PARIS — EDA vendor Cadence Design Systems Inc. (San Jose, Calif.) reported a net income of $2 million, based on generally accepted accounting principles (GAAP), for the fourth quarter of 2009, compared to a net loss of $1.63 billion a year ago.
The net loss for fiscal year 2009 was $150 million, or minus $0.58 per share, compared to a net loss of $1.86 billion, or minus $7.30 per share for fiscal year 2008.
Cadence posted fourth quarter revenue of $220 million, in line with the guided range of $215 million to $225 million that the company provided in October. Still, revenue decreased from $1.04 billion in fiscal year 2008 to $853 million for fiscal year 2009.
"In 2009, we significantly improved operating efficiency while strategically redeploying resources," stated Kevin S. Palatnik, senior vice president and chief financial officer, adding, "I believe that with continued strong focus on execution, we will expand our position with customers, grow the top line and improve profitability over time."
Looking ahead, Cadence said it expects to post first-quarter revenue of between $210 million to $220 million. The company also anticipates a GAAP net loss per share of $0.10 to $0.8, and a non-GAAP net income of $0.00 to $0.02 per share.
For full year 2010, Cadence said it predicts sales between $865 million to $900 million. On a GAAP basis, net loss per diluted share for the year is expected to be in the range of $0.29 to $0.19. On a non-GAAP basis, net income is expected to be in the range of $0.05 to $0.15.
