Cadence Design Systems (CDNS) FY2014 results: revenue $1.6 billion, up 8.3% on the year
Cadence Design Systems Inc. (CDNS) reported revenue of $1.6 billion for fiscal 2014, the year ended 3 January 2015, up 8.3% on the year before. Net income was $159 million, down 3.3%, and diluted earnings per share $0.52. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2015.
Revenue
$1.6 billion
+8.3% on the year
FY2008FY2014
Operating margin
13.1%
12.9% a year earlier
FY2008FY2014
Net income
$159 million
-3.3% on the year
FY2008FY2014
Diluted EPS
$0.52
-7.1% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
1,581
1,460
1,326
+8.3%
Cost of revenue
n/a
n/a
73.4
Gross profit
n/a
n/a
1,253
Gross margin
n/a
n/a
94.5%
Operating income
207
189
212
+9.3%
Operating margin
13.1%
12.9%
16.0%
Interest expense
34.1
37.6
34.7
-9.2%
Pre-tax income
181
159
188
+13.8%
Income tax
22.1
-5.2
-252
Effective tax rate
12.2%
-3.3%
-133.7%
Net income
159
164
440
-3.3%
Net margin
10.1%
11.2%
33.2%
Diluted EPS
$0.52
$0.56
$1.57
-7.1%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
317
368
316
-13.8%
Capital expenditure
39.8
44.9
36.0
-11.4%
Free cash flow
277
323
280
-14.2%
Free cash flow margin
17.5%
22.1%
21.1%
Cash from investing
-198
-427
-201
Cash from financing
289
-116
15.8
Depreciation and amortisation
116
98.3
89.2
+17.6%
Share-based compensation
83.8
66.3
47.6
+26.4%
Buybacks
100
0.0
0.0
Diluted shares, weighted
307m
295m
281m
+4.1%
Shares outstanding at period end
292m
288m
281m
+1.2%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,334
1,156
915
+15.4%
Debt
691
325
447
+112.8%
Other liabilities
1,185
948
925
+25.0%
Total liabilities and equity
3,210
2,429
2,287
+32.2%
Fixed assets
230
239
244
-3.6%
Goodwill
554
457
233
+21.2%
Intangible assets
361
312
185
+15.8%
Investments
90.4
96.8
101
-6.6%
Cash and equivalents
932
536
726
+73.8%
Receivables
122
108
97.8
+13.8%
Inventory
56.4
50.2
36.2
+12.3%
Other assets
863
630
663
+36.9%
Total assets
3,210
2,429
2,287
+32.2%
10-K for the year ended 3 January 2015, filed 20 February 2015: the filing.