SAN JOSE, CA – Cadence Design Systems Inc. announced fourth-quarter revenues fell a staggering 102% from last year to $227 million. Revenue for the year was reported at $1.04 billion, down 36% from $1.62 billion. 

The GAAP net loss for the quarter was $1.64 billion. Year-over-year, the GAAP net loss was $1.85 billion, compared to a net income of $296 million in 2007. Quarter and fiscal year losses include a $1.36 billion non-cash impairment charge propelled by the faltering economy and a decline in the company’s market capitalization.  
 
“We made very good progress in the fourth quarter toward our goal of a stable 90/10 ratable model with over 85% of orders booked under ratable licenses,” said Kevin Palatnik, senior vice president and CEO.
 
First-quarter revenues are forecasted between $200 million and $210 million, with fiscal year revenue at $830 million to $870 million. GAAP losses for the quarter are expected to fall within $0.31 to $0.33 per share, and losses at $0.87 to $0.99 per share for the year.
 
 
 
 
 
 
 
 

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