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Cadence Reports Q1 Revenue of $287 Million |
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Written by Philip Buonpastore
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Wednesday, 23 April 2008 |
SAN JOSE, CA - Cadence Design Systems has reported first quarter 2008 revenue of $287 million, down 21.4% from the $365 million reported for the same period in 2007.
On a GAAP basis, Cadence recognized a net loss of $19 million in the first quarter of 2008, compared to net income of $44 million for the same period in 2007.
"First quarter results met our expectations and we'll continue to focus on improving our operating performance throughout the year," said Bill Porter, executive VP and CEO.
The company has reported that it expects revenue to increase to $310 million to $320 million for the second quarter of 2008, and $1.490 billion to $1.540 billion for the full year.
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