{"id":517660,"date":"2021-07-26T16:08:35","date_gmt":"2021-07-26T20:08:35","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/cadence-reports-second-quarter-2021-financial-results\/"},"modified":"2021-07-26T16:08:35","modified_gmt":"2021-07-26T20:08:35","slug":"cadence-reports-second-quarter-2021-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cadence-reports-second-quarter-2021-financial-results\/","title":{"rendered":"Cadence Reports Second Quarter 2021 Financial Results"},"content":{"rendered":"

<\/p>\n

Cadence Reports Second Quarter 2021 Financial Results<\/b><\/p>\n

SAN JOSE, Calif.–(BUSINESS WIRE<\/a>)–
\nCadence Design Systems, Inc. (Nasdaq: CDNS) today announced results for the second quarter of 2021.\n<\/p>\n

\nCadence reported second quarter 2021 revenue of $728 million, compared to revenue of $638 million for the same period in 2020. On a GAAP basis, Cadence achieved operating margin of 25 percent and recognized net income of $156 million, or $0.56 per share on a diluted basis, in the second quarter of 2021, compared to operating margin of 24 percent and net income of $131 million, or $0.47 per share on a diluted basis for the same period in 2020.\n<\/p>\n

\nUsing the non-GAAP measure defined below, operating margin for the second quarter of 2021 was 39 percent and net income was $238 million, or $0.86 per share on a diluted basis, compared to operating margin of 35 percent and net income of $185 million, or $0.66 per share on a diluted basis, for the same period in 2020.\n<\/p>\n

\n\u201cCadence delivered outstanding financial results for the second quarter on broad based customer demand as the Cadence team continues to execute exceedingly well,\u201d said Lip-Bu Tan, chief executive officer. \u201cGenerational drivers are fueling strong design activity and our ISD strategy coupled with a strong innovation engine that has led to introducing eight significant new products so far this year, positions us extremely well to delight our customers and accelerate growth.\u201d\n<\/p>\n

\n\u201cCadence exceeded all of its key financial metrics for the second quarter and as a result we are raising our outlook for the year,\u201d said John Wall, senior vice president and chief financial officer.\n<\/p>\n

CFO Commentary<\/b><\/p>\n

\nCommentary on the second quarter 2021 financial results by John Wall, senior vice president and chief financial officer, is available at www.cadence.com\/cadence\/investor_relations<\/a>.\n<\/p>\n

Business Outlook<\/b><\/p>\n

\nFor the third quarter of 2021, the company expects total revenue in the range of $730 million to $750 million. Third quarter GAAP operating margin is expected to be approximately 23 percent and GAAP net income per diluted share is expected to be in the range of $0.48 to $0.50. Using the non-GAAP measure defined below, operating margin is expected to be approximately 34 percent and net income per diluted share is expected to be in the range of $0.74 to $0.76.\n<\/p>\n

\nFor 2021, the company expects total revenue in the range of $2.925 billion to $2.965 billion. On a GAAP basis, operating margin is expected to be in the range of 24.5 percent to 25.25 percent and GAAP net income per diluted share for 2021 is expected to be in the range of $2.15 to $2.21. Using the non-GAAP measure defined below, operating margin for 2021 is expected to be in the range of 36 percent to 36.75 percent and net income per diluted share for 2021 is expected to be in the range of $3.14 to $3.20.\n<\/p>\n

\nOur fiscal years are 52- or 53-week periods ending on the Saturday closest to December 31. Fiscal 2021 will be a 52-week fiscal year. Fiscal 2020 was a 53-week fiscal year, with an additional week in our fourth quarter of 2020.\n<\/p>\n

\nA schedule showing a reconciliation of the business outlook from GAAP operating margin, GAAP net income and diluted net income per share to non-GAAP operating margin and non-GAAP net income and diluted net income per share is included in this release.\n<\/p>\n

Audio Webcast Scheduled<\/b><\/p>\n

\nLip-Bu Tan, chief executive officer, Anirudh Devgan, president and John Wall, senior vice president and chief financial officer, will host the second quarter 2021 financial results audio webcast today, July 26, 2021, at 2 p.m. (Pacific) \/ 5 p.m. (Eastern). Attendees are asked to register at the website at least 10 minutes prior to the scheduled webcast. An archive of the webcast will be available starting July 26, 2021 at 5 p.m. (Pacific) and ending September 17, 2021 at 5 p.m. (Pacific). Webcast access is available at www.cadence.com\/cadence\/investor_relations<\/a>.\n<\/p>\n

