Cadence Design Systems Q1 adjusted earnings Beat Estimates

(RTTNews) - Cadence Design Systems (CDNS) announced earnings for its first quarter that rose from the same period last year.

The company's bottom line came in at $72.89 million, or $0.26 per share. This compares with $68.26 million, or $0.25 per share, in last year's first quarter.

Excluding items, Cadence Design Systems reported adjusted earnings of $113.21 million or $0.40 per share for the period.

Analysts had expected the company to earn $0.37 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.5% to $517.31 million from $476.91 million last year.

Cadence Design Systems earnings at a glance:

-Earnings (Q1): $113.21 Mln. vs. $89.06 Mln. last year. -EPS (Q1): $0.40 vs. $0.32 last year. -Analysts Estimate: $0.37 -Revenue (Q1): $517.31 Mln vs. $476.91 Mln last year.

-Guidance: Next quarter EPS guidance: $0.39 - $0.41 Next quarter revenue guidance: $510 - $520 Mln Full year EPS guidance: $1.57 to $1.65 Full year revenue guidance: $2.055 - $2.085 Bln