Cadence Reports Second Quarter 2014 Financial Results

 



Cadence Design Systems, Inc.

As of July 21, 2014

Impact of Non-GAAP Adjustments on Forward Looking Diluted Net Income Per Share

(Unaudited)








Three Months Ending


Year Ending



September 27, 2014


January 3, 2015



Forecast


Forecast






Diluted net income per share on a GAAP basis

 $0.13 to $0.15 


 $0.48 to $0.56 







Amortization of acquired intangibles

0.05


0.20


Stock-based compensation expense

0.07


0.27


Non-qualified deferred compensation expenses

-


0.01


Acquisition and integration-related costs

0.02


0.08


Special charges*

-


0.03


Amortization of debt discount

0.01


0.06


Other income or expense related to investments and non-qualified 





    deferred compensation plan assets**

-


(0.02)


Income tax effect of non-GAAP adjustments

(0.05)


(0.21)






Diluted net income per share on a non-GAAP basis

 $0.23 to $0.25 


 $0.90 to $0.98 







 * Comprised of costs related to a voluntary retirement program 




 ** Includes, as applicable, equity in losses or income from investments, write-down of investments, gains or losses on sale of investments and gains or losses on non-qualified deferred compensation plan assets recorded in other income or expense.

 


Cadence Design Systems, Inc.

As of July 21, 2014

Impact of Non-GAAP Adjustments on Forward Looking Net Income 

(Unaudited)








Three Months Ending


Year Ending



September 27, 2014


January 3, 2015

($ in millions)

Forecast


Forecast






Net income on a GAAP basis

 $41 to $47 


 $147 to $172 







Amortization of acquired intangibles

16


60


Stock-based compensation expense

21


83


Non-qualified deferred compensation expenses

-


3


Acquisition and integration-related costs

5


25


Special charges*

-


10


Amortization of debt discount

4


18


Other income or expense related to investments and non-qualified 





    deferred compensation plan assets**

-


(5)


Income tax effect of non-GAAP adjustments

(16)


(66)






Net income on a non-GAAP basis

 $71 to $77 


 $275 to $300 







 * Comprised of costs related to a voluntary retirement program 




 ** Includes, as applicable, equity in losses or income from investments, write-down of investments, gains or losses on sale of investments and gains or losses on non-qualified deferred compensation plan assets recorded in other income or expense.


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