SAN JOSE, CA – Cadence Design Systems reported third-quarter revenue of $367 million, up 8.3% year-over-year.

On a GAAP basis, Cadence posted net income of $38.5 million, down nearly 34% compared to the same quarter in 2012.

For the period ended Sept. 30, design for manufacturing revenue made up 7% of overall sales, and system interconnect design made up 10%.

On a conference call with analysts on Oct. 23, chief executive Lip-Bu Tan said the company's printed circuit board design software business continues to do well. "Clearly, customer(s) are looking to end-to-end design. We are in a very unique position to be able to provide that end-to-end in terms of design capability, so that you can really address the power, signal integrity while you are developing before you do the very hard PC board. Overall, I have to say that this is a very good business for us, and then we will continue to invest in the area."

"Sigrity turned out to be a very good acquisition for us," he added. "We're able to provide that power analysis in our signal integrity analysis way in the beginning of the design."

For the fourth quarter, the company expects total revenue in the range of $370 million to $380 million.

For 2013, Cadence expects total revenue in the range of $1.453 billion to $1.463 billion.