Cadence Design Systems Q4 adjusted earnings Beat Estimates

(RTTNews) - Cadence Design Systems (CDNS) announced a profit for its fourth quarter that climbed from last year.

The company's profit came in at $659.67 million, or $2.36 per share. This compares with $98.43 million, or $0.35 per share, in last year's fourth quarter.

Excluding items, Cadence Design Systems reported adjusted earnings of $151.56 million or $0.54 per share for the period.

Analysts had expected the company to earn $0.53 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.2% to $599.55 million from $569.85 million last year.

Cadence Design Systems earnings at a glance:

-Earnings (Q4): $151.56 Mln. vs. $146.73 Mln. last year. -EPS (Q4): $0.54 vs. $0.52 last year. -Analysts Estimate: $0.53 -Revenue (Q4): $599.55 Mln vs. $569.85 Mln last year.

-Guidance: Next quarter EPS guidance: $0.53 - $0.55 Next quarter revenue guidance: $610 - $620 Mln