About Cadence<\/b><\/p>\n

\nCadence is a pivotal leader in electronic design, building upon more than 30 years of computational software expertise. The company applies its underlying Intelligent System Design strategy to deliver software, hardware and IP that turn design concepts into reality. Cadence customers are the world\u2019s most innovative companies, delivering extraordinary electronic products from chips to boards to systems for the most dynamic market applications, including consumer, hyperscale computing, 5G communications, automotive, mobile, aerospace, industrial and healthcare. For seven years in a row, Fortune magazine has named Cadence one of the 100 Best Companies to Work For. Learn more at cadence.com<\/a>.\n<\/p>\n

\u00a9 2021 Cadence Design Systems, Inc. All rights reserved worldwide. Cadence, the Cadence logo and the other Cadence marks found at www.cadence.com\/go\/trademarks<\/a> are trademarks or registered trademarks of Cadence Design Systems, Inc. All other trademarks are the property of their respective owners.<\/i><\/b><\/p>\n

\nThis document includes forward-looking statements which are based on current expectations and preliminary assumptions that are subject to factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties and other factors, many of which are outside Cadence\u2019s control, including, among others: (i) Cadence\u2019s ability to compete successfully in the highly competitive industries in which it operates; (ii) the success of Cadence\u2019s efforts to maintain and improve operational efficiency and growth; (iii) the mix of products and services sold, the timing of orders and the ability to develop, install or deliver Cadence\u2019s products or services; (iv) change in customer demands that could result in delays in purchases, development, installations or deliveries of Cadence’s products or services, including those resulting from consolidation, restructurings and other operational efficiency improvements of Cadence\u2019s customers; (v) economic and industry conditions, including that of the semiconductor and electronics industries, government regulations and trade restrictions; (vi) capital expenditure requirements, legislative or regulatory requirements, changes in tax laws, interest rates, currency exchange rate fluctuations and Cadence\u2019s ability to access capital and debt markets; (vii) the acquisition of other companies or technologies or the failure to successfully integrate and operate them; (viii) events that affect cash flow, liquidity, or reserves, or settlement assumptions Cadence may take from time to time with respect to accounts receivable, taxes and tax examinations, litigation or other matters; (ix) the effects of any litigation or other proceedings to which Cadence is or may become a party; and (x) the duration, severity and effects of the COVID-19 pandemic and containment measures on Cadence, its employees, and its suppliers and customers, which may also have the effect of heightening the other risks described in this paragraph. In addition, the timing and amount of Cadence’s repurchase of its common stock under the authorizations will be subject to business and market conditions, corporate and regulatory requirements, stock price, acquisition opportunities and other factors.\n<\/p>\n

\nFor a detailed discussion of these and other cautionary statements related to Cadence\u2019s business, please refer to Cadence\u2019s filings with the U.S. Securities and Exchange Commission, which include Cadence\u2019s most recent reports on Form 10-K and Form 10-Q, including Cadence\u2019s future filings.\n<\/p>\n

GAAP to Non-GAAP Reconciliation<\/b><\/p>\n

\nNon-GAAP financial measures should not be considered as a substitute for or superior to measures of financial performance prepared in accordance with generally accepted accounting principles, or GAAP. Investors are encouraged to review the reconciliation of non-GAAP financial measures contained within this press release with their most directly comparable GAAP financial results. Investors are also encouraged to look at the GAAP results as the best measure of financial performance.\n<\/p>\n

\nTo supplement Cadence\u2019s financial results presented on a GAAP basis, Cadence management uses non-GAAP measures that it believes are helpful in understanding Cadence\u2019s performance. One such measure is non-GAAP net income, which is a financial measure not calculated under GAAP. Non-GAAP net income is calculated by Cadence management by taking GAAP net income and excluding, as applicable, amortization of intangible assets, stock-based compensation expense, acquisition and integration-related costs including retention expenses, investment gains or losses, income or expenses related to Cadence\u2019s non-qualified deferred compensation plan, restructuring, executive severance and other significant items not directly related to Cadence\u2019s core business operations, and the income tax effect of non-GAAP pre-tax adjustments.\n<\/p>\n

\nCadence management uses non-GAAP net income because it excludes items that are generally not directly related to the performance of Cadence\u2019s core business operations and therefore provides supplemental information to Cadence management and investors regarding the performance of the business operations, facilitates comparisons to the historical operating results and allows the review of Cadence’s business from the same perspective as Cadence management, including forecasting and budgeting.\n<\/p>\n

\nThe following tables reconcile the specific items excluded from GAAP operating margin, GAAP net income and GAAP net income per diluted share in the calculation of non-GAAP operating margin, non-GAAP net income and non-GAAP net income per diluted share for the periods shown below:\n<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\nOperating Margin Reconciliation\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\nThree Months Ended\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\nJuly 3, 2021\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\nJune 27, 2020\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(unaudited)\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nGAAP operating margin as a percent of total revenue\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n25%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n24%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nReconciling items to non-GAAP operating margin as a percent of total revenue:\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nStock-based compensation expense\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n7%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n7%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nAmortization of acquired intangibles\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nAcquisition and integration-related costs\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nRestructuring and other credits\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNon-qualified deferred compensation expenses\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nSpecial charges*\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n4%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0%\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNon-GAAP operating margin as a percent of total revenue\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n39%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n35%\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n
\n

