Cadence Design Systems, Inc. | ||||||||||||
Condensed Consolidated Income Statements | ||||||||||||
For the Three Months and Years Ended January 2, 2016 and January 3, 2015 | ||||||||||||
(In thousands, except per share amounts) | ||||||||||||
(Unaudited) | ||||||||||||
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Three Months Ended |
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Years Ended | ||||||
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January 2, 2016 |
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January 3, 2015 |
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January 2, 2016 |
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January 3, 2015 | ||
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Revenue: |
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Product and maintenance |
$ 413,489 |
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$ 393,223 |
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$ 1,578,944 |
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$ 1,479,151 | ||||
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Services |
27,590 |
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29,875 |
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123,147 |
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101,781 | ||||
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Total revenue |
441,079 |
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423,098 |
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1,702,091 |
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1,580,932 | |||
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Costs and expenses: |
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Cost of product and maintenance |
40,679 |
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39,475 |
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155,659 |
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156,333 | ||||
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Cost of services |
20,223 |
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18,640 |
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82,794 |
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67,373 | ||||
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Marketing and sales |
103,552 |
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102,367 |
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402,432 |
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399,688 | ||||
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Research and development |
161,970 |
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155,124 |
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637,567 |
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603,006 | ||||
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General and administrative |
26,789 |
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26,939 |
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109,982 |
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113,619 | ||||
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Amortization of acquired intangibles |
5,679 |
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6,912 |
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23,716 |
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24,017 | ||||
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Restructuring and other charges (credits) |
347 |
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(1,145) |
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4,511 |
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10,252 | ||||
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Total costs and expenses |
359,239 |
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348,312 |
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1,416,661 |
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1,374,288 | |||
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Income from operations |
81,840 |
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74,786 |
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285,430 |
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206,644 | ||
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Interest expense |
(4,200) |
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(11,961) |
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(28,311) |
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(34,121) | ||||
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Other income, net |
2,510 |
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3,879 |
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10,477 |
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8,479 | ||||
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Income before provision (benefit) for income taxes |
80,150 |
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66,704 |
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267,596 |
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181,002 | ||
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Provision (benefit) for income taxes |
(224) |
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1,674 |
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15,179 |
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22,104 | ||||
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Net income |
$ 80,374 |
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$ 65,030 |
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$ 252,417 |
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$ 158,898 | ||
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Net income per share - basic |
$ 0.27 |
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$ 0.23 |
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$ 0.88 |
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$ 0.56 | |||||
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Net income per share - diluted |
$ 0.26 |
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$ 0.21 |
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$ 0.81 |
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$ 0.52 | |||||
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Weighted average common shares outstanding - basic |
297,433 |
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283,928 |
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288,018 |
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283,349 | |||||
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Weighted average common shares outstanding - diluted |
310,512 |
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310,273 |
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312,302 |
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306,775 |