Prior to the start of the Quiet Period (described below), the public may continue to rely on the business outlook contained herein as still being Cadence's current expectations on matters covered unless Cadence publishes a notice stating otherwise.
Beginning December 15, 2017, Cadence will observe a Quiet Period during which the business outlook as provided in this press release and the most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q no longer constitute the company's current expectations. During the Quiet Period, the business outlook in these documents should be considered historical, speaking as of prior to the Quiet Period only and not subject to any update by the company. During the Quiet Period, Cadence's representatives will not comment on Cadence's business outlook, financial results or expectations. The Quiet Period will extend until Cadence's fourth quarter 2017 earnings release is published, which is currently scheduled for January 31, 2018.
For more information, please contact:
Cadence Investor Relations
Alan Lindstrom
408-428-5020
alind@cadence.com
Cadence Newsroom
408-944-7039
newsroom@cadence.com
|
Cadence Design Systems, Inc. | |||||||
|
Condensed Consolidated Balance Sheets | |||||||
|
September 30, 2017 and December 31, 2016 | |||||||
|
(In thousands) | |||||||
|
(Unaudited) | |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2017 |
|
December 31, 2016 |
|
|
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
| |||
|
|
Cash and cash equivalents |
|
$ 678,284 |
|
$ 465,232 | ||
|
|
Short-term investments |
|
4,135 |
|
3,057 | ||
|
|
Receivables, net |
|
170,312 |
|
157,171 | ||
|
|
Inventories |
|
36,000 |
|
39,475 | ||
|
|
Prepaid expenses and other |
|
42,374 |
|
37,099 | ||
|
|
|
Total current assets |
|
931,105 |
|
702,034 | |
|
|
|
|
|
|
|
|
|
|
Property, plant and equipment, net of accumulated |
|
|
|
| |||
|
|
depreciation of $648,298 and $612,961, respectively |
|
244,620 |
|
238,607 | ||
|
Goodwill |
|
574,912 |
|
572,764 | |||
|
Acquired intangibles, net of accumulated amortization of |
|
|
|
| |||
|
|
$283,632 and $267,723, respectively |
|
216,177 |
|
258,814 | ||
|
Long-term receivables |
|
11,590 |
|
12,949 | |||
|
Other assets |
|
326,823 |
|
311,740 | |||
|
Total assets |
|
$ 2,305,227 |
|
$ 2,096,908 | |||
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
| |||
|
|
Revolving credit facility |
|
$ - |
|
$ 50,000 | ||
|
|
Accounts payable and accrued liabilities |
|
199,672 |
|
239,496 | ||
|
|
Current portion of deferred revenue |
|
320,462 |
|
296,066 | ||
|
|
|
Total current liabilities |
|
520,134 |
|
585,562 | |
|
|
|
|
|
|
|
|
|
|
Long-term liabilities: |
|
|
|
| |||
|
|
Long-term portion of deferred revenue |
|
57,865 |
|
66,769 | ||
|
|
Long-term debt |
|
644,146 |
|
643,493 | ||
|
|
Other long-term liabilities |
|
72,342 |
|
59,314 | ||
|
|
|
Total long-term liabilities |
|
774,353 |
|
769,576 | |
|
|
|
|
|
|
|
|
|
|
Stockholders' equity |
|
1,010,740 |
|
741,770 | |||
|
Total liabilities and stockholders' equity |
|
$ 2,305,227 |
|
$ 2,096,908 | |||