\n*\n<\/p>\n<\/td>\n

\n\n

\nQ2 2021 includes costs related to a voluntary retirement program.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\nNet Income Reconciliation\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\nThree Months Ended\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\nJuly 3, 2021\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\nJune 27, 2020\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n(in thousands)\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(unaudited)\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet income on a GAAP basis\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n155,900\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n131,288\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nStock-based compensation expense\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n50,518\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n46,907\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nAmortization of acquired intangibles\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n17,262\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n16,074\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nAcquisition and integration-related costs\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n5,631\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n5,315\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nRestructuring and other credits\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(469\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(275\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNon-qualified deferred compensation expenses\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2,411\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n3,618\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nSpecial charges*\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n26,832\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n270\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nOther income or expense related to investments and non-qualified deferred compensation plan assets**\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(1,774\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(2,797\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nIncome tax effect of non-GAAP adjustments\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(18,023\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(15,786\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet income on a non-GAAP basis\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n238,288\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n184,614\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n
\n

\n*\n<\/p>\n<\/td>\n

\n\n

\nQ2 2021 includes costs related to a voluntary retirement program.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n
\n

\n**\n<\/p>\n<\/td>\n

\n\n

\nIncludes, as applicable, equity in losses or income from investments, write-down of investments, gains or losses on investments and gains or losses on non-qualified deferred compensation plan assets recorded in other income or expense.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\nDiluted Net Income Per Share Reconciliation\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\nThree Months Ended\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\nJuly 3, 2021\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\nJune 27, 2020\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n(in thousands, except per share data)\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(unaudited)\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nDiluted net income per share on a GAAP basis\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n0.56\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n0.47\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nStock-based compensation expense\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.18\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.17\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nAmortization of acquired intangibles\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.06\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.06\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nAcquisition and integration-related costs\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.02\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.02\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nRestructuring and other credits\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u2014\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u2014\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNon-qualified deferred compensation expenses\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.01\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.01\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nSpecial charges*\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.10\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u2014\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nOther income or expense related to investments and non-qualified deferred compensation plan assets**\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(0.01\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(0.01\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nIncome tax effect of non-GAAP adjustments\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(0.06\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(0.06\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nDiluted net income per share on a non-GAAP basis\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n0.86\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n0.66\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nShares used in calculation of diluted net income per share\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n278,558\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n279,080\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n
\n

\n*\n<\/p>\n<\/td>\n

\n\n

\nQ2 2021 includes costs related to a voluntary retirement program.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n
\n

\n**\n<\/p>\n<\/td>\n

\n\n

\nIncludes, as applicable, equity in losses or income from investments, write-down of investments, gains or losses on investments and gains or losses on non-qualified deferred compensation plan assets recorded in other income or expense.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nCadence expects that its corporate representatives will meet privately during the quarter with investors, the media, investment analysts and others. At these meetings, Cadence may reiterate the business outlook published in this press release. At the same time, Cadence will keep this press release, including the business outlook, publicly available on its website.\n<\/p>\n

\nPrior to the start of the Quiet Period (described below), the public may continue to rely on the business outlook contained herein as still being Cadence\u2019s current expectations on matters covered unless Cadence publishes a notice stating otherwise.\n<\/p>\n

\nBeginning September 17, 2021, Cadence will observe a Quiet Period during which the business outlook as provided in this press release and the most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q no longer constitute Cadence\u2019s current expectations. During the Quiet Period, the business outlook in these documents should be considered historical, speaking as of prior to the Quiet Period only and not subject to any update by Cadence. During the Quiet Period, Cadence\u2019s representatives will not comment on Cadence\u2019s business outlook, financial results or expectations. The Quiet Period will extend until Cadence\u2019s third quarter 2021 earnings release is published, which is currently scheduled for October 25, 2021.\n<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Cadence Design Systems, Inc.<\/b><\/td>\n<\/tr>\n
Condensed Consolidated Balance Sheets<\/b><\/td>\n<\/tr>\n
July 3, 2021 and January 2, 2021<\/b><\/td>\n<\/tr>\n
(In thousands)<\/b><\/td>\n<\/tr>\n
(Unaudited)<\/b><\/td>\n<\/tr>\n
\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\n\n\n\n\nJuly 3, 2021<\/b><\/td>\n\nJanuary 2, 2021<\/b><\/td>\n<\/tr>\n
\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Current assets:<\/td>\n\n\n\n\n\n\n<\/tr>\n
\nCash and cash equivalents<\/td>\n\n\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n847,160\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n928,432\n<\/p>\n<\/td>\n<\/tr>\n

