Cadence reported fourth quarter 2010 revenue of $249 million, compared to revenue of $220 million reported for the same period in 2009. On a GAAP basis, Cadence recognized a net loss of $21 million, in the fourth quarter of 2010, compared to a net income of $2 million, in the same period in 2009.
Revenue for fiscal year 2010 totaled $936 million, compared to revenue of $853 million in fiscal year 2009. Net income for fiscal year 2010 was $142 million, compared to a net loss of $150 million for fiscal year 2009.
The GAAP net income for fiscal year 2010 included a $148 million income tax benefit related to the settlement of an Internal Revenue Service examination of Cadence’s federal income tax returns for the tax years 2000 through 2002 and a $67 million acquisition-related income tax benefit.
