Cadence Reports Fourth Quarter and Fiscal Year 2015 Financial Results

 

Cadence Design Systems, Inc.

Condensed Consolidated Income Statements

For the Three Months and Years Ended January 2, 2016 and January 3, 2015

(In thousands, except per share amounts)

(Unaudited)



























Three Months Ended


Years Ended





January 2, 2016


January 3, 2015


January 2, 2016


January 3, 2015












Revenue:









Product and maintenance

$             413,489


$             393,223


$          1,578,944


$          1,479,151


Services

27,590


29,875


123,147


101,781














Total revenue

441,079


423,098


1,702,091


1,580,932












Costs and expenses:









Cost of product and maintenance

40,679


39,475


155,659


156,333


Cost of services

20,223


18,640


82,794


67,373


Marketing and sales

103,552


102,367


402,432


399,688


Research and development

161,970


155,124


637,567


603,006


General and administrative

26,789


26,939


109,982


113,619


Amortization of acquired intangibles

5,679


6,912


23,716


24,017


Restructuring and other charges (credits)

347


(1,145)


4,511


10,252














Total costs and expenses

359,239


348,312


1,416,661


1,374,288















Income from operations

81,840


74,786


285,430


206,644













Interest expense

(4,200)


(11,961)


(28,311)


(34,121)


Other income, net

2,510


3,879


10,477


8,479















Income before provision (benefit) for income taxes

80,150


66,704


267,596


181,002













Provision (benefit) for income taxes

(224)


1,674


15,179


22,104















Net income 

$               80,374


$               65,030


$             252,417


$             158,898























Net income per share - basic

$                   0.27


$                   0.23


$                   0.88


$                   0.56












Net income per share - diluted

$                   0.26


$                   0.21


$                   0.81


$                   0.52












Weighted average common shares outstanding - basic

297,433


283,928


288,018


283,349












Weighted average common shares outstanding - diluted

310,512


310,273


312,302


306,775


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