Cadence Design Systems Inc. CDNS shares fell in the extended session Monday after the software company topped Street expectations for the past quarter but isn’t expected to for the current one. Cadence shares declined 5% after hours, following a less than 0.1% decline in the regular session to close at $212.98. The company reported first-quarter net income of $179 million, or 89 cents a share, compared with $235.3 million, or 85 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were $1.29 a share, compared with $1.17 a share in the year-ago period. Revenue rose to $1.02 billion from $901.8 million in the year-ago quarter. Analysts surveyed by FactSet had forecast $1.26 a share on revenue of $1.01 billion. The company, however, forecast second-quarter earnings of $1.15 to $1.19 a share on revenue of $960 million to $980 million, while analysts forecast $1.25 a share on revenue of $1.01 billion. For the year, Cadence sees earnings of $4.96 to $5.04 a share on revenue of $4.03 billion to $4.07 billion for the year compared with the Street consensus of $4.98 a share on revenue of $4.04 billion for the year.
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