CDNS Earnings Release

Cadence Design beats by $0.02, reports revs in-line; guides Q2 EPS in-line, revs in-line; guides FY09 EPS in-line, revs in-line (CDNS) 4.81 +0.20 : Reports Q1 (Mar) loss of $0.10 per share, excluding non-recurring items, $0.02 better than the First Call consensus of ($0.12); revenues fell 23.8% year/year to $206.3 mln vs the $204.7 mln consensus. Co issues in-line guidance for Q2, sees EPS of ($0.09)-(0.07), excluding non-recurring items, vs. ($0.09) consensus; sees Q2 revs of $205-215 mln vs. $208.50 mln consensus. Co issues in-line guidance for FY09, sees EPS of ($0.33)-(0.21), excluding non-recurring items, vs. ($0.31) consensus; sees FY09 revs of $830-870 mln vs. $851.27 mln consensus.