Cadence Design Systems Q4 Profit Increases, beats estimates

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

The company's earnings totaled $176.58 million, or $0.63 per share. This compares with $173.74 million, or $0.62 per share, in last year's fourth quarter.

Excluding items, Cadence Design Systems reported adjusted earnings of $227.37 million or $0.82 per share for the period.

Analysts on average 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 1.7% to $773.04 million from $759.91 million last year.

Cadence Design Systems earnings at a glance (GAAP) :

-Earnings (Q4): $176.58 Mln. vs. $173.74 Mln. last year. -EPS (Q4): $0.63 vs. $0.62 last year. -Analyst Estimate: $0.76 -Revenue (Q4): $773.04 Mln vs. $759.91 Mln last year.

-Guidance: Next quarter EPS guidance: $1.00 - $1.04 Next quarter revenue guidance: $850 - $870 Mln