Boston, MA 04/28/2014 (wallstreetpr) – Cadence Design Systems Inc (NASDAQ:CDNS) is expecting a total revenue for the second quarter of this financial year to be in the range of $370-$380 million and the total revenue for this entire financial year to be in the range of $1.55-$1.59 billion. The Earning per share is expected to be $0.61. The GAAP net income per diluted share is likely to be in the range of $0.55 to $0.65 in this financial year while the non-GAAP net income per diluted share for the same period is expected to be in the range of $0.92 to $1.02.
Acquisitions
Cadence Design Systems Inc. (NASDAQ:CDNS) has entered into a contract to takeover Jasper Design Automation, Inc., for a cash consideration of nearly $170 million. Jasper provides formal analysis solutions. The deal is expected to give a fillip to the business of Cadence in terms of heightened technical expertise and greater market share.
Cadence Design Systems Inc. has acquired another company Forte Design Systems which provides arithmetic IP and System C based high-level synthesis (HLS)
Key developments
Cadence Design Systems Inc. (NASDAQ:CDNS) introduced the Tensilica Imaging & Video Processor Enhanced Performance (IVP-EP) core, which is the latest and most advanced imaging and video data plane processor in its IVP product line. This technique can be used for greatly complex signal processing functions. This has given a great boost to the business of Cadence.
Microsoft has utilized four Tensilica processors in its Xbox One audio subsystem.
Legal settlements
3D Design Solutions LLC, a subsidiary of Acacia Research Corp, has settled the litigation with Cadence Design Systems, Inc.
Berkeley Design Automation, Inc. (BDA) and Cadence Design Systems Inc. (NASDAQ:CDNS) have reached a settlement agreement in a case filed by Cadence against BDA last year for an undisclosed amount. As part of the deal, BDA and Cadence have signed a long term agreement to support interoperability between Cadence’s Virtuoso Analog Design Environment (ADE) and BDA’s Analog FastSPICE (AFS) Simulator through Cadence’s OASIS interface.
