Cadence Design Systems Inc. (NASDAQ:CDNS) Q4 2014 Earnings Conference Call - Final Transcript

Feb 04, 2015 • 05:00 pm ET

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Cadence Design Systems Inc. (NASDAQ:CDNS) Q4 2014 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good afternoon. My name is Dustin and I will be your conference operator today. At this time, I would like to welcome everyone to the Cadence Design Systems' Fourth Quarter and Fiscal Year 2014 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

I will now turn the call over to our host, Alan Lindstrom, Senior Group Director of Investor Relations for Cadence Design Systems. Please go ahead.

Executive
Alan Lindstrom

Thank you, Dustin and welcome to our earnings conference call for the fourth quarter of the fiscal year 2014. The webcast of this call can be accessed through our website, cadence.com, and will be archived through March 20th, 2015. A copy of today's prepared remarks will also be available on our website at the conclusion of today's call. With us today are Lip-Bu Tan, President and CEO; and Geoff Ribar, Senior Vice President and CFO.

Please note that today's discussion will contain forward-looking statements and that our actual results may differ materially from those expectations. For information on the factors that could cause a difference in our results, please refer to our filings with the Securities and Exchange Commission. These include Cadence's most recent reports on Form 10-K and Form 10-Q, including the company's future filings and the cautionary comments regarding forward-looking statements in the earnings press release issued today.

In addition to the financial results prepared in accordance with Generally Accepted Accounting Principles, or GAAP, we will also present certain non-GAAP financial measures today. Cadence management believes that in addition to using GAAP results in evaluating our business, it can also be useful to measure results using certain non-GAAP financial measures. Investors and potential investors are encouraged to review the reconciliation of non-GAAP financial measures with their most direct comparable GAAP financial results, which can be found in the quarterly earnings section of the Investor Relations portion of our website.

A copy of today's press release dated February 4th, 2015 for the quarter ended January 3rd, 2015 and related financial tables can also be found in the Investor Relations portion of our website.

Now, I will turn the call over to Lip-Bu.

Executive
Lip-Bu Tan

Good afternoon, everyone and thank you for joining us. 2014 was an excellent year for Cadence and I am very pleased to have the opportunity to speak with you today about our company. I am thrilled and humbled by the support of our customers and partners who are placing their bets with us by adopting our innovative solutions to design and build products that change the world. We are absolutely committed to their success and will continue to invest in the R&D and support that is critical to meet their needs. Strategy, innovation, customer success and execution are driving strong results for shareholders. And we have great momentum going into 2015.

Guided by our System Design Enablement strategy, we are delivering the technologies necessary for integrated system and SoC design