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Cadence Quadruples Profit |
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Written by Tracy Heffner
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Thursday, 03 February 2005 |
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SAN JOSE, Feb. 3, 2005 - Cadence Design Systems quadrupled its fourth-quarter net income on sales growth of 10%.
Cadence reported fourth-quarter net
income of $60 million on sales of $343 million. During the same quarter
last year, the company earned $15 million on sales of $311 million.
Excluding charges, Cadence earned 26
cents a share, a penny better than analysts expected. The sales target
on Wall Street was $338 million, according to Thomson First Call.
Shares of Cadence edged up 6 cents in after-hours trading; they closed the regular session at $13.55.
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