10-QPeriod: Q3 FY2011

CADENCE DESIGN SYSTEMS INC Quarterly Report for Q3 Ended Jul 2, 2011

Filed July 29, 2011For Securities:CDNS

Summary

Cadence Design Systems Inc. (CDNS) reported its financial results for the quarter ending July 2, 2011. The company demonstrated steady performance, with notable revenue growth and a focus on managing operating expenses. Investors should note the company's strategic investments in research and development, which are crucial for maintaining its competitive edge in the electronic design automation (EDA) industry. While the filing indicates a healthy balance sheet, ongoing market dynamics and the competitive landscape remain key areas to monitor. The company's financial position appears stable, with sufficient liquidity to meet its short-term obligations. Management's discussion and analysis section likely provides further color on the operational drivers behind the reported numbers, including any significant backlog changes or customer wins. Investors are encouraged to review the detailed financial statements and accompanying notes for a comprehensive understanding of Cadence's financial health and future outlook.

Financial Highlights

52 data points
Beta

Revenue

$283.27M

92.9% Gross Margin

Net Income

$26.91M

9.5% Net Margin

EPS (Diluted)

$0.10

Total Assets

$1.87B

Cash & Equivalents

$665.32M

Free Cash Flow

$63.28M

Financial Statements
Beta
Revenue$283.27M
Cost of Revenue$20.07M
Gross Profit$263.20M
Operating Expenses$258.31M
Operating Income$24.96M
Interest Expense$10.77M
Net Income$26.91M
EPS (Basic)$0.10
EPS (Diluted)$0.10
Shares Outstanding (Basic)263.19M
Shares Outstanding (Diluted)270.88M

Key Highlights

  • 1Reporting period covers the quarter and six months ended July 2, 2011.
  • 2The filing includes condensed consolidated balance sheets, income statements, and cash flow statements.
  • 3Management's Discussion and Analysis of Financial Condition and Results of Operations provides insights into performance.
  • 4Quantitative and Qualitative Disclosures About Market Risk section details exposure to financial risks.
  • 5Legal Proceedings and Risk Factors sections outline potential challenges and uncertainties.
  • 6The company reported on controls and procedures to ensure accurate financial reporting.

Frequently Asked Questions

The filing indicates that the company is reporting on its financial performance for the quarter and six months ended July 2, 2011. Specific revenue figures would be detailed within the Condensed Consolidated Income Statements. Investors should refer to these statements for precise revenue growth or decline figures compared to the prior year's periods.

The Condensed Consolidated Balance Sheets as of July 2, 2011, and January 1, 2011, provide a snapshot of the company's assets, liabilities, and equity. The Statements of Cash Flows for the six months ended July 2, 2011, will detail the company's cash generation and usage from operating, investing, and financing activities.

The 'Risk Factors' section (Item 1A in Part II) is crucial for understanding potential challenges. This section typically outlines factors such as competitive pressures, technological changes, economic conditions, and other risks that could impact the company's future performance. Investors should carefully review this section.

Item 1 in Part II, 'Legal Proceedings,' would contain information regarding any significant lawsuits or legal matters that Cadence Design Systems is involved in during the reporting period. This is important for assessing potential financial or operational impacts from litigation.