Cadence Design Systems Q2 adjusted earnings Beat Estimates

(RTTNews) - Cadence Design Systems (CDNS) announced a profit for its second quarter that increased from the same period last year.

The company's profit came in at $75.15 million, or $0.27 per share. This compares with $69.13 million, or $0.25 per share, in last year's second quarter.

Excluding items, Cadence Design Systems reported adjusted earnings of $126.22 million or $0.45 per share for the period.

Analysts had expected the company to earn $0.40 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.2% to $518.39 million from $479.00 million last year.

Cadence Design Systems earnings at a glance:

-Earnings (Q2): $126.22 Mln. vs. $94.08 Mln. last year. -EPS (Q2): $0.45 vs. $0.34 last year. -Analysts Estimate: $0.40 -Revenue (Q2): $518.39 Mln vs. $479.00 Mln last year.

-Guidance: Next quarter EPS guidance: $0.40 - $0.42 Next quarter revenue guidance: $510 - $520 Mln Full year EPS guidance: $1.64 - $1.70 Full year revenue guidance: $2.070 - $2.090 Bln