Cadence Design Systems (CDNS) FY2013 results: revenue $1.5 billion, up 10.1% on the year
Cadence Design Systems Inc. (CDNS) reported revenue of $1.5 billion for fiscal 2013, the year ended 28 December 2013, up 10.1% on the year before. Net income was $164 million, down 62.7%, and diluted earnings per share $0.56. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2014.
Revenue
$1.5 billion
+10.1% on the year
FY2008FY2013
Operating margin
12.9%
16.0% a year earlier
FY2008FY2013
Net income
$164 million
-62.7% on the year
FY2008FY2013
Diluted EPS
$0.56
-64.3% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
1,460
1,326
1,150
+10.1%
Cost of revenue
n/a
73.4
69.7
Gross profit
n/a
1,253
1,080
Gross margin
n/a
94.5%
93.9%
Operating income
189
212
120
-10.7%
Operating margin
12.9%
16.0%
10.5%
Interest expense
37.6
34.7
43.0
+8.2%
Pre-tax income
159
188
95.4
-15.5%
Income tax
-5.2
-252
23.2
Effective tax rate
-3.3%
-133.7%
24.3%
Net income
164
440
72.2
-62.7%
Net margin
11.2%
33.2%
6.3%
Diluted EPS
$0.56
$1.57
$0.27
-64.3%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
368
316
240
+16.3%
Capital expenditure
44.9
36.0
31.4
+24.9%
Free cash flow
323
280
209
+15.2%
Free cash flow margin
22.1%
21.1%
18.2%
Cash from investing
-427
-201
-56.5
Cash from financing
-116
15.8
-145
Depreciation and amortisation
98.3
89.2
91.6
+10.2%
Share-based compensation
66.3
47.6
43.6
+39.4%
Buybacks
0.0
0.0
0.0
Diluted shares, weighted
295m
281m
271m
+5.0%
Shares outstanding at period end
288m
281m
273m
+2.7%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,156
915
411
+26.3%
Debt
325
447
426
-27.3%
Other liabilities
948
925
924
+2.5%
Total liabilities and equity
2,429
2,287
1,761
+6.2%
Fixed assets
239
244
263
-2.3%
Goodwill
457
233
192
+95.9%
Intangible assets
312
185
173
+68.5%
Investments
96.8
101
3.0
-3.9%
Cash and equivalents
536
726
602
-26.2%
Receivables
108
97.8
137
+10.0%
Inventory
50.2
36.2
43.2
+38.9%
Other assets
630
663
349
-5.0%
Total assets
2,429
2,287
1,761
+6.2%
10-K for the year ended 28 December 2013, filed 20 February 2014: the filing.