Stock Monitor: Cheetah Mobile Post Earnings Reporting

LONDON, UK / ACCESSWIRE / November 29, 2017 / Active-Investors free earnings report on Cadence Design Systems, Inc. (NASDAQ: CDNS) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=CDNS. The Company posted its financial results on October 26, 2017, for the third quarter fiscal 2017. The maker of hardware and software products' revenue and adjusted EPS surpassed analysts' expectations. Register today and get free access to our complimentary member's area where many more reports are available:

www.active-investors.com/registration-sg

Active-Investors.com is currently working on the research report for Cheetah Mobile Inc. (NYSE: CMCM), which also belongs to the Technology sector as the Company Cadence Design Systems. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=CMCM

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Cadence Design Systems most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:

www.active-investors.com/registration-sg/?symbol=CDNS

Earnings Highlights and Summary

For three months ended September 30, 2017, Cadence Design's total revenue increased 8.8% to $485.40 million from $446.22 million in Q3 FY16. Total revenue surpassed analysts' expectations of $482.4 million.

For the reported quarter, the Company's product and maintenance revenue increased 8.6% to $451.23 million from $415.37 million in Q3 FY16. During Q3 FY17, the Company's services revenue increased 10.8% to $34.17 million from $30.85 million in the same period last year.

During Q3 FY17, Cadence Design's gross profit increased 10.6% to $430.92 million, from $389.61 million in the same period last year. For the reported quarter, the Company's gross margin increased 150 basis points to 88.8% of revenue from 87.3% of revenue in Q3 FY16.

For the reported quarter, Cadence Design's marketing and sales expenses increased 7.7% to $104.26 million from $96.79 million in Q3 FY16. During Q3 FY17, the Company's research and development (R&D) expenses increased 7.8% to $206.57 million from $191.55 million in the same period last year. For the reported quarter, the Company's general and administrative (G&A) expenses increased 19.3% to $36.30 million from $30.44 million in the third quarter of 2016.

During Q3 FY17, Cadence Design's operating income increased 20.3% to $80.39 million from $66.84 million in the same period last year. During Q3 FY17, the Company's operating margin increased 200 basis points to 17% of revenue from 15% of revenue in the same period last year. For the reported quarter, the Company's adjusted operating margin increased 200 basis points to 28% of revenue from 26% of revenue in Q3 FY16.

For the reported quarter, Cadence Design's net income increased 25.4% to $81.16 million on a y-o-y basis from $64.71 million in Q3 FY16. During Q3 FY17, the Company's diluted EPS increased 26.1% to $0.29 on a y-o-y basis from $0.23 in the same period last year.

For the reported quarter, Cadence Design's adjusted net income increased 15.8% to $98.20 million on a y-o-y basis from $84.83 million in Q3 FY16. During Q3 FY17, the Company's adjusted diluted EPS increased 16.7% to $0.35 on a y-o-y basis from $0.30 in the same period last year. Adjusted diluted EPS surpassed analysts' expectations of $0.34.

Balance Sheet

As on September 30, 2017, Cadence Design's cash and cash equivalents increased 45.8% to $678.28 million from $465.23 million on December 31, 2016. For the reported quarter, the Company's long-term debt increased 0.1% to $644.15 million from $643.49 million in Q4 FY16.

For the reported quarter, the Company's net receivables increased 8.4% to $170.31 million from $157.17 million in the fourth quarter of 2016. For the reported quarter, the Company's accounts payables and accrued liabilities decreased 16.6% to $199.67 million from $239.50 million in Q4 FY16.

During FY17, the Company's YTD cash provided by operating activities increased 38.7% to $343.88 million from $248.02 million in the same period last year.

Outlook

For Q4 FY17, Cadence Design expects revenue to be in the range of $490 million to $500 million and diluted EPS to be in the range of $0.26 to $0.28. The Company estimates adjusted diluted EPS to be in the range of $0.38 to $0.40 for Q4 FY17.

For FY17, the Company expects revenue to be in the range of $1.93 billion to $1.94 billion and diluted EPS to be in the range of $1.04 to $1.06. The Company estimates adjusted diluted EPS to be in the range of $1.39 to $1.41 for fiscal 2017.

Stock Performance Snapshot

November 28, 2017 - At Tuesday's closing bell, Cadence Design's stock slightly climbed 0.11%, ending the trading session at $45.19.

Volume traded for the day: 1.34 million shares.

Stock performance in the last month ? up 4.90%; previous three-month period ? up 19.20%; past twelve-month period ? up 70.40%; and year-to-date ? up 79.18%

After yesterday's close, Cadence Design's market cap was at $12.59 billion.

Price to Earnings (P/E) ratio was at 49.17.

The stock is part of the Technology sector, categorized under the Application Software industry. This sector was up 0.2% at the end of the session.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visithttp://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com

Phone number: 73 29 92 6381

Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors