Cadence Design Systems (CDNS) FY2012 results: revenue $1.3 billion, up 15.4% on the year
Cadence Design Systems Inc. (CDNS) reported revenue of $1.3 billion for fiscal 2012, the year ended 29 December 2012, up 15.4% on the year before. Net income was $440 million, up 509.1%, and diluted earnings per share $1.57. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2013.
Revenue
$1.3 billion
+15.4% on the year
FY2008FY2012
Operating margin
16.0%
10.5% a year earlier
FY2008FY2012
Net income
$440 million
+509.1% on the year
FY2008FY2012
Diluted EPS
$1.57
+481.5% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
1,326
1,150
936
+15.4%
Cost of revenue
73.4
69.7
31.4
+5.4%
Gross profit
1,253
1,080
905
+16.0%
Gross margin
94.5%
93.9%
96.6%
Operating income
212
120
-29.0
+75.8%
Operating margin
16.0%
10.5%
-3.1%
Interest expense
34.7
43.0
36.3
-19.3%
Pre-tax income
188
95.4
-62.8
+97.3%
Income tax
-252
23.2
-189
Effective tax rate
-133.7%
24.3%
n/a
Net income
440
72.2
127
+509.1%
Net margin
33.2%
6.3%
13.5%
Diluted EPS
$1.57
$0.27
$0.48
+481.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
316
240
199
+31.5%
Capital expenditure
36.0
31.4
34.8
+14.5%
Free cash flow
280
209
164
+34.0%
Free cash flow margin
21.1%
18.2%
17.6%
Cash from investing
-201
-56.5
-285
Cash from financing
15.8
-145
59.9
Depreciation and amortisation
89.2
91.6
88.3
-2.7%
Share-based compensation
47.6
43.6
43.5
+9.1%
Buybacks
0.0
0.0
40.0
Diluted shares, weighted
281m
271m
266m
+3.6%
Shares outstanding at period end
281m
273m
267m
+2.9%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
915
411
277
+122.6%
Debt
447
426
550
+4.9%
Other liabilities
925
924
906
+0.1%
Total liabilities and equity
2,287
1,761
1,732
+29.8%
Fixed assets
244
263
285
-6.9%
Goodwill
233
192
159
+21.4%
Intangible assets
185
173
179
+6.8%
Investments
101
3.0
12.7
+3,215.9%
Cash and equivalents
726
602
557
+20.7%
Receivables
97.8
137
192
-28.5%
Inventory
36.2
43.2
39.0
-16.4%
Other assets
663
349
308
+90.2%
Total assets
2,287
1,761
1,732
+29.8%
10-K for the year ended 29 December 2012, filed 21 February 2013: the filing.