SAN JOSE, CA – Cadence Design Systems Inc. reported second-quarter revenue fell 32% from last year to $210 million.
 
Net loss was $74.7 million, compared to $18.8 million last year. Cadence incurred $18.5 million in restructuring and other charges during the quarter.
 
Despite the lackluster quarter, the company remains confident going forward. “Our second-quarter results demonstrate that we are reducing costs, improving profitability and positioning the company for long-term growth with excellent progress on our transition to the 90/10 model,” says Kevin Palatnik, senior vice president and CFO.
 
Third-quarter revenue is forecast between $210 million and $220 million, with full-year revenue in the $830 million to $870 million range.
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