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A Chipmaker Support Company with Strong Fundamentals
Don't Miss:Spurs Nation32nd annual Tejano ConjuntoPub Crawl: Little Red BarnmySpy: Twisted Taco Truck ThrowdownElection resultsComics GamesOpinion HomeColumnistsCommentaryEditorialsLetters to the EditorAutomotiveEagle FordColumnistsNational/InternationalReal EstateSalary WizardPress releasesTop Work PlacesSponsored ContentRecent StoriesRestaurant SearchRestaurant News and ReviewsRecipesCadence Design Systems provides electronic design automation (EDA), software solutions, hardware and silicon intellectual property. Additionally, the company offers engineering and education services. Its products are used in the development of complex integrated circuits and electronic systems. The stock has a market cap of nearly 4 billion dollars and is up around 12% in the last year. With a beta of 1.38, it isn't too volatile. Cadence recently announced the acquisition of Tensilica, a leading dataplane processing IP provider, for some $380 million. However, investors weren't too pleased with the hefty premium paid for the acquisition, sending shares down 5%.
After some pretty big earnings in 2006 and 2007, the company was hit by the financial crisis, reporting a loss in both 2008 and 2009., Since then the company has been working hard on turning around operations and is once again growing earnings,[url=http://www.onitsukatiger.com.sg]asics singapore[/url], although annual EPS hasn't yet reached the precrisis levels. Still, the company is on the right track. Quarterly earnings reports have beaten analyst expectations every single quarter since Q1 2009, with 2010 EPS of $0.20 almost quadrupling to $0.77 in 2012. Analysts expect earnings of $0.89 per share in fiscal 2013.
In the latest report, Q4 2012, the company delivered fairly strong fullyear results. Revenue for the year was up 15% to $1.326 billion, and the operating margin increased by 5% to 23%. Management warned of soft conditions in the global semiconductor market, but maintained that the company benefited from customers' continuing investment in new designs and the increasing complexity of these designs. Looking ahead to Q1 2013, the company is expecting revenues in the range of 342352 million dollars, and nonGAAP EPS of $0.19$0.20.
Let's take a look at some peer earnings. Synopsis, which competes in the EDA division, has been growing earnings impressively over the last few years, although they missed estimates by two cents in Q2 2012. On the other hand, they beat by over 20% for Q1 2013. The expected growth rate isn't too hot, though, at 5.5%, and as I will discuss in the next paragraph, the stock is a little pricey. Another competitor, Mentor Graphics, has seen earnings recover to precrisis levels in 2012, and is growing fast. The company has a strong history of beating expectations and is looking at a 35 year expected growth rate of over 20%, higher than Cadence's 16.3%.
At the moment, Cadence is trading at a discount to the sector and its major competitors. Its TTM P/E 8.87x is significantly lower than Mentor's 14.9x and Synopsys' 27.65x, as well as the industry average of 15.46x. The company's PEG ratio is only 0.91, but the price to sales is about double the industry average at 2.99. The TTM return on equity is excellent at 66.34% and the TTM operating margin of 15.3% is on par with the industry. The company has a fairly healthy balance sheet with a total debt to equity ratio under 50, and around $827 million in cash on the books.
In summary, Cadence Design Systems looks pretty solid from a fundamental perspective. Earnings, after dipping badly during the crisis, are recovering, and the company is aggressively increasing revenue. Despite a troubling outlook for the semiconductor industry, the company's support services are still seeing strong demand. Furthermore, the stock is valued at a discount to its peers and the industry, and has enough cash on the books to fund further acquisitions should they prove necessary.

