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November 22, 2010

Mentor Graphics Q3 revenue increases to $239m

Expects Q3 revenue of approximately $293m

By CBR Staff Writer

Mentor Graphics has reported revenue of $239m for the fiscal third quarter ending 31 October 2010, as compared to $189.2m of the same period last fiscal.

Revenue from system and software increased by 40% to $148.1m compared to $106m for the same period last year.

Service and support revenue increased by 10% to $91m for the third quarter compared from $83m for the same quarter previous fiscal year.

For the third quarter, the company posted an operating income of $21m, as compared to an operating loss of $7.1m for the same period last year.

Mentor Graphics reported a net income of $15.1m and $0.14 per diluted share, as compared to a net loss of $27m and $0.28 loss per diluted share, for the same period in the last fiscal.

Mentor Graphics president Gregory Hinckley said the third quarter was a record on revenue, bookings and product book-to-bill and despite some headwinds from currency and product mix, they are confident that this momentum will continue into the fourth quarter.

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For the fiscal fourth quarter, the company is expecting revenue of about $293m and EPS of about $0.40.

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