| Balance Sheet
Exiting 3Q09, cash and cash equivalents, and short-term investments were $575.4 million versus $562.4 million in 2Q09. Accounts receivable were $195.5 million versus $225.4 million in 2Q09. Days Sales Outstanding (DSO) for 3Q09 decreased to 108 days, from 130 days in 2Q09, primarily due to lower receivable balances. Inventories were $25.6 million versus $22.6 million in 2Q09.
On the liabilities side, total long-term liabilities amounted to $912.8 million versus $925.2 million in 2Q09. 3Q09 total debt included $108.9 million of long-term deferred revenue and $431.1 million of convertible notes.
Management expects total DSOs for FY09 to be in the range of 120 to 125 days, an improvement from its prior estimate of 135 to 140 days.
Cash Flow
Net cash flow from operating activities was $21.7 million in 3Q09 versus $10.3 million in 2Q09. Capital expenditure was approximately $8.2 million versus $7.5 million in 2Q09.
Management expects operating cash flow for 4Q09 to be in the range of ($10.0)-($5.0) million and in the range of $15.0-$20.0 million for FY09. The full year range takes into account severance payments in the amount of approximately $55.0 million. Capital expenditure for FY09 is expected to be in the range of $40.0-$45.0 million.
Others
On November 4, 2009, CDNS announced that Exar Corporation (EXAR) has signed an expanded business agreement to establish Cadence® as its leading chip planning and mixed-signal design solutions provider.
On October 29, 2009, CDNS announced that it has delivered a comprehensive low-power design flow for engineers targeting the 65-nanometer process at Semiconductor Manufacturing International Corporation.
On September 29, 2009, CDNS announced the immediate availability of dramatically expanded support for multi-core processors across multiple technology domains.
On August 31, 2009, CDNS and GLOBALFOUNDRIES Inc. announced to have entered into a multi-year software and services agreement for advanced semiconductor design.
As part of the agreement, GLOBALFOUNDRIES has adopted a comprehensive suite of Cadence® technologies to aid in the design, verification and manufacturing of complex semiconductor devices targeting process technologies of 45 nanometers and below. In addition, GLOBALFOUNDRIES will team with the Cadence Services organization to build differentiated design-enablement capabilities to support customers at advanced process nodes.
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