Wednesday, Cadence Design Systems Inc. (CDNS) reported fourth-quarter net income of $2 million or $0.01 per share, compared to a loss of $1.63 billion or $6.55 per share in the same quarter last year. The prior year results included a non-cash impairment charge of $1.36 billion, related to Cadence's goodwill, intangible assets, and fixed assets.
On a non-GAAP basis, net income was $15 million or $0.06 per share, compared to a loss of $11 million or $0.04 per share in the prior year quarter.
On average, six analysts polled by Thomson Reuters expected the company to earn $0.03 per share for the quarter. Analysts' estimates typically exclude special items.
Revenue for the quarter was $220 million, down from $227 million in the comparable quarter last year. Analysts expected the company to report revenue of $220.68 million for the quarter.
Looking ahead to the first quarter, the company expects total revenue in the range of $210 million - $220 million with net loss in the range of $0.10 - $0.08 per share. On a non-GAAP basis, net income is expected to be in the range of $0.00 - $0.02 per share. Analysts currently anticipate the company to earn breakeven per share on revenue of $213.92 million for the quarter.
For the full year 2010, the company expects total revenue in the range of $865 million - $900 million with a net loss in the range of $0.29 - $0.19 per share. On a non-GAAP basis, net income is expected to be in the range of $0.05 - $0.15 per share. Analysts currently anticipate the company to earn $0.11 per share on revenue of $900.58 million for the quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.