Cadence Design Systems Q2 Profit Increases, beats estimates

(RTTNews) - Cadence Design Systems (CDNS) announced earnings for its second quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $186.92 million, or $0.68 per share. This compares with $155.90 million, or $0.56 per share, in last year's second quarter.

Excluding items, Cadence Design Systems reported adjusted earnings of $297.82 million or $1.08 per share for the period.

Analysts on average had expected the company to earn $0.96 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 17.7% to $857.52 million from $728.29 million last year.

Cadence Design Systems earnings at a glance (GAAP) :

-Earnings (Q2): $186.92 Mln. vs. $155.90 Mln. last year. -EPS (Q2): $0.68 vs. $0.56 last year. -Analyst Estimate: $0.96 -Revenue (Q2): $857.52 Mln vs. $728.29 Mln last year.

-Guidance: Next quarter EPS guidance: $0.94 to $0.98 Next quarter revenue guidance: $860 - $880 Mln Full year EPS guidance: $4.06 to $4.12 Full year revenue guidance: $3.47 - $3.51 Bln