4/2/2003 - Cadence Design Systems, Inc. (NYSE:CDN) was named one of "America's Most Admired Companies" by Fortune Magazine in its annual survey of executives, directors and industry analysts. Cadence was one out of 10 companies -- and the only electronic design company -- honored in the software category. Fortune surveyed 10,000 executives, directors and securities analysts. They rated the companies in their own industries using eight criteria: social responsibility, innovation, long-term investment value, use of corporate assets, employee talent, financial soundness, quality of products/services and quality of management.
"This is a great honor, and a strong validation of our longstanding customer-focused philosophy," said Ray Bingham, president and chief executive officer of Cadence. "We have done well as a business by focusing on the evolving needs of our customers, and by helping them bring innovative products to market in an increasingly challenging and complex environment."
In addition to high marks in quality of management and quality of products/services, Cadence won a strong rating in the innovation category. Within the past year, Cadence received the prestigious IEEE Award for "Industry Leadership in Innovation." IEEE, the world's largest technical professional society, honored Cadence with its 2002 Corporate Innovation Recognition award, citing leadership in the field of electronic design automation tools and systems that has "resulted in major advancement of the arts and sciences of electro-technology."
Cadence is the largest supplier of electronic design technologies, methodology services, and design services. Cadence solutions are used to accelerate and manage the design of semiconductors, computer systems, networking and telecommunications equipment, consumer electronics, and a variety of other electronics-based products. With approximately 5,300 employees and 2002 revenues of approximately $1.3 billion, Cadence has sales offices, design centers, and research facilities around the world. The company is headquartered in San Jose, Calif., and traded on the New York Stock Exchange under the symbol CDN. More information about the company, its products and services is available at www.cadence.com.
Cadence and the Cadence logo are registered trademarks.
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