Mentor Graphics Corporation today announced financial results for the company’s fiscal second quarter ended July 31, 2016. The company reported revenues of $254 million, GAAP earnings per share of $0.03 and nonGAAP earnings per share of $0.15.
“Mentor’s second quarter results exceeded revenue and earnings-per-share guidance,” said Walden C. Rhines, chairman and CEO of Mentor Graphics. “Emulation was strong this quarter, as we did business with more than 20 customers including four new logos, and reinforced our lead in networking applications. In addition, automotive products had another strong bookings quarter.”
During the quarter the company launched the MicReD®Power Tester 600A product, which tests thermal reliability of power electronics devices in electric and hybrid vehicles. Mentor also announced a PADS® software-based platform which enables individual engineers and small teams to develop PCB-based systems from concept through manufacturing hand-off. The company also introduced the Tanner™ Calibre® One IC verification suite, now providing access to the Calibre® verification tools for Tanner EDA’s user base.
During the quarter Mentor announced that Barefoot Networks, a pioneer in high-performance 1 of 14 network switches, used the Veloce® emulation platform to verify Barefoot’s fast and fully programmable switch. In automotive news, Lear Corporation deployed Capital® software to address design complexity issues and reduce development times.
“System company renewals were strong in the second quarter, partly offsetting merger and acquisition-related weakness in the semiconductor industry, and we have a large portfolio of system company renewals in the coming quarters,” said Gregory K. Hinckley, president of Mentor Graphics. “Operationally, we continue to maintain rigorous attention to expense control.”