Cadence takes Q1 loss. (Sees Gain in Market Share).SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. -- Cadence Design Systems (company) Cadence Design Systems - A company that sells electronic design automation software and services. http://cadence.com/. See also Verilog. Inc. (cadence cadence, in music, the ending of a phrase or composition. In singing the voice may be raised or lowered, or the singer may execute elaborate variations within the key. .com) reported first-quarter revenue of $256 million, down 25% from a year ago. Cadence took a net loss of $19.1 million, down from a $21.4 million profit last year. "We executed against our targets in one of the toughest business climates on record and within the guidance we presented last quarter," said Cadence president and chief executive Ray Bingham in a statement. Subscription licenses made up 82% of software product bookings. The company also said it continues to see adoption of its Encounter platform for digital IC design and early market acceptance of its Incisive incisive /in·ci·sive/ (-si´siv) 1. having the power or quality of cutting. 2. pertaining to the incisor teeth. in·ci·sive adj. 1. Having the power to cut. verification platform. Thanks to the latter, Cadence set sales records for emulation products. "Our platform approach and our solutions, which address both digital and analog design, are enabling us to take share," said Bingham. "We continue to grow and acquire technologies that will give customers a clear path beyond legacy tools." Separately, Bingham rejected rumors that he may step down from the company. "They simply are not true," Dow Jones Dow Jones the best known of several U.S. indexes of movements in price on Wall Street. [Am. Hist.: Payton, 202] See : Finance reported the executive as saying. Cadence guided for second quarter revenue of $265 million to $275 million. Subscriptions are expected to make up 80 to 90% of software product bookings. On a conference call with analysts and investors, Bingham said the EDA (1) (Electronic Design Automation) Using the computer to design, lay out, verify and simulate the performance of electronic circuits on a chip or printed circuit board. industry is in line for a second-straight year of falling revenues. |
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