Cadence Design Systems (CDNS) reported earnings for its third quarter that increased from last year and beat the Street estimates.
The company's earnings totaled $186.31 million, or $0.68 per share. This compares with $176.31 million, or $0.63 per share, in last year's third quarter.
Excluding items, Cadence Design Systems reported adjusted earnings of $290.09 million or $1.06 per share for the period.
Analysts on average had expected the company to earn $0.97 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 20.2% to $902.55 million from $750.90 million last year.
Cadence Design Systems earnings at a glance (GAAP) :
-Earnings (Q3): $186.31 Mln. vs. $176.31 Mln. last year.
-EPS (Q3): $0.68 vs. $0.63 last year.
-Analyst Estimate: $0.97
-Revenue (Q3): $902.55 Mln vs. $750.90 Mln last year.
-Guidance:
Next quarter EPS guidance: $0.89 to $0.93
Full year EPS guidance: $4.20 to $4.24
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