Cadence Reports First Quarter 2015 Financial Results

 

Cadence Design Systems, Inc.

Condensed Consolidated Income Statements

For the Three Months Ended April 4, 2015 and March 29, 2014

(In thousands, except per share amounts)

(Unaudited)

























Three Months Ended







April 4,

2015


March 29,

2014










Revenue:







Product and maintenance


$        383,637


$             357,350


Services



27,729


21,200












Total revenue



411,366


378,550










Costs and expenses:







Cost of product and maintenance

42,059


42,197


Cost of services



18,526


14,902


Marketing and sales


100,268


98,323


Research and development


162,996


146,466


General and administrative


27,642


28,744


Amortization of acquired intangibles

6,231


5,210


Restructuring and other charges 

4,359


396












Total costs and expenses


362,081


336,238













Income from operations

49,285


42,312











Interest expense



(11,754)


(7,268)


Other income, net


4,781


3,382













Income before provision for income taxes

42,312


38,426











Provision for income taxes


6,053


5,356













Net income 


$          36,259


$               33,070



















Net income per share - basic


$              0.13


$                   0.12










Net income per share - diluted


$              0.12


$                   0.11










Weighted average common shares outstanding - basic

284,523


281,615










Weighted average common shares outstanding - diluted

311,847


301,034


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