RTTNews | Oct 19, 2020 04:22PM EDT

16:21 Monday, October 19, 2020 (RTTNews.com) - Cadence Design Systems (CDNS) reported a profit for its third quarter that increased from last year.

The company's bottom line came in at $161.63 million, or $0.58 per share. This compares with $101.51 million, or $0.36 per share, in last year's third quarter.

Excluding items, Cadence Design Systems reported adjusted earnings of $197.05 million or $0.70 per share for the period.

Analysts had expected the company to earn $0.61 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 15.0% to $666.61 million from $579.60 million last year.

Cadence Design Systems earnings at a glance:

-Earnings (Q3): $197.05 Mln. vs. $152.74 Mln. last year.-EPS (Q3): $0.70 vs. $0.54 last year.-Analysts Estimate: $0.61-Revenue (Q3): $666.61 Mln vs. $579.60 Mln last year.

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