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Cadence Announced Record Revenue In 2014

Wednesday, July 30, 2014  
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Cadence, Inc. announced unaudited revenue results of $33.6 million for the first six months of 2014, a 26% increase in revenue compared to 2013. Net income and earnings per share increased 48% over prior year to $1.49 per share. Earnings before interest, taxes, depreciation and amortization (EBITDA) were up 22% to $6.8 million.

“We have had three record revenue quarters in a row” said Ken Cleveland, CFO. “All of our primary markets - medical device, diagnostics, and industrial are showing good growth so far this year.”

If the current R&D tax credit were to be extended by Congress and reinstated to January 1, 2014, Cadence estimates its earnings per share would be $.14 per share higher in the first six months of the year.

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