Cadence Design Systems Q3 Profit Increases, beats estimates

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.

Next quarter EPS guidance: $0.89 to $0.93
Full year EPS guidance: $4.20 to $4.24

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