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Wednesday, October 22, 2008
Cadence Postpones Third-quarter Results To Review Accounting
Wallace Witkowski
MarketWatch Pulse
SAN FRANCISCO -- Cadence Design Systems Inc. said late Wednesday that it is postponing the release of its third-quarter earnings to review accounting of its first-quarter revenue. Cadence said about $24 million that was placed in third-quarter revenue was recognized in first quarter of 2008. The company expects third-quarter revenue of $235 million to $245 million, and a loss of 25 cents to 27 cents a share, or an adjusted loss of 9 cents to 11 cents a share.
Copyright © 2008 MarketWatch, Inc.
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Most folks judge the health of a business by the revenue that comes in through sales. But not all revenue is equal. Companies can grow their sales by buying other companies, which means you don't get a clear view of how the real sales trends are moving.
So, many analysts, particularly those who look at retail, try to gauge what¿s known as "organic" growth, by looking at same-store sales. These are sales only at outlets open more than a year, so the metric can exclude any sales jump that comes from opening new locations. Retailers release same-store sales (which are frequently called "comps" since they're a true comparison from the previous period) every month.
Retail, incidentally, isn't the only industry to look at same-store sales. Hospital companies, also use the metric, to gauge how existing hospitals are performing compared to ones they just built or acquired.
