Cadence Design Systems’ shares plunged in extended trading after the company issued a weak outlook for its fiscal second quarter. Sales are projected between $1.03B and $1.05B, falling short of analysts’ estimates of $1.11B. Adjusted earnings are expected in the range of $1.20 to $1.24 per share, significantly below analysts’ expectations of $1.43 per share. Despite this, Cadence raised its full-year outlook with sales anticipated between $4.56B and $4.62B, an increase from its previous forecast. Adjusted earnings are also expected to be higher, ranging between $5.88 and $5.98 per share. Notably, Cadence’s revenue slipped 1% in the first quarter, but its adjusted earnings per share came in above analysts’ estimates.