Cadence Reports Third Quarter 2016 Financial Results

 

Cadence Design Systems, Inc.

Condensed Consolidated Income Statements

For the Three and Nine Months Ended October 1, 2016 and October 3, 2015

(In thousands, except per share amounts)

(Unaudited)



























Three Months Ended


Nine Months Ended





October 1,
2016


October 3,
2015


October 1,
2016


October 3,
2015












Revenue:









Product and maintenance

$           415,370


$           396,867


$        1,247,077


$        1,165,455


Services

30,850


36,896


100,026


95,557














Total revenue

446,220


433,763


1,347,103


1,261,012












Costs and expenses:









Cost of product and maintenance

38,740


41,206


125,881


114,980


Cost of services

17,867


24,005


54,563


62,571


Marketing and sales

96,793


101,950


297,103


298,880


Research and development

191,547


154,627


553,824


475,597


General and administrative

30,441


28,084


95,129


83,193


Amortization of acquired intangibles

3,889


5,687


14,206


18,037


Restructuring and other charges 

101


303


14,613


4,164














Total costs and expenses

379,378


355,862


1,155,319


1,057,422















Income from operations

66,842


77,901


191,784


203,590













Interest expense

(6,053)


(4,177)


(17,306)


(24,111)


Other income, net

2,836


1,839


10,441


7,967















Income before provision (benefit) for income taxes

63,625


75,563


184,919


187,446













Provision (benefit) for income taxes

(1,087)


(2,061)


20,310


15,403















Net income 

$             64,712


$             77,624


$           164,609


$           172,043























Net income per share - basic

$                  0.23


$                  0.27


$                  0.57


$                  0.60












Net income per share - diluted

$                  0.23


$                  0.25


$                  0.56


$                  0.55












Weighted average common shares outstanding - basic

280,622


284,818


288,476


284,880












Weighted average common shares outstanding - diluted

287,473


313,186


295,369


312,899


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