\nReceivables, net<\/td>\n\n\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n389,986\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n338,487\n<\/p>\n<\/td>\n<\/tr>\n

\nInventories<\/td>\n\n\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n90,479\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n75,956\n<\/p>\n<\/td>\n<\/tr>\n

\nPrepaid expenses and other<\/td>\n\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n129,442\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n135,712\n<\/p>\n<\/td>\n<\/tr>\n

\n\nTotal current assets<\/td>\n\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1,457,067\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1,478,587\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Property, plant and equipment, net<\/td>\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n301,979\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n311,125\n<\/p>\n<\/td>\n<\/tr>\n

Goodwill<\/td>\n\n\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n929,525\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n782,087\n<\/p>\n<\/td>\n<\/tr>\n

Acquired intangibles, net<\/td>\n\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n264,789\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n210,590\n<\/p>\n<\/td>\n<\/tr>\n

Deferred taxes<\/td>\n\n\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n729,790\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n732,290\n<\/p>\n<\/td>\n<\/tr>\n

Other assets<\/td>\n\n\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n439,398\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n436,106\n<\/p>\n<\/td>\n<\/tr>\n

Total assets<\/td>\n\n\n\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n4,122,548\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n3,950,785\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Current liabilities:<\/td>\n\n\n\n\n\n\n<\/tr>\n
\nAccounts payable and accrued liabilities<\/td>\n\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n340,607\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n349,951\n<\/p>\n<\/td>\n<\/tr>\n

\nCurrent portion of deferred revenue<\/td>\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n586,109\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n446,857\n<\/p>\n<\/td>\n<\/tr>\n

\n\nTotal current liabilities<\/td>\n\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n926,716\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n796,808\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Long-term liabilities:<\/td>\n\n\n\n\n\n\n<\/tr>\n
\nLong-term portion of deferred revenue<\/td>\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n98,408\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n107,064\n<\/p>\n<\/td>\n<\/tr>\n

\nLong-term debt<\/td>\n\n\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n347,186\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n346,793\n<\/p>\n<\/td>\n<\/tr>\n

\nOther long-term liabilities<\/td>\n\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n233,495\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n207,102\n<\/p>\n<\/td>\n<\/tr>\n

\n\nTotal long-term liabilities<\/td>\n\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n679,089\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n660,959\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Stockholders’ equity<\/td>\n\n\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2,516,743\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2,493,018\n<\/p>\n<\/td>\n<\/tr>\n

Total liabilities and stockholders’ equity<\/td>\n\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n4,122,548\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n3,950,785\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Cadence Design Systems, Inc.<\/b><\/td>\n<\/tr>\n
Condensed Consolidated Income Statements<\/b><\/td>\n<\/tr>\n
For the Three and Six Months Ended July 3, 2021 and June 27, 2020<\/b><\/td>\n<\/tr>\n
(In thousands, except per share amounts)<\/b><\/td>\n<\/tr>\n
(Unaudited)<\/b><\/td>\n<\/tr>\n
\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\n\n\nThree Months Ended<\/b><\/td>\n\nSix Months Ended<\/b><\/td>\n<\/tr>\n
\n\n\n\n\n\nJuly 3, 2021<\/b><\/td>\n\nJune 27, 2020<\/b><\/td>\n\nJuly 3, 2021<\/b><\/td>\n\nJune 27, 2020<\/b><\/td>\n<\/tr>\n
\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Revenue:<\/td>\n\n\n\n\n\n\n\n\n<\/tr>\n
\nProduct and maintenance<\/td>\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n687,884\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n601,356\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n1,386,938\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n1,183,055\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\nServices<\/td>\n\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n40,401\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n37,062\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n77,375\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n73,320\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\nTotal revenue<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n728,285\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n638,418\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1,464,313\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1,256,375\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Costs and expenses:<\/td>\n\n\n\n\n\n\n\n<\/tr>\n
\nCost of product and maintenance<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n55,842\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n55,669\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n120,748\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n111,115\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\nCost of services<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n20,917\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n19,546\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n39,978\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n38,563\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\nMarketing and sales<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n135,967\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n120,476\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n268,793\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n246,220\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\nResearch and development<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n285,227\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n250,821\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n556,219\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n492,489\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\nGeneral and administrative<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n40,333\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n35,641\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n80,285\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n69,233\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\nAmortization of acquired intangibles<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n5,030\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n4,590\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n9,661\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n8,796\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\nRestructuring and other credits<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(469\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(275\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(746\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(1,342\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\nTotal costs and expenses<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n542,847\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n486,468\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1,074,938\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n965,074\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\nIncome from operations<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n185,438\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n151,950\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n389,375\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n291,301\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\nInterest expense<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(4,316\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(5,914\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(8,533\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(10,551\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

