Cadence Q3 net income up 50%

SAN JOSE: Cadence Design Systems Inc., a supplier of electronic design

products and services, said on Tuesday its third-quarter net income before

certain items rose more than 50 per cent, as the company's software business

posted solid growth.

The San Jose, Calif.-based company reported third-quarter net income, before

certain items, of $56.7 million, or 22 cents per diluted share, compared with

$36.3 million, or 14 cents a year ago.

The consensus estimate among the 12 analysts polled by Thomson

Financial/First Call was earnings of 20 cents per share, with estimates ranging

from 16 cents to 22 cents.

Including all items, the company reported net income of $127.4 million, or 50

cents per diluted share, on $360 million in revenues, compared with $13.7

million, or five cents per share, on revenues of $332.5 million for the same

quarter a year ago.

The company said it expects to report operating margins in the 25 percent

range and sequential revenue growth of five per cent in its fourth quarter. It

expects annual revenues to grow on a percentage basis in the mid-teens in 2002

compared with 2001.

(C) Reuters Limited 2001.