SAN JOSE, CA – Cadence Design Systems reported revenue from PCB and related design software was $46.7 million in the second quarter, versus $47.9 million a year ago.

Sales of the System and Interconnect Analysis group made up 9% of the software company's overall revenues for the period, versus 10% a year ago.

Overall second quarter revenue was $518.4 million, up 8.2% compared to the same period last year. For the quarter ended June 30, GAAP net income was $75.1 million, an increase of 8.7% year-over-year. Operating income was $93.1 million, up 12.5%.

“Multiple technology waves, especially machine learning, are driving increased design activity, and our system design enablement strategy is perfectly positioned to benefit from these across multiple verticals,” said CEO Lip-Bu Tan. “We had notable wins in Aerospace & Defense and introduced Cadence Cloud, the industry’s first broad cloud portfolio for the development of electronic systems and semiconductors.”

“Consistent execution delivered good results for Cadence again this quarter. We continue to lead with innovation, making Cadence products increasingly mission-critical to our customers, while our efforts to continually improve operational efficiency result in increased profitability flowing through to free cash flow,” said John Wall, senior vice president and CFO.

For the first six months of 2018, Cadence posted revenue of more than $1 billion, an increase of 8.3% year-over-year. Net income was $148 million, up 7.8%, and operating income was $179 million, up 10.2%.

For the third quarter, the company expects total revenue in the range of $510 million to $520 million. For 2018, the company expects total revenue in the range of $2.07 billion to $2.09 billion.

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