Cadence Reports First Quarter 2017 Financial Results

Cadence expects that its corporate representatives will meet privately during the quarter with investors, the media, investment analysts and others. At these meetings, Cadence may reiterate the business outlook published in this press release. At the same time, Cadence will keep this press release, including the business outlook, publicly available on its website.

Prior to the start of the Quiet Period (described below), the public may continue to rely on the business outlook contained herein as still being Cadence's current expectations on matters covered unless Cadence publishes a notice stating otherwise.

Beginning June 16, 2017, Cadence will observe a Quiet Period during which the business outlook as provided in this press release and the most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q no longer constitute the company's current expectations. During the Quiet Period, the business outlook in these documents should be considered historical, speaking as of prior to the Quiet Period only and not subject to any update by the company. During the Quiet Period, Cadence's representatives will not comment on Cadence's business outlook, financial results or expectations. The Quiet Period will extend until the day when Cadence's second quarter 2017 earnings release is published, which is currently scheduled for July 24, 2017.

For more information, please contact:

Investors and Shareholders
Alan Lindstrom
Cadence Design Systems, Inc.
408-944-7100
investor_relations@cadence.com

Media and Industry Analysts
Craig Cochran
Cadence Design Systems, Inc.
408-944-7039
newsroom@cadence.com

Cadence Design Systems, Inc.
Condensed Consolidated Balance Sheets
April 1, 2017 and December 31, 2016
(In thousands)
(Unaudited)

			April 1, 2017	December 31, 2016

Current assets:
	Cash and cash equivalents		$ 544,128	$ 465,232
	Short-term investments		3,479	3,057
	Receivables, net		180,571	157,171
	Inventories		30,734	39,475
	Prepaid expenses and other		41,092	37,099
		Total current assets	800,004	702,034

Property, plant and equipment, net of accumulated
	depreciation of $623,185 and $612,961, respectively		243,949	238,607
Goodwill			574,545	572,764
Acquired intangibles, net of accumulated amortization of
	$254,949 and $267,723, respectively		244,445	258,814
Long-term receivables			13,127	12,949
Other assets			315,128	311,740
Total assets			$ 2,191,198	$ 2,096,908

Current liabilities:
	Revolving credit facility		$ 50,000	$ 50,000
	Accounts payable and accrued liabilities		193,978	239,496
	Current portion of deferred revenue		331,848	296,066
		Total current liabilities	575,826	585,562

Long-term liabilities:
	Long-term portion of deferred revenue		66,399	66,769
	Long-term debt		643,709	643,493
	Other long-term liabilities		64,672	59,314
		Total long-term liabilities	774,780	769,576

Stockholders' equity			840,592	741,770
Total liabilities and stockholders' equity			$ 2,191,198	$ 2,096,908

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