Cadence Reports Second Quarter 2016 Financial Results

 

Cadence Design Systems, Inc.

Condensed Consolidated Income Statements

For the Three and Six Months Ended July 2, 2016 and July 4, 2015

(In thousands, except per share amounts)

(Unaudited)



























Three Months Ended


Six Months Ended





July 2, 2016


July 4, 2015


July 2, 2016


July 4, 2015












Revenue:









Product and maintenance

$           419,963


$           384,951


$           831,707


$           768,588


Services

33,058


30,932


69,176


58,661














Total revenue

453,021


415,883


900,883


827,249












Costs and expenses:









Cost of product and maintenance

42,960


31,715


87,141


73,774


Cost of services

18,823


20,040


36,696


38,566


Marketing and sales

101,110


96,662


200,310


196,930


Research and development

182,371


157,974


362,277


320,970


General and administrative

36,388


27,467


64,688


55,109


Amortization of acquired intangibles

4,537


6,119


10,317


12,350


Restructuring and other charges (credits)

(74)


(498)


14,512


3,861














Total costs and expenses

386,115


339,479


775,941


701,560















Income from operations

66,906


76,404


124,942


125,689













Interest expense

(5,896)


(8,180)


(11,253)


(19,934)


Other income, net

2,842


1,347


7,605


6,128















Income before provision for income taxes

63,852


69,571


121,294


111,883













Provision for income taxes

14,517


11,411


21,397


17,464















Net income 

$             49,335


$             58,160


$             99,897


$             94,419























Net income per share - basic

$                 0.17


$                 0.20


$                 0.34


$                 0.33












Net income per share - diluted

$                 0.17


$                 0.19


$                 0.33


$                 0.30












Weighted average common shares outstanding - basic

288,191


285,297


292,403


284,910












Weighted average common shares outstanding - diluted

295,201


313,665


299,318


312,756


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