Electronic design software house Cadence Design Systems Inc says it has finished its talks with the SEC over acquisition-related write-offs and, as a result, has restated its in-process research and development charges for the acquisitions of Ambit Design Systems Inc, Bell Labs Integrated Circuit Design Automation Group 6, Excellent Design Inc and Symbionics Group Ltd. Cadence reckons it acquired intangible assets with an aggregate value of about $406m in the deals but, thanks to the new SEC guidelines, the aggregate write-off of acquired in-process technologies has been reduced from $339m to $194m. The revised results for the fiscal year ending January 2, 1999 show net income of $32m, or diluted earnings per share of $0.14.
