WASHINGTON (dpa-AFX) - Cadence Design Systems (CDNS) revealed a profit for its fourth quarter that increased from last year and beat the Street estimates.
The company's earnings came in at $323.90 million, or $1.19 per share. This compares with $240.39 million, or $0.88 per share, in last year's fourth quarter.
Excluding items, Cadence Design Systems reported adjusted earnings of $376.21 million or $1.38 per share for the period.
Analysts on average had expected the company to earn $1.33 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 18.9% to $1.07 billion from $0.90 billion last year.
Cadence Design Systems earnings at a glance (GAAP) :
-Earnings (Q4): $323.90 Mln. vs. $240.39 Mln. last year. -EPS (Q4): $1.19 vs. $0.88 last year. -Analyst Estimate: $1.33 -Revenue (Q4): $1.07 Bln vs. $0.90 Bln last year.
-Guidance: Next quarter EPS guidance: $1.10 - $1.14 Next quarter revenue guidance: $0.99 - $1.01 Bln
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