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Cadence Design Systems, Inc. | ||||||||||||
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Condensed Consolidated Income Statements | ||||||||||||
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For the Three Months and Years Ended December 28, 2013 and December 29, 2012 | ||||||||||||
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(In thousands, except per share amounts) | ||||||||||||
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(Unaudited) | ||||||||||||
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Three Months Ended |
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Years Ended | ||||
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December 28,
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December 29,
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December 28,
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December 29,
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Revenue: |
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Product and maintenance |
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$ 350,079 |
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$ 318,513 |
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$ 1,357,934 |
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$ 1,212,429 | |||
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Services |
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26,643 |
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27,072 |
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102,182 |
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113,995 | ||
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Total revenue |
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376,722 |
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345,585 |
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1,460,116 |
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1,326,424 | |
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Costs and expenses: |
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Cost of product and maintenance |
41,757 |
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24,437 |
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132,245 |
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118,516 | ||||
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Cost of services |
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17,274 |
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19,353 |
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67,956 |
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72,607 | ||
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Marketing and sales |
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94,384 |
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95,604 |
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378,157 |
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342,278 | |||
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Research and development |
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135,465 |
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118,382 |
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534,022 |
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454,085 | |||
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General and administrative |
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29,481 |
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27,712 |
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121,314 |
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112,076 | |||
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Amortization of acquired intangibles |
5,157 |
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3,772 |
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19,416 |
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15,077 | ||||
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Restructuring and other charges |
15,405 |
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64 |
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17,999 |
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113 | ||||
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Total costs and expenses |
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338,923 |
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289,324 |
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1,271,109 |
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1,114,752 | ||
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Income from operations |
37,799 |
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56,261 |
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189,007 |
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211,672 | ||
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Interest expense |
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(9,208) |
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(8,902) |
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(37,581) |
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(34,742) | ||
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Other income, net |
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842 |
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5,369 |
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7,570 |
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11,341 | |||
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Income before benefit for income taxes |
29,433 |
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52,728 |
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158,996 |
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188,271 | ||
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Benefit for income taxes |
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(8,272) |
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(261,146) |
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(5,247) |
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(251,677) | |||
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Net income |
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$ 37,705 |
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$ 313,874 |
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$ 164,243 |
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$ 439,948 | |
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Net income per share - basic |
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$ 0.13 |
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$ 1.15 |
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$ 0.59 |
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$ 1.63 | ||||
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Net income per share - diluted |
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$ 0.13 |
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$ 1.10 |
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$ 0.56 |
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$ 1.57 | ||||
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Weighted average common shares outstanding - basic |
280,083 |
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272,884 |
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277,796 |
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270,479 | |||||
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Weighted average common shares outstanding - diluted |
294,663 |
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286,289 |
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294,564 |
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280,667 | |||||
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Cadence Reports Fourth Quarter and Fiscal Year 2013 Financial Results
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