29 April 2010
Cadence improves year on year Q1 revenue
Chip design software maker Cadence Design Systems has posted first quarter revenue of $222million compared to revenue of $206m reported for the same period in 2009.
In a GAAP* basis, the company realised a net loss of $12million, compared with a net loss of $63.3m a year ago.
"Cadence is off to a good start in 2010. The team executed across the board and our focus on customer engagement continues to yield success," said Lip-Bu Tan, president and chief executive officer. "Business improved in all geographies with strength in Asia and North America, and in all platform areas, especially verification, custom and digital design."
Kevin Palatnik, Cadence's senior vice president and chief financial officer, added: "We put up another consistent operating performance in the first quarter with our key operating metrics meeting or exceeding our expectations."
* Generally Accepted Accounting Principles (GAAP) is the americanised term used to refer to the standard framework of guidelines for financial accounting used in any given jurisdiction which are generally known as Accounting Standards. GAAP includes the standards, conventions, and rules accountants follow in recording and summarizing transactions, and in the preparation of financial statements.
Author
Chris Shaw
Supporting Information
Websites
http://www.cadence.com
Companies
Cadence Design Systems Ltd
This material is protected by Findlay Media copyright
See Terms
and Conditions.
One-off usage is permitted but bulk copying is not.
For multiple copies contact the
sales team.