Cadence Design Systems (Nasdaq: CDNS) reported earnings on April 24. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 30 (Q1), Cadence Design Systems beat slightly on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share expanded significantly. GAAP earnings per share grew significantly.

Margins grew across the board.

Revenue details
 Cadence Design Systems logged revenue of $354.3 million. The eight analysts polled by S&P Capital IQ wanted to see net sales of $348.5 million on the same basis. GAAP reported sales were 12% higher than the prior-year quarter's $315.8 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $0.21. The eight earnings estimates compiled by S&P Capital IQ predicted $0.20 per share. Non-GAAP EPS of $0.21 for Q1 were 24% higher than the prior-year quarter's $0.17 per share. GAAP EPS of $0.27 for Q1 were 145% higher than the prior-year quarter's $0.11 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 86.4%, 120 basis points better than the prior-year quarter. Operating margin was 16.4%, 210 basis points better than the prior-year quarter. Net margin was 22.2%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $355.9 million. On the bottom line, the average EPS estimate is $0.22.

Next year's average estimate for revenue is $1.44 billion. The average EPS estimate is $0.89.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 172 members out of 215 rating the stock outperform, and 43 members rating it underperform. Among 53 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 49 give Cadence Design Systems a green thumbs-up, and four give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cadence Design Systems is outperform, with an average price target of $16.31.

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