Cadence Design Systems (CDNS) Tops Q1 EPS by 3c

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Go back to Cadence Design Systems (CDNS) Tops Q1 EPS by 3c

Cadence Reports First Quarter 2018 Financial Results

April 23, 2018 4:05 PM EDT

SAN JOSE, Calif.--(BUSINESS WIRE)-- Cadence Design Systems, Inc. (NASDAQ: CDNS) today reported its results under new revenue rules, ASC Topic 606, for the first time. For the first quarter of 2018, Cadence reported revenue of $517 million, GAAP net income of $73 million, or $0.26 per share on a diluted basis, and non-GAAP net income (as defined below), of $113 million, or $0.40 per share on a diluted basis.

Cadence also reported its results under the old revenue rules, ASC Topic 605, as required under the modified retrospective transition method, to allow easier comparison with prior results, all of which were... More