-
-
News
News Highlights
- Books
Featured Books
- design007 Magazine
Latest Issues
Current IssueLearning to Speak ‘Fab’
Our expert contributors clear up many of the miscommunication problems between PCB designers and their fab and assembly stakeholders. As you will see, a little extra planning early in the design cycle can go a long way toward maintaining open lines of communication with the fab and assembly folks.
Training New Designers
Where will we find the next generation of PCB designers and design engineers? Once we locate them, how will we train and educate them? What will PCB designers of the future need to master to deal with tomorrow’s technology?
The Designer of the Future
Our expert contributors peer into their crystal balls and offer their thoughts on the designers and design engineers of tomorrow, and what their jobs will look like.
- Articles
- Columns
Search Console
- Links
- Media kit
||| MENU - design007 Magazine
Cadence Reports Q1 2023 Financial Results
April 25, 2023 | Cadence Design Systems, Inc.Estimated reading time: 2 minutes

Cadence reported first quarter 2023 revenue of $1.022 billion, compared to revenue of $902 million for the same period in 2022. On a GAAP basis, Cadence achieved operating margin of 32 percent and recognized net income of $242 million, or $0.89 per share on a diluted basis, in the first quarter of 2023, compared to operating margin of 35 percent and net income of $235 million, or $0.85 per share on a diluted basis, for the same period in 2022.
Using the non-GAAP measures defined below, operating margin for the first quarter of 2023 was 42 percent and net income was $351 million, or $1.29 per share on a diluted basis, compared to operating margin of 44 percent and net income of $324 million, or $1.17 per share on a diluted basis, for the same period in 2022.
“Cadence delivered strong results for the first quarter driven by our consistent execution and continued momentum in the core EDA and System Design & Analysis businesses,” said Anirudh Devgan, president and chief executive officer. “With the recent introductions of Virtuoso Studio and Allegro X AI, we now have an unmatched ‘chip to package to board to systems’ Generative AI portfolio underpinned by our differentiated JedAI platform and delivering unprecedented quality of results and productivity benefits.”
“I am pleased to report that we exceeded all of our key operating metrics for the quarter,” said John Wall, senior vice president and chief financial officer. “We had a good start to the year. With the increase in our outlook, we now expect revenue growth for 2023 at approximately 14%.”
Business Outlook
For the second quarter of 2023, the company expects total revenue in the range of $960 million to $980 million. Second quarter GAAP operating margin is expected to be in the range of 29 percent to 30 percent and GAAP net income per diluted share is expected to be in the range of $0.73 to $0.77. Using the non-GAAP measures defined below, operating margin is expected to be in the range of 40 percent to 41 percent and net income per diluted share is expected to be in the range of $1.15 to $1.19.
For fiscal year 2023, the company expects total revenue in the range of $4.03 billion to $4.07 billion. On a GAAP basis, operating margin for 2023 is expected to be in the range of 30 percent to 31 percent and GAAP net income per diluted share for 2023 is expected to be in the range of $3.26 to $3.34. Using the non-GAAP measures defined below, operating margin for 2023 is expected to be in the range of 41 percent to 42 percent and net income per diluted share for 2023 is expected to be in the range of $4.96 to $5.04.
Suggested Items
Statement from IPC, the Global Electronics Association, on Recent U.S. Tariffs and Global Trade
03/07/2025 | IPCIPC shared the following statement today on U.S. tariffs and their implications on the global electronics industry. This statement can be attributed to Dr. John W. Mitchell, IPC president and CEO:
European EMS Market Experiences Double Digit Negative Growth in 2024, But May Experience Slight Positive Growth in 2025
02/27/2025 | IPCAs revealed this week by an annual survey conducted by in4ma and sponsored by IPC, the electronics manufacturing services (EMS) industry in Europe experienced negative 14 percent growth in printed circuit board assembly (PCBA) production in 2024.
European EMS Market Experiences Double Digit Negative Growth in 2024, But May Experience Slight Positive Growth in 2025
02/26/2025 | IPCAs revealed this week by an annual survey conducted by in4ma and sponsored by IPC, the electronics manufacturing services (EMS) industry in Europe experienced negative 14 percent growth in printed circuit board assembly (PCBA) production in 2024.
Electronics Industry Demand Rises in February
02/21/2025 | IPCOrders, capacity utilization, and backlogs all increased in the past month, pushing electronics industry demand higher according to IPC’s February Sentiment of the Global Electronics Manufacturing Supply Chain Report.
Mycronic Reports Strong Fourth Quarter and Record Full-Year Results
02/06/2025 | MycronicMycronic today reported strong fourth-quarter results, with order intake increasing 64 percent to SEK 2,381 million.