NEW YORK (Thomson Financial) - Cadence Design Systems Inc. late Wednesday
said fourth-quarter adjusted income rose to $133 million, or 46 cents a share,
from $115.8 million, or 38 cents a share, in the same period last year. Earnings
were in-line with the mean estimate of analysts polled by Thomson Financial.
Fourth-quarter sales increased 6% to $457.9 million from $431 million in
last year's comparable period, missing analysts' consensus view for sales of
$470 million.
The electronic design company provided first-quarter guidance for adjusted
earnings between 3 cents and 5 cents a share and for sales between $280 million
and $290 million.
In fiscal 2008, it anticipates adjusted earnings between $1.11 and $1.19 a
share and sales of between $1.49 billion and $1.54 billion.
Shares of the San Jose, Calif.-based company closed the regular session at
$15.16.
Melinda Peer
mp/gm
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