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Platforms Push Up Cadence's Q1 Sales
Written by Mike Buetow
Monday, 26 April 2004
SAN JOSE, April 21 -- Cadence Design Systems reported first-quarter revenue of $266 million, up 1% over last year.
For the quarter the GAAP net loss improved to $9 million, from a net
loss of $13 million last year. Non-GAAP net income was $28 million, up
from $12 million.
Cadence, which has pushed a platform approach, said 70% of its
verification sales came from its Incisive platform for SoCs, introduced
last year, up from 50% sequentially.
"We are gaining widespread customer support for our best-of-breed
technologies, integrating them into platforms, and validating them
through open collaboration," said Ray Bingham, Cadence president and
chief executive.
Cadence, the second largest supplier of EDA and PCB tools, guided
for second-quarter revenue of $285 million to $295 million and GAAP
earnings of three to five cents. For the year, the company expects
revenue of $1.18 billion to $1.23 billion.
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