Cadence Reports Second Quarter 2015 Financial Results

 

Cadence Design Systems, Inc.

Condensed Consolidated Income Statements

For the Three and Six Months Ended July 4, 2015 and June 28, 2014

(In thousands, except per share amounts)

(Unaudited)






























Three Months Ended


Six Months Ended






July 4, 2015


June 28, 2014


July 4, 2015


June 28, 2014













Revenue:










Product and maintenance


$        384,951


$            354,468


$        768,588


$            711,818


Services


30,932


24,320


58,661


45,520















Total revenue


415,883


378,788


827,249


757,338













Costs and expenses:










Cost of product and maintenance


31,715


37,707


73,774


79,904


Cost of services


20,040


16,706


38,566


31,608


Marketing and sales


96,662


98,611


196,930


196,934


Research and development


157,974


152,672


320,970


299,138


General and administrative


27,467


32,042


55,109


60,786


Amortization of acquired intangibles


6,119


5,579


12,350


10,789


Restructuring and other charges (credits)


(498)


(26)


3,861


370















Total costs and expenses


339,479


343,291


701,560


679,529
















Income from operations


76,404


35,497


125,689


77,809














Interest expense


(8,180)


(7,369)


(19,934)


(14,637)


Other income, net


1,347


1,635


6,128


5,017
















Income before provision for income taxes


69,571


29,763


111,883


68,189














Provision for income taxes


11,411


6,500


17,464


11,856
















Net income 


$          58,160


$              23,263


$          94,419


$              56,333

























Net income per share - basic


$              0.20


$                  0.08


$              0.33


$                  0.20













Net income per share - diluted


$              0.19


$                  0.08


$              0.30


$                  0.19













Weighted average common shares outstanding - basic


285,297


283,344


284,910


282,480













Weighted average common shares outstanding - diluted


313,665


305,755


312,756


303,395


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