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Cadence Reports Q3 Profit Surged 74% |
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Written by Administrator
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Friday, 26 October 2007 |
SAN JOSE, CA – Cadence Design Systems Inc. reported third-quarter net earnings rose 74% to $72.7 million, on a 10% spike in sales, to $400.9 million.
Non GAAP net income totaled $97.4 million, up 16% from the same period last year.
Subscription bookings fell to 50% during the quarter as some customers moved to a new licensing model, which boosted upfront revenue. Some analysts said the shift could point to slower growth ahead.
Cadence forecast fourth-quarter revenue of $465 million to $475 million.
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