Cadence Reports First Quarter 2016 Financial Results

 

Cadence Design Systems, Inc.

Condensed Consolidated Income Statements

For the Three Months Ended April 2, 2016 and April 4, 2015

(In thousands, except per share amounts)

(Unaudited)



















Three Months Ended





April 2, 2016


April 4, 2015








Revenue:





Product and maintenance

$        411,744


$        383,637


Services

36,118


27,729










Total revenue

447,862


411,366








Costs and expenses:





Cost of product and maintenance

44,181


42,059


Cost of services

17,873


18,526


Marketing and sales

99,200


100,268


Research and development

179,906


162,996


General and administrative

28,300


27,642


Amortization of acquired intangibles

5,780


6,231


Restructuring and other charges 

14,586


4,359










Total costs and expenses

389,826


362,081











Income from operations

58,036


49,285









Interest expense

(5,357)


(11,754)


Other income, net

4,763


4,781











Income before provision for income taxes

57,442


42,312









Provision for income taxes

6,880


6,053











Net income 

$          50,562


$          36,259















Net income per share - basic

$              0.17


$              0.13








Net income per share - diluted

$              0.17


$              0.12








Weighted average common shares outstanding - basic

296,615


284,523








Weighted average common shares outstanding - diluted

303,434


311,847


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