Cadence Reports Third Quarter 2013 Financial Results


* Includes, as applicable, equity in losses or income from investments, write-down of investments, gains or losses on sale of investments and gains or losses on non-qualified deferred compensation plan assets recorded in other income or expense.

Diluted Net Income per Share Reconciliation Three Months Ended
  September 28, 2013 September 29,
2012
(in thousands, except per share data) (unaudited)
Diluted net income per share on a GAAP basis $0.13 $0.21
Amortization and sale of acquired intangibles 0.04 0.03
Stock-based compensation expense 0.06 0.04
Non-qualified deferred compensation expenses (credits) - -
Restructuring and other charges - -
Integration and acquisition-related costs 0.03 0.01
Executive severance costs - -
Amortization of debt discount 0.02 0.02
Other income or expense related to investments and non-qualified deferred compensation plan assets* -
Acquisition-related income tax benefit  - (0.05)
Income tax effect of non-GAAP adjustments (0.07) (0.05)
Diluted net income per share on a non-GAAP basis $0.21 $0.21
Shares used in calculation of diluted net income per share —GAAP** 296,958 283,328
Shares used in calculation of diluted net income per share —non-GAAP** 296,958 283,328


* Includes, as applicable, equity in losses or income from investments, write-down of investments, gains or losses on sale of investments and gains or losses on non-qualified deferred compensation plan assets recorded in other income or expense. 

** Shares used in the calculation of GAAP net income per share are expected to be the same as shares used in the calculation of non-GAAP net income per share, except when the company reports a GAAP net loss and non-GAAP net income, or GAAP net income and a non-GAAP net loss. 

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 December 13, 2013, Cadence will observe a Quiet Period during which the business outlook as provided in this press release and the company’s 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 to be 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 fourth quarter and fiscal year 2013 earnings release is published, which is currently scheduled for January 29, 2014. 

For more information, please contact:
Investors and Shareholders 
Alan Lindstrom 
Cadence Design Systems, Inc. 
408-944-7100 
Email Contact

Media and Industry Analysts 
Anna del Rosario 
Cadence Design Systems, Inc. 
408-914-6884 
Email Contact


Cadence, the Cadence logo, Palladium and Spectre are trademarks or registered trademarks of Cadence Design Systems, Inc. All other trademarks are the property of their respective owners.



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