Cadence und Bluetooth

Cadence wird wohl eine der Firmen sein die von Bluetooth provitieren wird.
Wen es interessiert kann sich den Bericht ja durchlesen.



Cadence Announces Second Quarter 2000 Results
Product Revenue Grew 19 Percent
SAN JOSE, CA — July 18, 2000 — Cadence Design Systems, Inc. (NYSE: CDN), the world`s leading supplier of electronic design products and services, today announced second quarter revenues of $299 million and $0.08 diluted earnings per share. In the second quarter, Cadence® booked 41 percent of its software products under the subscription model, exceeding its goal of 30 percent. For comparative purposes, except where noted, the results discussed throughout this release reflect earnings before unusual items and amortization of acquired intangibles.Click here for the Consolidated Statements of Operations and Consolodated Balance Sheet.



The $299 million in second-quarter revenue represents a 13 percent increase over the comparable quarter in 1999. Also, product revenue for the second quarter of 2000 totaled $140 million, a 19 percent increase over the second quarter of last year. Total services revenue was $80 million, a seven percent increase over the second quarter of 1999, with overall gross margin at 35 percent. Including amortization of acquired intangibles of $20 million, the company reported diluted earnings per share of $0.02 for the second quarter. "I am very happy to say that in the second quarter we built on the positive momentum we experienced in Q1," said Ray Bingham, president and CEO of Cadence. "Fueling that momentum are three things: strong growth in fast-growing end markets such as communications; Cadence`s technology and market presence in areas that serve these growing segments; and focused execution of our strategy."

Strategic Moves
Among the achievements noted in the second quarter was the announcement of a new business alliance with Hewlett-Packard in which the companies will jointly develop, market and sell new solutions for the electronic design automation (EDA) market. The combined research and development power of these two market leaders will provide EDA customers worldwide with enhanced quality solutions for electronic designs.

The company also announced plans to launch its Design Services business as a separate company. The new company, named Tality Corporation, has filed a registration statement with the Securities and Exchange Commission for an initial public offering (IPO) of its Class A Common Stock. Following the offering, Cadence will continue to own more than 80 percent of Tality. This action is intended to bring greater strategic focus to the new design services company, while continuing to leverage Cadence`s ability to deliver complete design solutions to customers including EDA tools, methodology services and design services.

Product and Technology Acceptance
In terms of products and technology, Cadence continued to see strength in the SP&R (synthesis/place and route) market. Philips Semiconductors announced that it had qualified SP&R into its design environment for immediate use. Hewlett-Packard also has purchased Envisia™PKS (physically knowledgeable synthesis) and Silicon Ensemble™ PKS (SE-PKS) as part of its new alliance with Cadence. Additionally, the company shipped orders to 10 new PKS and SE-PKS customers in the second quarter. To date, Cadence has a total of 26 new SP&R customers, several repeat customers, and more than 60 seats of SP&R sold. Lastly, Cadence`s PKS technology earned the "Innovation of the Year" award from EDN Magazine, selected among a field of hundreds of candidates.

Cadence`s Cierto™ virtual component co-design (VCC), a systems-level design product also introduced in the first quarter, was included by NEC in its system-on-a-chip design suite. Also, Cierto VCC was awarded "Product of the Year" by the prestigious French magazine Electronique.

In the Functional Verification market, where customers need increasingly more simulation power, our market opportunity expanded with our achievement of sign-offs by ST Microelectronics for mixed-language, NEC for NC-Verilog and Si2 certification for NC-VHDL. Achieving sign-off status makes it more attractive for customers of these companies to use our functional verification solutions.

Cadence recorded strong growth over the first quarter in the printed circuit board space. Demand was particularly strong for Allegro, a PCB design tool, and SPECTRAQuest, which is used for high-speed interconnect design.

This release contains forward-looking statements based on current expectations or beliefs, as well as a number of assumptions about future events that are subject to factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements, which are not a guarantee of future performance and are subject to a number of uncertainties and other factors, many of which are outside the control of Cadence, including among others:

Cadence`s ability to compete successfully in the design automation product and the commercial electronic design and methodology services industries; the mix of products and services sold and the timing of significant orders for its products; recent economic uncertainty; fluctuations in rates of exchange between the U.S. dollar and the currencies of other countries; and the acquisition of other companies or the failure to successfully integrate them. For a detailed discussion of these and other cautionary statements, please refer to the Company`s filings with the Securities and Exchange Commission. These include the Company`s Annual Report on Form 10-K for the year ended January 1, 2000 and the Company`s Quarterly Report on Form 10-Q for the quarter ended April 1, 2000.

About Cadence
Cadence is the largest supplier of electronic design automation products, methodology services, and design services used to accelerate and manage the design of semiconductors, computer systems, networking and telecommunications equipment, consumer electronics, and a variety of other electronics-based products. With approximately 5,000 employees and 1999 annual revenue of $1.1 billion, Cadence has sales offices, design centers, and research facilities located around the world. The company is headquartered in San Jose, Calif., and traded on the New York Stock Exchange under the symbol CDN. For more information, visit http://www.cadence.com.

For more information, please contact:

Investors and Shareholders:
Lisa Ewbank
Cadence Design Systems, Inc.
408-944-7100
investor_relations@cadence.com


Media and Industry Analysts:
Kevin Kimball
Cadence Design Systems, Inc.
408-944-7515
kkimball@cadence.com


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