Cadence Design Systems Q3 Profit Increases, beats estimates

(RTTNews) - Cadence Design Systems (CDNS) revealed a profit for its third quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $254.32 million, or $0.93 per share. This compares with $186.31 million, or $0.68 per share, in last year's third quarter.

Excluding items, Cadence Design Systems reported adjusted earnings of $343 million or $1.26 per share for the period.

Analysts on average had expected the company to earn $1.20 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.3% to $1.02 billion from $0.90 billion last year.

Cadence Design Systems earnings at a glance (GAAP) :

-Earnings (Q3): $254.32 Mln. vs. $186.31 Mln. last year. -EPS (Q3): $0.93 vs. $0.68 last year. -Analyst Estimate: $1.20 -Revenue (Q3): $1.02 Bln vs. $0.90 Bln last year.

-Guidance: Next quarter EPS guidance: $1.30 to $1.36 Next quarter revenue guidance: $1.039 - $1.079 Bln Full year EPS guidance: $5.07 to $5.13 Full year revenue guidance: $4.06- $4.10 Bln