SAN JOSE, CA – Cadence Design Systems Inc. reported first-quarter revenue fell 24% from last year to $206 million, slightly above the expected $204.6 million.
 
For the quarter, non-GAAP net loss, excluding charges, was $25 million, compared to $200,000 last year.

The company expects second-quarter revenue of $205 million to $215 million, and full-year revenue of $830 million to $870 million. It will continue to focus on improving productivity and investing in its core business during the year.
 
“We continued to progress toward our goal of a 90/10 model, with a ratable mix above 85% in the first quarter,” says Kevin S. Palatnik, senior vice president and chief financial officer. “Revenue for the first quarter of 2009 met expectations, while non-GAAP net loss per share came in better than forecast.”