What was Cadence's revenue performance in Q1 2019?

Cadence reported a total revenue of $576.7 million for the three months ended March 30, 2019, an increase of 11% compared to $517.3 million in the same period of 2018. This growth was largely driven by a 13% increase in product and maintenance revenue.

How did Cadence's profitability change in Q1 2019?

Net income for the first quarter of 2019 saw a substantial increase of 65% to $120.6 million, up from $72.9 million in the prior year. This translated to a diluted earnings per share of $0.43, compared to $0.26 in the first quarter of 2018.

What is Cadence's current liquidity and cash position?

As of March 30, 2019, Cadence maintained a strong liquidity position with $538.9 million in cash and cash equivalents, an increase from $533.3 million at the end of 2018. The company also had access to a revolving credit facility and generated positive cash flow from operations.

How is Cadence managing its debt and equity?

Cadence had total outstanding debt of $395.5 million as of March 30, 2019, primarily consisting of its 2024 Notes and a revolving credit facility. The company continued its stock repurchase program, buying back $81.1 million in shares during the quarter, and had approximately $594 million available for future repurchases.

CDNS 10-Q Quarterly Report Q1 FY2019 — Revenue, Net Income, EPS

Summary

Cadence Design Systems, Inc. (CDNS) reported solid financial results for the first quarter of 2019, demonstrating strong revenue growth and improved profitability. Total revenue increased by 11% year-over-year to $576.7 million, driven primarily by an 13% increase in product and maintenance revenue, reflecting robust customer demand for new, complex electronic designs. The company continued to invest in research and development, a key driver of its long-term growth strategy. The company's financial position remains strong, with cash and cash equivalents increasing to $538.9 million. Cadence also demonstrated a commitment to shareholder returns through its active stock repurchase program. Despite some minor fluctuations in services revenue and increased operating expenses related to R&D and sales, the overall performance indicates continued momentum in its core business and strategic initiatives.

Financial Highlights

47 data points

Beta

Revenue

$576.74M

Net Income

$120.56M

0.2% Net Margin

EPS (Diluted)

$0.43

Total Assets

$2.55B

Cash & Equivalents

$538.90M

Free Cash Flow

$170.14M

Financial Statements

Beta

Revenue	$576.74M
Operating Expenses	$448.35M
Operating Income	$128.40M
Interest Expense	$5.39M
Net Income	$120.56M
EPS (Basic)	$0.44
EPS (Diluted)	$0.43
Shares Outstanding (Basic)	273.07M
Shares Outstanding (Diluted)	280.62M

Key Highlights

1Total revenue increased by 11% to $576.7 million for the three months ended March 30, 2019, compared to $517.3 million for the same period in 2018.
2Product and maintenance revenue grew by 13% to $543.5 million, indicating strong demand for Cadence's core offerings.
3Net income significantly increased by 65% to $120.6 million for the quarter, leading to a diluted EPS of $0.43, up from $0.26 in the prior year.
4Cash and cash equivalents increased to $538.9 million as of March 30, 2019, indicating a healthy liquidity position.
5Operating expenses increased by 2% to $375.1 million, primarily driven by increased investments in marketing and sales, and research and development.
6The company repurchased $81.1 million of its common stock during the quarter, demonstrating a commitment to returning value to shareholders.
7Long-term liabilities increased to $549.0 million, mainly due to an increase in other long-term liabilities.

CADENCE DESIGN SYSTEMS INC Quarterly Report for Q1 Ended Mar 30, 2019

Summary

Financial Highlights

Key Highlights

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