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Cadence with USD 339 million in revenue
Cadence reported third quarter 2012 revenue of USD 339 million, compared to revenue of USD 292 million reported for the same period in 2011.
On a GAAP basis, Cadence recognized net income of $59 million, or $0.21 per share on a diluted basis, including $15 million in acquisition-related income tax benefit, in the third quarter of 2012, compared to net income of $28 million, or $0.10 per share on a diluted basis in the same period in 2011. Using Cadence's non-GAAP measure, net income in the third quarter of 2012 was $59 million, or $0.21 per share on a diluted basis, as compared to net income of $37 million, or $0.14 per share on a diluted basis, in the same period in 2011. "Demand for our technology was strong across the board in Q3, with ongoing strength in emulation and increasing demand for verification solutions," said Lip-Bu Tan, president and chief executive officer. "We continue to extend our technology leadership at advanced nodes and expand our design and verification IP business." "Results for all key operating metrics exceeded expectations for Q3 as the entire Cadence team continues to execute," added Geoff Ribar, senior vice president and chief financial officer. Business Outlook For the fourth quarter of 2012, the company expects total revenue in the range of $335 million to $345 million. Fourth quarter GAAP net income per diluted share is expected to be in the range of $0.13 to $0.15. Net income per diluted share using the non-GAAP measure defined below is expected to be in the range of $0.18 to $0.20. For 2012, the company expects total revenue in the range of $1,315 million to $1,325 million. On a GAAP basis, net income per diluted share for 2012 is expected to be in the range of $0.58 to $0.60. Using the non-GAAP measure defined below, net income per diluted share for 2012 is expected to be in the range of $0.75 to $0.77.
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