Cadence Reports Q2 Revenue of $329 Million

Cadence's management believes that non-GAAP net income provides useful supplemental information to Cadence's management and investors regarding the performance of the company's business operations and facilitates comparisons to the company's historical operating results. Cadence's management also uses this information internally for forecasting and budgeting. Non-GAAP financial measures should not be considered as a substitute for or superior to measures of financial performance prepared in accordance with GAAP. Investors and potential investors are encouraged to review the reconciliation of non-GAAP financial measures contained within this press release with their most directly comparable GAAP financial results.

The following tables reconcile the specific items excluded from GAAP net income in the calculation of non-GAAP net income for the periods shown below:

Net Income Reconciliation                            Quarters Ended
                                              ----------------------------
                                              June 28, 2008  June 30, 2007
                                              -------------  -------------
                                                      (unaudited)
(in thousands)
Net income on a GAAP basis                    $       4,996  $      59,596
  Amortization of acquired intangibles               11,630         10,858
  Stock-based compensation expense                   21,454         27,027
  Non-qualified deferred compensation
   expenses (credits)                                (3,050)           994
  Restructuring and other charges (credits)            (355)        (1,573)
  Integration and acquisition-related costs             256            331
  Equity in losses from investments, gains
   and losses on non-qualified deferred
   compensation plan assets - recorded in
   Other income (expense), net                        6,676            750
  Income tax effect of non-GAAP adjustments          (3,595)        (6,775)
                                              -------------  -------------
Net income on a non-GAAP basis                $      38,012  $      91,208
                                              =============  =============



Diluted Net Income per Share Reconciliation          Quarters Ended
                                              ----------------------------
                                              June 28, 2008  June 30, 2007
                                              -------------  -------------
                                                      (unaudited)
(in thousands, except per share data)
Diluted net income per share on a GAAP basis  $        0.02  $        0.20
  Amortization of acquired intangibles                 0.04           0.04
  Stock-based compensation expense                     0.08           0.09
  Non-qualified deferred compensation
   expenses (credits)                                 (0.01)             -
  Restructuring and other charges (credits)               -          (0.01)
  Integration and acquisition-related costs               -              -
  Equity in losses from investments, gains
   and losses on non-qualified deferred
   compensation plan assets - recorded in
   Other income (expense), net                         0.02              -
  Income tax effect of non-GAAP adjustments           (0.01)         (0.02)
                                              -------------  -------------
Diluted net income per share on a non-GAAP
 basis                                        $        0.14  $        0.30
                                              =============  =============
Shares used in calculation of diluted net
 income per share - GAAP                               269,060                302,746
Shares  used  in  calculation  of  diluted  net
  income  per  share  -  non-GAAP  (A)                                        269,060                302,746

(A)  Shares  used  in  the  calculation  of  GAAP  net  income  or  net  loss  per
        share  are  expected  to  be  the  same  as  shares  used  in  the  calculation  of
        non-GAAP  net  income  per  share,  except  when  the  company  reports  a  GAAP
        net  loss  and  non-GAAP  net  income,  or  GAAP  net  income  and  a  non-GAAP
        net  loss.
 

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