\nOther income, net<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2,143\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n4,630\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n4,844\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n96\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\nIncome before provision for income taxes<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n183,265\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n150,666\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n385,686\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n280,846\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\nProvision for income taxes<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n27,365\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n19,378\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n42,617\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n25,570\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\nNet income<\/td>\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n155,900\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n131,288\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n343,069\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n255,276\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Net income per share – basic<\/td>\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n0.57\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n0.48\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n1.25\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n0.93\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Net income per share – diluted<\/td>\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n0.56\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n0.47\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n1.23\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n0.91\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Weighted average common shares outstanding – basic<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n273,565\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n273,432\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n273,843\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n273,488\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Weighted average common shares outstanding – diluted<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n278,558\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n279,080\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n279,399\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n279,207\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Cadence Design Systems, Inc. <\/b><\/td>\n<\/tr>\n
Condensed Consolidated Statements of Cash Flows<\/b><\/td>\n<\/tr>\n
For the Six Months Ended July 3, 2021 and June 27, 2020<\/b><\/td>\n<\/tr>\n
(In thousands)<\/b><\/td>\n<\/tr>\n
(Unaudited)<\/b><\/td>\n<\/tr>\n
<\/tr>\n
\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\nSix Months Ended<\/b><\/td>\n<\/tr>\n
\n\nJuly 3,<\/b><\/td>\n\nJune 27,<\/b><\/td>\n<\/tr>\n
\n\n\n

2021<\/b><\/p>\n<\/td>\n

\n\n

2020<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Cash and cash equivalents at beginning of period<\/td>\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n928,432\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n705,210\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Cash flows from operating activities:<\/td>\n\n\n\n<\/tr>\n
Net income<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n343,069\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n255,276\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Adjustments to reconcile net income to net cash provided by operating activities:<\/td>\n\n\n\n<\/tr>\n
Depreciation and amortization<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n71,799\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n69,902\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Amortization of debt discount and fees<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n687\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n512\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Stock-based compensation<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n103,114\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n93,389\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

(Gain) loss on investments, net<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(795\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n4,036\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Deferred income taxes<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1,710\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(1,609\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

Provisions for losses on receivables<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n242\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n922\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

ROU asset amortization and change in operating lease liabilities<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(2,483\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1,502\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Other non-cash items<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n183\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n296\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Changes in operating assets and liabilities, net of effect of acquired businesses:<\/td>\n\n\n\n<\/tr>\n
Receivables<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(48,016\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(2,497\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

Inventories<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(14,527\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n11,020\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Prepaid expenses and other<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n7,690\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n9,910\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Other assets<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n6,991\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(17,687\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

Accounts payable and accrued liabilities<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(14,771\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(11,141\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

Deferred revenue<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n127,286\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n148,508\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Other long-term liabilities<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n6,639\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n504\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Net cash provided by operating activities<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n588,818\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n562,843\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Cash flows from investing activities:<\/td>\n\n\n\n<\/tr>\n
Purchases of property, plant and equipment<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(31,139\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(43,535\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

Cash paid in business combinations, net of cash acquired<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(220,660\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(195,118\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

Net cash used for investing activities<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(251,799\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(238,653\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Cash flows from financing activities:<\/td>\n\n\n\n<\/tr>\n
Proceeds from revolving credit facility<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n–\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n350,000\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Payment of debt issuance costs<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(1,285\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n–\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Proceeds from issuance of common stock<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n52,252\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n43,667\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

Stock received for payment of employee taxes on vesting of restricted stock<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(78,053\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(53,657\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

Payments for repurchases of common stock<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(392,290\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(175,036\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

Net cash provided by (used for) financing activities<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(419,376\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n164,974\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Effect of exchange rate changes on cash and cash equivalents<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1,085\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(5,188\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Increase (decrease) in cash and cash equivalents<\/td>\n\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(81,272\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n

\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n483,976\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Cash and cash equivalents at end of period<\/td>\n\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n847,160\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n\n

\n$\n<\/p>\n<\/td>\n

\n

\n1,189,186\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Cadence Design Systems, Inc.<\/b><\/td>\n<\/tr>\n
(Unaudited)<\/b><\/td>\n<\/tr>\n
\n\n\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Revenue Mix by Geography (% of Total Revenue)<\/b><\/td>\n\n\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\n

