Cadence Design Systems Inc (NASDAQ:CDNS) Q3 2019 Earnings Conference Call - Final Transcript

Oct 21, 2019 • 05:00 pm ET

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Cadence Design Systems Inc (NASDAQ:CDNS) Q3 2019 Earnings Conference Call - Final Transcript

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Presentation
Executive
John M. Wall

to $600 million. Non-GAAP operating margin of approximately 30%. GAAP EPS in the range of $0.33 to $0.35. Non-GAAP EPS in the range of $0.52 to $0.54, and we expect to repurchase $75 million of Cadence shares.

As a result, our updated guidance for fiscal 2019 is now as follows. Revenue in the range of $2.327 billion to $2.337 billion. Non-GAAP operating margin of 31.5% to 32%. GAAP EPS in the range of -- in the range of $1.50 to $1.52. Non-GAAP EPS in the range of $2.18 to $2.20. And operating cash flow in the range of $700 million to $740 million.

You will find guidance for additional items as well as further analysis in the CFO Commentary available on our website. In summary, I am pleased with our execution in an uncertain environment. Our strong dependable results reflect the broad diversity of our global customer base. We remain focused on driving growth in our core business, highlighted by the proliferation of our digital full flow, and we continue to invest in growth opportunities with market shaping customers, and new product areas.

In closing, I would like to thank our customers, partners and of course our employees for their continued support.

And with that operator, we'll now take questions.