SAN JOSE – Cadence Design Systems reported second-quarter revenue of $283 million, up nearly 25% year-over-year.
Net income was $27 million, down 45% compared to the same period last year. Net income for the quarter included $67 million in acquisition-related tax benefits.

On a conference call with analysts, president and CEO Lip-Bu Tan said the coming quarters look healthy. "From the feedback from our customers, design activity still remains strong. Clearly, we see smartphone, tablets, server, area of strengths. PC, networking and some of the industrial and selective part of the automotive has been weakened. But overall, I think it's a very healthy, we see in terms of the design activity and our engagement with our customers continue to be strong."

For the third quarter, the company expects total revenue between $280 million and $290 million.

For full-year 2011, Cadence expects total revenue between $1.12 billion and $1.14 billion.

On the same call, CFO Geoff Ribar said the EDA company expects 2011 bookings to top those of 2010, and 2012 bookings to rise further.

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