Cadence Design Systems Inc. (CDNS) posted second quarter net income of $49 million or $0.19 per share, compared to a net loss of $74 million or $0.29 per share in the prior year quarter.
Non-GAAP net income in the second quarter was $18 million or $0.07 per share, compared to a net loss of $13 million or $0.05 per share in the year-ago period.
On average, six analysts polled by Thomson Reuters expected the company to report earnings of $0.03 per share for the period. Analysts' estimate typically exclude special items.
Revenue for the quarter was $227 million, compared to $210 million in the same period last year. Five Wall Street analysts expected revenues of $220.94 million.
Looking forward, for the third quarter of 2010, the company expects total revenue in the range of $225 million to $235 million. Third quarter GAAP net loss per share is expected to be in the range of $0.08 to $0.06. Net income per share using the non-GAAP measure is expected to be in the range of $0.01 to $0.03.
Street analysts expect earnings of $0.05 per share on revenues of $225.52 million.
Further ahead, for the full year 2010, the company expects total revenue in the range of $900 million to $925 million. On a GAAP basis, results are expected in the range of a loss of $0.01 to earnings of $0.03. Non-GAAP net income per share is expected to be in the range of $0.12 to $0.16.
Previously, the company expected a net loss in the range of 0.23 - $0.13 and net income on a non-GAAP basis of $0.05 to $0.15. Total revenue was forecast in the range of $865 million to $900 million.
Street analysts expect earnings of $0.15 per share on revenues of $897.13 million for the year.
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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.