2020<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n\n

2021<\/b><\/p>\n<\/td>\n<\/tr>\n

GEOGRAPHY<\/span><\/b><\/td>\n\n\n\n

Q1 <\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

Q2 <\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

Q3 <\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

Q4 <\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

Year <\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n\n

Q1 <\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

Q2 <\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Americas<\/td>\n\n\n\n

\n43%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n44%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n42%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n41%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

42%<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n\n

\n46%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n44%\n<\/p>\n<\/td>\n<\/tr>\n

China<\/td>\n\n\n\n

\n13%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n12%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n17%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n17%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

15%<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n\n

\n12%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n14%\n<\/p>\n<\/td>\n<\/tr>\n

Other Asia<\/td>\n\n\n\n

\n18%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n19%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n19%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n18%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

18%<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n\n

\n18%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n19%\n<\/p>\n<\/td>\n<\/tr>\n

Europe, Middle East and Africa<\/td>\n\n\n\n

\n19%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n18%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n16%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n17%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

18%<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n\n

\n18%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n17%\n<\/p>\n<\/td>\n<\/tr>\n

Japan<\/td>\n\n\n\n

\n7%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n7%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n6%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n7%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

7%<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n\n

\n6%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n6%\n<\/p>\n<\/td>\n<\/tr>\n

Total<\/b><\/td>\n\n\n\n

100%<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

100%<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

100%<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

100%<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

100%<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n\n

100%<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

100%<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Revenue Mix by Product Category (% of Total Revenue)<\/b><\/td>\n\n\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\n

2020<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n\n

2021<\/b><\/p>\n<\/td>\n<\/tr>\n

PRODUCT CATEGORY<\/span><\/b><\/td>\n\n\n\n

Q1 <\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

Q2 <\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

Q3 <\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

Q4 <\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

Year <\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n\n

Q1 <\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

Q2 <\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Custom IC Design and Simulation<\/td>\n\n\n\n

\n25%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n24%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n24%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n26%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

25%<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n\n

\n23%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n23%\n<\/p>\n<\/td>\n<\/tr>\n

Digital IC Design and Signoff<\/td>\n\n\n\n

\n29%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n28%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n27%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n31%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

29%<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n\n

\n27%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n28%\n<\/p>\n<\/td>\n<\/tr>\n

Functional Verification, including Emulation and Prototyping Hardware<\/td>\n\n\n\n

\n23%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n24%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n23%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n19%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

22%<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n\n

\n26%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n25%\n<\/p>\n<\/td>\n<\/tr>\n

IP<\/td>\n\n\n\n

\n14%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n14%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n15%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n13%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

14%<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n\n

\n14%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n13%\n<\/p>\n<\/td>\n<\/tr>\n

System Design and Analysis<\/td>\n\n\n\n

\n9%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n10%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n11%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n11%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

10%<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n\n

\n10%\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n11%\n<\/p>\n<\/td>\n<\/tr>\n

Total<\/b><\/td>\n\n\n\n

100%<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

100%<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

100%<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

100%<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

100%<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n\n

100%<\/b><\/p>\n<\/td>\n

\u00a0<\/td>\n\n

100%<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\u00a0<\/td>\n\n\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Cadence Design Systems, Inc.<\/b><\/td>\n<\/tr>\n
Impact of Non-GAAP Adjustments on Forward Looking Operating Margin<\/b><\/td>\n<\/tr>\n
As of July 26, 2021<\/b><\/td>\n<\/tr>\n
(Unaudited)<\/b><\/td>\n<\/tr>\n
\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\nThree Months Ending<\/b><\/td>\n\nYear Ending<\/b><\/td>\n<\/tr>\n
\n\nOctober 2, 2021<\/b><\/td>\n\nJanuary 1, 2022<\/b><\/td>\n<\/tr>\n
\n\nForecast<\/b><\/td>\n\nForecast<\/b><\/td>\n<\/tr>\n
\n\n\n\n\u00a0<\/td>\n<\/tr>\n
GAAP operating margin as a percent of total revenue<\/td>\n~23% <\/b><\/td>\n\n\n

24.5% – 25.25% <\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Reconciling items to non-GAAP operating margin as a<\/td>\n\n\n<\/tr>\n
percent of total revenue:<\/td>\n\n\n<\/tr>\n
\nStock-based compensation expense<\/td>\n\n

