Cadence Shrs Rise As Q1 Revs Top Ests; ‘08 View Beats
Cadence Design Systems (CDNS) shares are modestly higher in after hours trading after the company reported Q1 revenue of $287 million, ahead of the Street estimate of $284.3 million. Non-GAAP profits of 4 cents a share were in line with expectations.
Cadence sees Q2 revenue of $310 million to $320 million, with non-GAAP profits of 13-15 cents; the Street had expected $312.6 million and 15 cents.
For the year, Cadence sees revenue of $1.49 billion to $1.54 billion, with non-GAAP profits of $1.14 to $1.22 a share. The Street had expected the EDA software provider to report $1.5 billion and $1.12 a share.
In after hours trading, CDNS is up 26 cents, or 2.3%, to $11.50; the stock was up 31 cents in the regular session.
Sorry impossible, Caddy can not do the numbers they are claiming.
first q loss is .07 cents and they offer guidance of .02 cents next q.
Wednesday reported a first quarter loss of $19 million, or 7 cents a share, compared to net income in the same period last year of $44 million, or 15 cents a share.
IMHO, they are misleading their shareholders in order for insiders to unload.
Tech Trader Daily is a blog on technology investing written from Palo Alto, California by long-time Barron's West Coast Editor Eric J. Savitz. The blog provides news, analysis and original reporting on events important to investors in software, hardware, the Internet, telecommunications and related fields.
