $0.34. Using the non-GAAP measure defined below, operating margin is expected to be approximately 30 percent and net income per diluted share is expected to be in the range of $0.50 to $0.52.
For 2019, the company expects total revenue in the range of $2.315 billion to $2.335 billion. On a GAAP basis, operating margin is expected to be in the range of 21 percent to 22 percent and net income per diluted share for 2019 is expected to be in the range of $1.44 to $1.50. Using the non-GAAP measure defined below, operating margin for 2019 is expected to be in the range of 31 percent to 32 percent and net income per diluted share for 2019 is expected to be in the range of $2.11 to $2.17.
A schedule showing a reconciliation of the business outlook from GAAP operating margin, GAAP net income and diluted net income per share to non-GAAP operating margin and 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 Intelligent System Design 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 www.cadence.com.
Suggested Items
Altair Signs MoU With University of Nottingham to Develop Aerospace Digital Twin Project
07/25/2024 | PRNewswireAltair, a global leader in computational intelligence, has signed a memorandum of understanding (MoU) with the U.K.-based University of Nottingham for a digital twin project within the aerospace sector.
Collins Aerospace Relocating Singapore Plant to New $250M Manufacturing Facility in Seletar Aerospace Park, Singapore
07/25/2024 | Collins AerospaceCollins Aerospace, an RTX business, announced the relocation of its Singapore manufacturing facility to a new, state-of-the-art site in Seletar Aerospace Park, Singapore.
Innovative and Cost-effective BGA Re-balling
07/23/2024 | Shavi Spinzi, Nano Dimension/EssemtecA new, high-quality BGA re-balling process, which is integrated into an all-in-one solution of dispensing and placement equipment developed by Essemtec, brings new opportunities for the reapplication of expensive BGA components. This new method seamlessly integrates the sequence of flux deposition and ball (sphere) placement with the subsequent soldering process.
Vertical Aerospace Begins Testing on New VX4 Prototype
07/22/2024 | BUSINESS WIREVertical Aerospace, a global aerospace and technology company that is pioneering zero emissions aviation, announced that testing on its most advanced eVTOL aircraft, unveiled last week, has started with initial powered ground tests, including propeller balancing, successfully complete.
Aerospace Riveting Equipment Market to Surpass $160M Revenue till 2032
07/22/2024 | Global Market InsightsThe aerospace riveting equipment market will witness over 3.5% CAGR between 2024 and 2032, propelled by burgeoning partnerships among companies for distribution and expansion.