Cadence Design Systems, Inc. (CDNS) Bank of America Merrill Lynch Global Technology Conference May 08, 2012 05:45 pm ET Executives Geoff Ribar - SVP & CFO AnalystsPresentation [Abrupt Start] Unidentified Analyst
Cadence Design Systems, one of the leading EDA providers to the semiconductor industry. We are going to make a short presentation and then we will open it up for Q&A. Geoff? Geoff Ribar Thank you. And I promise it will be relatively short. I am going to briefly talk about EDA, a lot of you, some of you may know, some of you may not know EDA very well, so I’ll give a little bit of background. Then a little bit about major drivers that are driving both our customers’ for our business and then lastly kind of conclude on talking about Cadence specifically. So first of course this is covered by Safe Harbor, I do advice you to read our financial statements, both in SEC and our last earnings statement. And again we are going to talk about non-GAAP, not just GAAP numbers, again you can check that out in our most recent financial statements to see the differences and I advice you to take a look at them. So EDA, Cadence is one of the leading providers of EDA tools. Our customers are largely the system and chip companies that you are probably very familiar with. We build the software that allows them to build the chips or the boards that go into their products. We've grown very rapidly and a little bit outside the EDA norm. We grew 23% last year and have made steady progress over the past couple of years.