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CADENCE DESIGN SYSTEMS REPORTS 4TH QUARTER RESULTS

 CADENCE DESIGN SYSTEMS REPORTS 4TH QUARTER RESULTS
 SAN JOSE, Calif., Jan. 28 /PRNewswire/ -- Cadence Design Systems


Inc. (NYSE: CDN) today reported operating results for the fourth quarter ended Dec. 31, 1991.
 As previously announced, during December the merger with Valid Logic Systems Incorporated was completed. The transaction was accounted for as a pooling of interests; consequently, all financial information includes the combined operations of Cadence and Valid.
 For the fourth quarter, revenue was $110.4 million, compared with $110.2 million for the same period of the prior year. Net loss for the quarter, was $40.4 million compared with net income of $11.9 million for the same period of 1990. Net loss per share for the quarter was $.97 per share compared with net income of $.27 per share for the same period of the prior year. However, results for the quarter include merger and restructuring costs of $51.6 million or an EPS impact of $1.19 per share as a result of the merger with Valid Logic Systems Incorporated.
 For the year ended Dec. 31, 1991 revenue was $392.3 million up slightly over the $390.0 million for the prior year. Net loss for the year was $21.7 million for the year compared with net loss of $6.1 million for the prior year. Net loss per share for the year was $.56 compared with a net loss of $.18 per share for the prior year.
 Cadence Design Systems Inc., is a leader in the design, development and marketing of software solutions for the design of integrated circuits and electronic systems. Cadence operates throughout the United States, Europe and Far East. Cadence is headquartered in San Jose.
 CADENCE DESIGN SYSTEMS INC.
 Condensed Consolidated Statements of Income
 (In 000's, except per share amounts -- Unaudited)
 Periods ended Three Months Twelve Months
 Dec. 31; 1991 1990 1991 1990
 Revenue $110,399 $110,182 $392,256 $389,972
 Operating income
 before restructuring
 costs(1)(2) 12,385 15,959 35,896 48,769
 Operating
 income (loss) (37,516) 15,959 (14,005) 10,791
 Income (loss) before
 (3) provision for
 income taxes (37,707) 16,496 (11,502) 12,537
 Provision for
 income taxes 2,685 4,600 10,200 18,589
 Net income (loss) $(40,392) $11,896 $(21,702) $(6,052)
 Net income (loss) per
 common share $(.97) $.27 $(.56) $(.18)
 Number of shares used
 in the computation 41,848 42,147 41,355 39,808
 (1) -- Year-to-date and fourth quarter amounts for 1991 excludes $49,901 of restructuring costs related to the Cadence/Valid merger.
 (2) -- Year-to-date 1990 excludes $37,978 of restructuring costs related to Valid's decision to exit the hardware distribution business.
 (3) -- Year-to-date and fourth quarter amounts include a pre-tax charge of $1,660 for merger costs related to the merger of Cadence Design Systems, Inc. and Valid Logic Systems Incorporated that occurred in the fourth quarter of 1991.
 -0- 1/28/92
 /CONTACT: Leonard J. LeBlanc of Cadence Design Systems, 408-943-1234, ext. 7345/
 (CDN) CO: Cadence Design Systems Inc. ST: California IN: CPR SU: ERN


JT -- NY094 -- 4443 01/28/92 17:16 EST
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Date:Jan 28, 1992
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