SAN JOSE – Cadence Design Systems reported fourth quarter revenue of $600 million, up 5.3% year-over-year. Net income was $660 million, up 574% compared to the fourth quarter of 2018. GAAP net income for the quarter included a one-time non-cash tax benefit of $576 million related to intercompany transfers of certain IP rights to Cadence's Irish subsidiary.

SAN DIEGO — In recognition of his contributions to IPC and the electronics industry, Steve Pudles, president and CEO, Zentech Manufacturing, was inducted into the IPC Raymond E. Pritchard Hall of Fame at IPC Apex Expo this week.