Cadence Reports First Quarter 2017 Financial Results

 

Cadence Design Systems, Inc.

Condensed Consolidated Income Statements

For the Three Months Ended April 1, 2017 and April 2, 2016

(In thousands, except per share amounts)

(Unaudited)

























Three Months Ended







April 1, 2017


April 2, 2016










Revenue:








Product and maintenance


$               451,407


$               411,744


Services



25,504


36,118












Total revenue



476,911


447,862










Costs and expenses:







Cost of product and maintenance

43,717


44,181


Cost of services



18,075


17,873


Marketing and sales


103,347


99,200


Research and development


198,286


179,906


General and administrative


31,816


28,300


Amortization of acquired intangibles

3,856


5,780


Restructuring and other charges (credits)

(1,788)


14,586












Total costs and expenses


397,309


389,826













Income from operations

79,602


58,036











Interest expense



(6,479)


(5,357)


Other income, net



1,059


4,763













Income before provision for income taxes

74,182


57,442











Provision for income taxes


5,923


6,880













Net income 


$                 68,259


$                 50,562



















Net income per share - basic


$                     0.25


$                     0.17










Net income per share - diluted


$                     0.25


$                     0.17










Weighted average common shares outstanding - basic

270,173


296,615










Weighted average common shares outstanding - diluted

277,736


303,434











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