Cadence Reports Second Quarter 2017 Financial Results

Cadence 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.

Prior 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's current expectations on matters covered unless Cadence publishes a notice stating otherwise.

Beginning September 15, 2017, 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 the company's 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 the company. During the Quiet Period, Cadence's representatives will not comment on Cadence's business outlook, financial results or expectations. The Quiet Period will extend until the day when Cadence's third quarter 2017 earnings release is published, which is currently scheduled for Thursday, October 26, 2017.

For more information, please contact:

Cadence Investor Relations
408-944-7100
investor_relations@cadence.com

Cadence Newsroom
408-944-7039
newsroom@cadence.com

Cadence Design Systems, Inc.
Condensed Consolidated Balance Sheets
July 1, 2017 and December 31, 2016
(In thousands)
(Unaudited)

			July 1, 2017	December 31, 2016

Current assets:
	Cash and cash equivalents		$ 655,998	$ 465,232
	Short-term investments		3,229	3,057
	Receivables, net		153,154	157,171
	Inventories		31,894	39,475
	Prepaid expenses and other		39,175	37,099
		Total current assets	883,450	702,034

Property, plant and equipment, net of accumulated
	depreciation of $634,418 and $612,961, respectively		249,140	238,607
Goodwill			575,025	572,764
Acquired intangibles, net of accumulated amortization of
	$269,859 and $267,723, respectively		229,783	258,814
Long-term receivables			13,340	12,949
Other assets			316,961	311,740
Total assets			$ 2,267,699	$ 2,096,908

Current liabilities:
	Revolving credit facility		$ -	$ 50,000
	Accounts payable and accrued liabilities		222,216	239,496
	Current portion of deferred revenue		322,509	296,066
		Total current liabilities	544,725	585,562

Long-term liabilities:
	Long-term portion of deferred revenue		60,158	66,769
	Long-term debt		643,927	643,493
	Other long-term liabilities		67,096	59,314
		Total long-term liabilities	771,181	769,576

Stockholders' equity			951,793	741,770
Total liabilities and stockholders' equity			$ 2,267,699	$ 2,096,908

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