Cadence Design Systems Q4 adjusted earnings Beat Estimates

Cadence Design Systems (CDNS) released earnings for fourth quarter that declined from last year.

The company's profit totaled $173.74 million, or $0.62 per share. This compares with $659.68 million, or $2.36 per share, in last year's fourth quarter.

Excluding items, Cadence Design Systems reported adjusted earnings of $234 million or $0.83 per share for the period.

Analysts had expected the company to earn $0.74 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 26.7% to $759.91 million from $599.56 million last year.

Cadence Design Systems earnings at a glance:

-Earnings (Q4): $234 Mln. vs. $152 Mln. last year.
-EPS (Q4): $0.83 vs. $0.54 last year.
-Analysts Estimate: $0.74
-Revenue (Q4): $759.91 Mln vs. $599.56 Mln last year.

Next quarter EPS guidance: $0.72 to $0.76

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