Cadence Reports Second Quarter 2015 Financial Results

 

Diluted Net Income per Share Reconciliation


Three Months Ended



July 4, 2015


June 28, 2014



(unaudited)

(in thousands, except per share data)





Diluted net income per share on a GAAP basis


$

0.19


$

0.08

Amortization of acquired intangibles


0.05


0.05

Stock-based compensation expense


0.07


0.06

Non-qualified deferred compensation expenses



Restructuring and other charges (credits)



Acquisition and integration-related costs



0.03

Special charges*



0.03

Amortization of debt discount on convertible notes


0.01


0.01

Other income or expense related to investments and non-qualified deferred compensation plan assets**



Income tax effect of non-GAAP adjustments


(0.05)


(0.05)

Diluted net income per share on a non-GAAP basis


$

0.27


$

0.21

Shares used in calculation of diluted net income per share — GAAP***


313,665


305,755

Shares used in calculation of diluted net income per share — non-GAAP***


313,665


305,755



*

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.



***

Shares used in the calculation of GAAP net income per share are expected to be the same as shares used in the calculation of non-GAAP net income per share, except when the company reports a GAAP net loss and non-GAAP net income, or GAAP net income and a non-GAAP net loss.

Cadence expects that its corporate representatives will meet privately during the quarter with investors, the media, investment analysts and others.  At these meetings, Cadence may reiterate the business outlook published in this press release.  At the same time, Cadence will keep this press release, including the business outlook, publicly available on its website.

Prior to the start of the Quiet Period (described below), the public may continue to rely on the business outlook contained herein as still being Cadence's current expectations on matters covered unless Cadence publishes a notice stating otherwise.

Beginning September 18, 2015, Cadence will observe a Quiet Period during which the business outlook as provided in this press release and the most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q no longer constitute the company's current expectations.  During the Quiet Period, the business outlook in these documents should be considered historical, speaking as of prior to the Quiet Period only and not subject to any update by the company.  During the Quiet Period, Cadence's representatives will not comment on Cadence's business outlook, financial results or expectations.  The Quiet Period will extend until the day when Cadence's third quarter 2015 earnings release is published, which is currently scheduled for October 26, 2015 .

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