\n8%\n<\/p>\n<\/td>\n

\n\n

\n7.5%\n<\/p>\n<\/td>\n<\/tr>\n

\nAmortization of acquired intangibles<\/td>\n\n

\n2%\n<\/p>\n<\/td>\n

\n\n

\n2.3%\n<\/p>\n<\/td>\n<\/tr>\n

\nAcquisition and integration-related costs<\/td>\n\n

\n1%\n<\/p>\n<\/td>\n

\n\n

\n0.7%\n<\/p>\n<\/td>\n<\/tr>\n

\nRestructuring and other credits<\/td>\n\n

\n0%\n<\/p>\n<\/td>\n

\n\n

\n0.0%\n<\/p>\n<\/td>\n<\/tr>\n

\nNon-qualified deferred compensation expenses<\/td>\n\n

\n0%\n<\/p>\n<\/td>\n

\n\n

\n0.1%\n<\/p>\n<\/td>\n<\/tr>\n

\nSpecial charges*<\/td>\n\n

\n0%\n<\/p>\n<\/td>\n

\n\n

\n0.9%\n<\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Non-GAAP operating margin as a percent of total revenue\u2020<\/td>\n\n

\n~34%\n<\/p>\n<\/td>\n

\n\n

\n36% – 36.75%\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n
\u2020<\/b><\/td>\n\u00a0<\/td>\nThe non-GAAP measures presented in the table above should not be considered a substitute for\u00a0<\/b>financial results and measures determined or calculated in accordance with GAAP.\u00a0<\/b><\/td>\n<\/tr>\n
\n\u00a0<\/td>\n<\/tr>\n
*<\/td>\n\u00a0<\/td>\nComprised of costs related to a voluntary retirement program.<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Cadence Design Systems, Inc.<\/b><\/td>\n<\/tr>\n
Impact of Non-GAAP Adjustments on Forward Looking Diluted Net Income Per Share <\/b><\/td>\n<\/tr>\n
As of July 26, 2021<\/b><\/td>\n<\/tr>\n
(Unaudited)<\/b><\/td>\n<\/tr>\n
\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\nThree Months Ending<\/b><\/td>\n\nYear Ending<\/b><\/td>\n<\/tr>\n
\n\nOctober 2, 2021<\/b><\/td>\n\nJanuary 1, 2022<\/b><\/td>\n<\/tr>\n
\n\nForecast<\/b><\/td>\n\nForecast<\/b><\/td>\n<\/tr>\n
\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Diluted net income per share on a GAAP basis<\/td>\n$0.48 to $0.50 <\/b><\/td>\n\n$2.15 to $2.21 <\/b><\/td>\n<\/tr>\n
\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\nStock-based compensation expense<\/td>\n\n

\n0.20\n<\/p>\n<\/td>\n

\n\n

\n0.79\n<\/p>\n<\/td>\n

<\/tr>\n
\nAmortization of acquired intangibles<\/td>\n\n

\n0.06\n<\/p>\n<\/td>\n

\n\n

\n0.24\n<\/p>\n<\/td>\n

<\/tr>\n
\nAcquisition and integration-related costs<\/td>\n\n

\n0.02\n<\/p>\n<\/td>\n

\n\n

\n0.08\n<\/p>\n<\/td>\n

<\/tr>\n
\nRestructuring and other credits<\/td>\n\n

\n–\n<\/p>\n<\/td>\n

\n\n

\n–\n<\/p>\n<\/td>\n

<\/tr>\n
\nNon-qualified deferred compensation expenses<\/td>\n\n

\n–\n<\/p>\n<\/td>\n

\n\n

\n0.01\n<\/p>\n<\/td>\n

<\/tr>\n
\nSpecial charges*<\/td>\n\n

\n–\n<\/p>\n<\/td>\n

\n\n

\n0.10\n<\/p>\n<\/td>\n

<\/tr>\n
\nOther income or expense related to investments and non-qualified deferred compensation plan assets**<\/td>\n\n

\n–\n<\/p>\n<\/td>\n

\n\n

\n(0.02)\n<\/p>\n<\/td>\n

<\/tr>\n
\nIncome tax effect of non-GAAP adjustments<\/td>\n\n

\n(0.02)\n<\/p>\n<\/td>\n

\n\n

\n(0.21)\n<\/p>\n<\/td>\n

<\/tr>\n
\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Diluted net income per share on a non-GAAP basis\u2020<\/td>\n$0.74 to $0.76<\/td>\n\n$3.14 to $3.20<\/td>\n<\/tr>\n
\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Cadence Design Systems, Inc.<\/b><\/td>\n<\/tr>\n
Impact of Non-GAAP Adjustments on Forward Looking Net Income<\/b><\/td>\n<\/tr>\n
As of July 26, 2021<\/b><\/td>\n<\/tr>\n
(Unaudited)<\/b><\/td>\n<\/tr>\n
\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\nThree Months Ending<\/b><\/td>\n\nYear Ending<\/b><\/td>\n<\/tr>\n
\n\nOctober 2, 2021<\/b><\/td>\n\nJanuary 1, 2022<\/b><\/td>\n<\/tr>\n
($ in millions)<\/b><\/td>\nForecast<\/b><\/td>\n\nForecast<\/b><\/td>\n<\/tr>\n
\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Net income on a GAAP basis<\/td>\n$133 to $139 <\/b><\/td>\n\n$600 to $616 <\/b><\/td>\n<\/tr>\n
\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\nStock-based compensation expense<\/td>\n\n