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[use] [psychology in educational technology in to] pick; educational technology is a wide range of academic system,[link widoczny dla zalogowanych], including many branches. (www.unjs.com) it should not be compressed version information technology or network, should include a number of human cognitive disciplines, such as psychology will occupy an important position.
The theory of &nbsp,[link widoczny dla zalogowanych];
[Key words] psychology; educational technology
Localization of
psychology in my brain is always a very deep very mysterious discipline, as a psychological doctor was my childhood dream. The first term in the University, my first exposure to the discipline of psychology, but at the end of the semester, I have a feeling,[link widoczny dla zalogowanych], just remember some conclusions, do not know what is the conclusion established conditions,[link widoczny dla zalogowanych], it is how to come. After all,[link widoczny dla zalogowanych], the abstract theory and a few classes is not possible to let us have a deeper understanding of the psychology, also do not talk to go up in the future will learn it and education technology together, together.
educational technology professional now, teachers and students are most science and engineering background, of course, I am not arguing and engineering from people is done bad educational technology, I just want to say that if the only science and engineering background, it will result in the research of Educational Technology paradigm is relatively single,[link widoczny dla zalogowanych], this is not conducive to the development of educational technology.Research on the development of
educational technology is to "promote learning". So, we should first learn how it happened,[link widoczny dla zalogowanych], how to learn, this is the knowledge of cognitive psychology. It is only in the understanding of the occurrence of learning and the law of development,[link widoczny dla zalogowanych], we can improve it. Now I can not see psychology due attention in educational technology,[link widoczny dla zalogowanych], can not see more research and education psychology the sign of the cross, the subject of the opposite psychology always naturally or half unconsciously and research of educational technology to draw the line, according to a lot of information on research,[link widoczny dla zalogowanych], no expert is in the domestic field of educational technology, a little known is a psychology professional background, even the education of professional people who have little. And USA some famous education experts, such as Gagne has just passed away, are some of the prominent psychologist. In fact, I think that as long as the research learning,[link widoczny dla zalogowanych], can be called the educational technology experts, such as Thorndike. Now all I learn a multitude of names of educational technology in the learning theory are abstracted into a principle, dried up like a seventy or eighty year old woman,[link widoczny dla zalogowanych], we are bound to these restrictions and fetters, to go out.
experts we regardless of educational technology in Is it right? Education background or psychological origin, if they can be aware of pedagogy, psychology foundation status in educational technology and put it into practice, I think that is enough, because education technology must be applied subjects, research it is simply a technical level [相关的主题文章：

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WASHINGTON, Jan. 9 (Xinhua) -- U.S. President Barack Obama on Thursday announced five "promise zones" as part of his efforts to focus on income inequality and poverty.
"I will work with anybody who's willing to lay out some concrete ideas to create jobs, help more middle-class families find security in today's economy, and offer new ladders of opportunity for folks to climb into the middle class," said Obama at an event in the White House as he unveiled the first five " promise zones."
The five designated zones are located in San Antonio, Philadelphia, Los Angeles, Southeastern Kentucky and the Choctaw Nation of Oklahoma. They would be eligible for tax breaks and other forms of federal support.
Obama first announced the "promise zone" initiative in his State of the Union speech last year. Obama said then his administration planned "to partner with 20 of the hardest-hit towns in America to get these communities back on their feet. We' ll work with local leaders to target resources at public safety, and education, and housing."

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a few days ago,[link widoczny dla zalogowanych], Beijing Intellectual Property Office and the Beijing economic and Technological Development Zone signed the "2012 to promote intellectual property work plan",[link widoczny dla zalogowanych], introduced 16 measures to enhance regional innovation capability, this year will breed 20 intellectual property advantage enterprises.
as the second important industrial base,[link widoczny dla zalogowanych], the proportion of enterprises economic and Technological Development Zone has a patent in Zhongguancun science and Technology Park in the park's highest,[link widoczny dla zalogowanych], accounted for 24.4% of Zhongguancun enterprises in the park. In 2011,[link widoczny dla zalogowanych], the development zone of patent applications grew 62%, the number of authorized patents grew 49%,[link widoczny dla zalogowanych], of which invention patents accounted for more than half of.
this year, the city will be in the Development Zone pilot standardization of intellectual property management system (BIPS), guide the development zone enterprises through the construction of standardization of intellectual property management system,[link widoczny dla zalogowanych], promote enterprise intellectual property management standardization,[link widoczny dla zalogowanych], systematization, fine and institutionalized.
Development District Intellectual Property Bureau will be printed and issued the "development zone" intellectual property Handbook (Policy),[link widoczny dla zalogowanych], manual covers countries, Beijing, Zhongguancun science and Technology Park and Development Zone of the IP related policies and measures,[link widoczny dla zalogowanych], facilitate enterprises understand and use intellectual property policies and regulations.

