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Cadence Design Systems, Inc. | |||||||
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Condensed Consolidated Income Statements | |||||||
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For the Three Months Ended March 29, 2014 and March 30, 2013 | |||||||
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(In thousands, except per share amounts) | |||||||
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(Unaudited) | |||||||
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Three Months Ended | ||
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March 29,
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March 30,
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Revenue: |
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Product and maintenance |
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$ 357,350 |
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$ 328,271 | ||
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Services |
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21,200 |
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25,995 | ||
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Total revenue |
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378,550 |
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354,266 | |
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Costs and expenses: |
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Cost of product and maintenance |
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42,197 |
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29,847 | ||
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Cost of services |
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14,902 |
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18,344 | ||
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Marketing and sales |
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98,323 |
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90,402 | ||
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Research and development |
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146,466 |
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124,084 | ||
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General and administrative |
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28,744 |
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29,810 | ||
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Amortization of acquired intangibles |
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5,210 |
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3,791 | ||
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Restructuring and other charges (credits) |
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396 |
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(148) | ||
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Total costs and expenses |
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336,238 |
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296,130 | |
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Income from operations |
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42,312 |
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58,136 |
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Interest expense |
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(7,268) |
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(9,262) | ||
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Other income, net |
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3,382 |
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2,175 | ||
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Income before provision (benefit) for income taxes |
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38,426 |
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51,049 |
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Provision (benefit) for income taxes |
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5,356 |
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(27,560) | ||
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Net income |
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$ 33,070 |
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$ 78,609 |
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Net income per share - basic |
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$ 0.12 |
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$ 0.29 | |||
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Net income per share - diluted |
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$ 0.11 |
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$ 0.27 | |||
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Weighted average common shares outstanding - basic |
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281,615 |
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274,936 | |||
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Weighted average common shares outstanding - diluted |
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301,034 |
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292,151 | |||