\n57\n<\/p>\n<\/td>\n

\n\n

\n220\n<\/p>\n<\/td>\n

<\/tr>\n
\nAmortization of acquired intangibles<\/td>\n\n

\n17\n<\/p>\n<\/td>\n

\n\n

\n67\n<\/p>\n<\/td>\n

<\/tr>\n
\nAcquisition and integration-related costs<\/td>\n\n

\n5\n<\/p>\n<\/td>\n

\n\n

\n22\n<\/p>\n<\/td>\n

<\/tr>\n
\nRestructuring and other credits<\/td>\n\n

\n–\n<\/p>\n<\/td>\n

\n\n

\n(1)\n<\/p>\n<\/td>\n

<\/tr>\n
\nNon-qualified deferred compensation expenses<\/td>\n\n

\n–\n<\/p>\n<\/td>\n

\n\n

\n4\n<\/p>\n<\/td>\n

<\/tr>\n
\nSpecial charges*<\/td>\n\n

\n–\n<\/p>\n<\/td>\n

\n\n

\n27\n<\/p>\n<\/td>\n

<\/tr>\n
\nOther income or expense related to investments and non-qualified deferred compensation plan assets**<\/td>\n\n

\n–\n<\/p>\n<\/td>\n

\n\n

\n(5)\n<\/p>\n<\/td>\n

<\/tr>\n
\nIncome tax effect of non-GAAP adjustments<\/td>\n\n

\n(7)\n<\/p>\n<\/td>\n

\n\n

\n(57)\n<\/p>\n<\/td>\n

<\/tr>\n
\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
Net income on a non-GAAP basis\u2020<\/td>\n$205 to $211<\/td>\n\n$877 to $893<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n
\u2020<\/b><\/td>\n\nThe non-GAAP measures presented in the table above should not be considered a substitute for financial results and measures determined or calculated in accordance with GAAP. <\/b><\/td>\n<\/tr>\n
\n\n\n\n\u00a0<\/td>\n<\/tr>\n
*<\/td>\n\nComprised of costs related to a voluntary retirement program.<\/td>\n<\/tr>\n
\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n

\n**\n<\/p>\n<\/td>\n

\nIncludes, as applicable, equity in losses or income from investments, write-down of investments, gains or losses on investments and gains or losses on non-qualified deferred compensation plan assets recorded in other income or expense.<\/td>\n<\/tr>\n<\/table>\n

\nCDNS-IR\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210726005749\/en\/<\/a><\/span><\/p>\n

\nFor more information, please contact:\n<\/p>\n

\nCadence Investor Relations
\n
408-944-7100
\n
investor_relations@cadence.com<\/a><\/p>\n

\nCadence Newsroom
\n
408-944-7039
\n
newsroom@cadence.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America California<\/p>\n

INDUSTRY KEYWORDS:<\/b> Semiconductor Hardware Electronic Design Automation Technology Software<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Cadence Reports Second Quarter 2021 Financial Results SAN JOSE, Calif.–(BUSINESS WIRE)– Cadence Design Systems, Inc. (Nasdaq: CDNS) today announced results for the second quarter of 2021. Cadence reported second quarter 2021 revenue of $728 million, compared to revenue of $638 million for the same period in 2020. On a GAAP basis, Cadence achieved operating margin of 25 percent and recognized net income of $156 million, or $0.56 per share on a diluted basis, in the second quarter of 2021, compared to operating margin of 24 percent and net income of $131 million, or $0.47 per share on a diluted basis for the same period in 2020. Using the non-GAAP measure defined below, operating margin for the second quarter of 2021 … <\/p>\n

Continue reading “Cadence Reports Second Quarter 2021 Financial Results”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-517660","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nCadence Reports Second Quarter 2021 Financial Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cadence-reports-second-quarter-2021-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cadence Reports Second Quarter 2021 Financial Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Cadence Reports Second Quarter 2021 Financial Results SAN JOSE, Calif.–(BUSINESS WIRE)– Cadence Design Systems, Inc. (Nasdaq: CDNS) today announced results for the second quarter of 2021. Cadence reported second quarter 2021 revenue of $728 million, compared to revenue of $638 million for the same period in 2020. On a GAAP basis, Cadence achieved operating margin of 25 percent and recognized net income of $156 million, or $0.56 per share on a diluted basis, in the second quarter of 2021, compared to operating margin of 24 percent and net income of $131 million, or $0.47 per share on a diluted basis for the same period in 2020. 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