Cadence Design Systems Q2 adjusted earnings Beat Estimates

(RTTNews) - Cadence Design Systems (CDNS) released earnings for its second quarter that climbed from last year.

The company's bottom line came in at $155.90 million, or $0.56 per share. This compares with $131.29 million, or $0.47 per share, in last year's second quarter.

Excluding items, Cadence Design Systems reported adjusted earnings of $238.29 million or $0.86 per share for the period.

Analysts had expected the company to earn $0.76 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.1% to $728.29 million from $638.42 million last year.

Cadence Design Systems earnings at a glance:

-Earnings (Q2): $238.29 Mln. vs. $184.61 Mln. last year. -EPS (Q2): $0.86 vs. $0.66 last year. -Analysts Estimate: $0.76 -Revenue (Q2): $728.29 Mln vs. $638.42 Mln last year.

-Guidance: Next quarter EPS guidance: $0.74 to $0.76 Next quarter revenue guidance: $730 to $750 Mln Full year EPS guidance: $3.14 to $3.20 Full year revenue guidance: $2.925 to $2.965 Bln