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Cadence Design Systems Q1 adjusted earnings Beat Estimates

Cadence Design Systems (CDNS) announced a profit for its first quarter that rose from last year.

The company's bottom line totaled $187.17 million, or $0.67 per share. This compares with $123.99 million, or $0.44 per share, in last year's first quarter.

Excluding items, Cadence Design Systems reported adjusted earnings of $231.18 million or $0.83 per share for the period.

Analysts had expected the company to earn $0.75 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 19.1% to $736.03 million from $617.96 million last year.

Cadence Design Systems earnings at a glance:

-Earnings (Q1): $231.18 Mln. vs. $166.30 Mln. last year.
-EPS (Q1): $0.83 vs. $0.60 last year.
-Analysts Estimate: $0.75
-Revenue (Q1): $736.03 Mln vs. $617.96 Mln last year.

-Guidance:
Next quarter EPS guidance: $0.74 - $0.78
Next quarter revenue guidance: $705 - $725 Mln
Full year EPS guidance: $2.99 - $3.07
Full year revenue guidance: $2.88 - $2.93 Bln

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