In addition to 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 the 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 April 25, 2012, for the quarter ended December 31, 2011 and related financial tables can also be found in the Investor Relations portion of our website.
Now I'll turn the call over to Lip-Bu.
Lip-Bu TanbGood afternoon everyone and thank you for joining us. Cadence is off to a good start for 2012 for both software and hardware exceeding expectation for Q1. The quarter included two major renewal in North America and Japan.For Q1 revenue totaled $316 million. Non-GAAP operating margin was 21%, and we generated $61 million of operating cash flow. Based on Q1 results and our visibility into the rest of 2012, we are updating our outlook. Geoff will present the details in a few minutes.Let us look at the few of the highlights for Q1. I will start with silicon realization. We have significantly increased, improved our digital design flow over the last three years. In Q1, we introduced version 11.1 of our Encounter RTL-to-GDSII flow for high performance and large scale design at 20-nanometers. This new version includes in-design double-patterning support for the 20-nanometer silicon.The growing strength of our digital flow enables us to pursue additional opportunities. At the most advance nodes, for designs using advance multi-core processors and for high performance mixed signal designs.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV