SAN JOSE -- Cadence Design Systems reported fourth-quarter revenue of $220 million, down 3% from a year ago.

The provider of electronic design and printed circuit board software had GAAP net income of $2 million, reversing a net loss of $1.63 billion in 2008, which included a non-cash impairment charge of $1.36 billion.

For the year, Cadence had sales of $853 million, down 18% from 2008. The net loss was $150 million, versus net loss of $1.86 billion.

On a non-GAAP basis, net income in the quarter was $15 million, compared to a net loss of $11 million last year.

"In 2009, we positioned Cadence for future growth," said Lip-Bu Tan, president and chief executive officer. "Our primary operational focus in the year was to enhance the level of research and development engagement at key accounts and open new business opportunities for the company."

Cadence guided for first quarter revenue of $210 million to $220 million and a GAAP net loss of 8 to 10 cents. For the year, the company expects total revenue of $865 million to $900 million.

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