to continue to enhance the enterprise the economic and Technological Development Zone innovation strength,[link widoczny dla zalogowanych], this year the Department of intellectual property rights will be through the establishment of key enterprises contact mechanism, construction of enterprise patent work exchange station, carry out the patent work of the enterprises weak link special cultivation mode, and strive to cultivate the complete work 20 intellectual property advantage of small and medium sized enterprises and 20 Beijing city patent pilot, 5 Beijing patent demonstration enterprise of development work, the pilot enterprise development zone "patent engine" exceeded 200.
the Municipal Intellectual Property Bureau will set up a development zone enterprise patent certificate fast channel, the development zone enterprises to apply for patent certificate request expedited review,[link widoczny dla zalogowanych], put forward the development zone enterprises listed no IPR violation record certificate request, the development zone enterprises in the media published patent product advertising a certificate request, in accordance with the conditions, 5 working days banjie.
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Shanghai City, jointly with the Municipal Commission of Commerce, the district actively implement measures, efforts to defuse the cabbage and other vegetables and seasonal varieties structural slow-moving problem.

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finished the face, his hands with geography Lipeng messy hair, pick up the corner of the garbage heap a battered old hat worn on the head, and put on a flip flops, dragging the frozen numb legs, staggered away.
"so cold day, you need quilts? Send you to the relief stations? Where are you from? What need help?......" In the face of everyone's enthusiastic, men do not care about. After about half an hour, he ends up noodles, eat like wolves and tigers a.
then, residents in the vicinity of the woman from the house carrying a bowl of hot noodles, on the tramp came, "the weather is so cold,[link widoczny dla zalogowanych], fast eat it while it's hot." Then, a passer by who brought a bag of steamed buns. But the man didn't notice.
sea network Strait Metropolis Daily hearing (Haidu reporter Zhu Minmin Mao Zhaoqing) cold winter night, eating nothing, only the thin dress tramps heat. Recently, Dongguan has a tramp freeze to death in the city under the bridge, people worried about. Yesterday morning, the streets of Fuzhou, a tramp, leads to a warm "misunderstanding",[link widoczny dla zalogowanych], staged a heartwarming scene.
looked at, a pedestrian side of the anxious, rushed forward, and shook the canvas,[link widoczny dla zalogowanych], and opened a canvas. At this moment, be in rags, curled up the bum up, visible to the outside stood so many people, he pulled his head into the canvas, turned over, continue to sleep. A false alarm, everyone breathed a sigh of relief.
said,[link widoczny dla zalogowanych], listen to accent, men like the people of Jiangxi,[link widoczny dla zalogowanych], about 30 years old, was very clear. His day is near the trash for food,[link widoczny dla zalogowanych], night back here to rest.
yesterday morning,[link widoczny dla zalogowanych], Fuzhou citizens Ms. Li attempting to our newspaper, in Ting Pu Lu Pu Cun,[link widoczny dla zalogowanych], Jinan District near, a homeless man senseless, like frozen halo.
The residents in the vicinity of
reporter immediately rushed to the scene, near the Pu Cun Ting Pu Road, corner of a wall in the village, found the tramp. The cold corner next, blue canvas a spliced, stood around several passers-by. Nearby residents said,[link widoczny dla zalogowanych], a homeless man curled up inside, these days, the weather suddenly cold, he is in the night. Reporter approached to repeatedly, the other is motionless, silent, did not make any response.
later, the reporter to the Fuzhou city rescue station reflect, staff said, in the winter,[link widoczny dla zalogowanych], they also launched the "winter warmth" activities,[link widoczny dla zalogowanych], day and night to have a staff to Shangjie inspection, vagrant to the relief stations to keep out the cold, some do not want to, will give them food and goods,[link widoczny dla zalogowanych], clothing for the cold winter.
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Shanghai City, jointly with the Municipal Commission of Commerce, the district actively implement measures, efforts to defuse the cabbage and other vegetables and seasonal varieties structural slow-moving problem.