SAN JOSE, CA – Cadence Design Systems reported second quarter revenues of $580.4 million, up 11.9% year-over-year.
Product & Maintenance revenues (94.4% of total revenues) were $548 million, an increase of 12.3% year-over-year. Services revenues (5.6%) were $32.4 million, up 6.1%.
Americas, China, Other Asia, Europe, Middle East and Africa (EMEA) and Japan contributed 42%, 12%, 19%, 20% and 7% to total revenues, respectively.
Functional verification, digital IC and signoff, custom IC design and simulation, systems interconnect and analysis, and IP comprised 22%, 31%, 26%, 10% and 11% of total revenues, respectively.
The company ended the second quarter with cash and cash equivalents of approximately $633.4 million, compared with the previous quarter’s figure of $538.9 million.
Cadence’s long-term debt at quarter’s end was $345.7 million, flat sequentially.
The company generated operating cash flow of $246 million during the period, compared with $185.4 million in the first quarter.
For the third quarter, Cadence expects total revenues in the range of $570 million to $580 million. For fiscal 2019, revenues are now projected in the range of $2.315 to $2.335 billion.