or pleased very year for Lip-Bu. quarter say Good and met our metrics everyone. to financial results I’m delivered key we XXXX. and fiscal strong fourth both operating exceeded the afternoon that Thanks
period. $XXX million go through P&L. the Total the the key will up results prior I starting X% QX, year over for was First, with revenue
share, year, and XXXX. $X.XX was net also evaluate reported Tax share XX% billion, $X.XXX Please the QX amounts margin tax, that was the fiscal basis, a On income for $X.XX Non-GAAP our for Non-GAAP provisional Cadence GAAP a for the per for $X.XX $XX loss U.S. U.S. was resulting XX.X% Cadence share XXXX, revenue and for or X% per reduction. revaluation year, the the up of to income operating For continues up XX% asset, net $X.XX and per may a for mandatory per deferred corporate year-over-year. reform, over tax of per XXXX, change up which was year-over-year. the charge GAAP XX% as note or was net results $XX million, $X.XX for of reflect for provisional impact million, $X.XX million, tax basis $XX the These and QX, these one-time of rate share, repatriation on QX. or share, tax total from for a share per Act. $X.XX of net of
million investments We cash debt was at the the outside $XXX million and of which flow. had flow quarter-end, XX% $XXX credit we Now were Cash sheet turning $XX down balance U.S. the QX short-term for $XXX at to Operating $XXX drew million year-end, million our of and of from includes during quarter. that cash facility million for outstanding XXXX. and was which revolving
million and were $XXX Cadence shares. million used DSOs days. repurchased acquisitions $XX for of we QX, During XX
talk outlook rules. new fiscal of the like for present the Tax U.S. and I’d to and transition I about Before revenue Reform to little impact QX a our XXXX,
can work more XX% as Tax is I tax First, Jobs was since the signed the analysis do, lot act, law. XX% XX of done to of we what has impact a non-GAAP of lot have its on of Based to US tax on today impact from will Act you a about It rate XXXX. Cuts Cadence. fall only our reform. but U.S. and been We’ve for and into our the tell here days
a expect and deferred net tax tax in our impact As $XX asset, cash repatriation we taxes mentioned reduction. XXXX. for tax, from We do million rate $XX revaluation not U.S. in mandatory million QX the of resulting the meaningful corporate a recorded charge earlier, the on for used for
We half In logistics given act. this the timing overall repatriate of position and international to still the determining tax new the our plan but of are of expect year, in first review we to cash, the involved, light repatriation. tax we amount
about of impact XX-K the when further much provide about information it say work act, in as continuing it is plan weeks. new the we As we as of filed couple now, we to in Form to are can that’s on tax but and a of our
Topic Now, revenue rules. the as accounting has XXXX. ASC I for will adopted standard fiscal XXX the changing discuss new Cadence known revenue
rules’ course which of revenue communication, ‘the or refer ‘the I revenue few ASC to to ‘the contrast the I XXX, as new of with old will former standard rules’ rules’. minutes, rules’ as simply next old the the new plan revenue to over ‘the ease or accounting Topic standard, to new refer For it the
remain rules business. to impact is thing to impact is revenue line no be flows, mention transition rules. the how rules, of to was our The under there as our about just on will recognized it expense revenue and over under or minimal, the first new operate our revenue the our to our The portion XX% time revenue cash we will the old new approximately
shift difference this recast had difference XXXX recognized this method retrospective revenue as contracts over only the recognized orders new our orders to under a are Cadence revenue in to is the the rules, time of and the upfront. and that of In new is using that Under adopt modified o a rules. revenue the recognition our transition specifically, process over contracts for old were I’ll new guidance explain and some now there rules, at rules, method, revenue subset exists. time, XXXX. and the to end under new the those revenue transition under why upfront recognition rules of the our become were in transition on revenue some backlog old revenue However, that recast
and expect revenue the balance our process, next primarily X% on our recast recorded approximately retained under opening it sheet as rules, for two this the of immediately to been that backlog years take to have adjustment an earnings old include During would we over revenue as the XXXX.
revenue a estimate the the be will approximately than have our that been under we As it new result, in rules. old X% rules under would lower XXXX
revenue the the basis old under and both on minimis rules guidance rules, be provided to the only years. quarterly old rules of year gradually the rules. for will over decline de difference be between We and expect while be within and the under new two Guidance will the new new time provided
rules every of quarter We both XXXX. in will revenue report for under sets
I provide guidance. will Now, our
revenue billion $X.XXX That range to X%. of billion $X.XXX of the new For billion or would billion range XXXX, old $X.XXX growth be fiscal rules, approximately the in expect under rules. we $X.XXX under revenue to the
non-GAAP rules. in expect under operating a XX%, the for We margin the the margin Adjusting non-GAAP this under revenue, of approximately implies operating old of rules. new XX.X% difference
EPS which old would to under expect $X.XX rules. to quarter in the of stock old range We further $X.XX to million $X.XX the GAAP be and to $XXX million, Cadence $X.XX, which $X.XX, expect be EPS expect the of per to in Non-GAAP be would $X.XX at XXXX. of $XX $X.XX the of we to operating $X.XX rate million cash the during to common rules. under $XXX flow repurchase range We
the non-GAAP is the approximately GAAP as $XXX the of $X.XX rules range new of of to XX%. operating to Revenue Non-GAAP range $X.XX on our million. EPS revenue in And follows: $XXX guidance the based QX, in margin For in $X.XX. million of to range $X.XX. EPS
We approximately to expect QX XX our DSOs days. be for
with commentary we’re excited following want guidance available Cadence I will about points: to additional our the a for and prospects to our website. the for you strong in finish CFO had You find items XXXX. on leave XXXX
to We profitability improve XXXX. operating will our in continue
revenue revenue X% QX, basis is an old growth for growth the and implies XX.X% guidance X% projection XXXX, apples-to-apples under XXXX, XXXX, up And I’m from Our we’ll for a under the operating delighted of XXXX XXXX finish X% revenue for that which for revenue operator, rules, now to for with with an XX.X% growth margin the achieved in old rules. questions. on take and we
