Mentor Graphics Corporation announced financial results for the company’s fiscal fourth quarter ended January 31, 2014. The company reported revenues of $401.0 million, non-GAAP earnings per share of $0.92, and GAAP earnings per share of $0.89. For the full fiscal year, revenues were $1.156 billion and non-GAAP earnings per share were $1.62, and GAAP earnings per share were $1.29.
“The fourth quarter and full year achieved multiple all-time records for Mentor Graphics,” said Walden C. Rhines, chairman and CEO of Mentor Graphics. “Record annual bookings, record fourth quarter and annual revenues, record fourth quarter and annual levels of profitability and earnings per share, all evidence the value of Mentor’s technology, products and the merits of our strategy. Mentor’s board is raising the quarterly dividend to $0.05 per share. Aside from weakness within the Japanese semiconductor industry, core EDA demand remains solid for Mentor and we are very pleased with the traction our investments in emulation and new markets including transportation are achieving.”
During the quarter the company announced the acquisition of assets of Oasys Design Systems, which brings the Oasys RealTime™ RTL physical synthesis platform to the Mentor® digital implementation flow. This enables faster turnaround time for complex systems-on-chip, ASICs and IP blocks. The company also purchased the AUTOSAR assets of Mecel AB, complementing existing Mentor automotive software solutions which enable a wide range of automotive sub-systems. Mentor also announced the latest release of its Capital® software, which addresses vehicle electrical system design, manufacture and service. The Capital and Volcano™ tool suites were recently deployed in both passenger and commercial vehicle projects at Chinese automaker Jianghuai Automobile Co. Ltd. (JAC).
During the fourth quarter the company also announced a new version of the Mentor® Embedded Sourcery™ CodeBench embedded software development platform, and the latest release of the Mentor® Embedded automotive technology platform for Linux-based in-vehicle infotainment system development. Mentor also released the next-generation FloTHERM® product, its flagship offering for computational fluid dynamics, targeting today’s most advanced electronics designs. FloTHERM XT was named as one of EDN Magazine’s Hot 100 Electronics Products for 2013; the product also received an EDN China Innovation Award for Best Product, development tool and software category.
“The fourth quarter and fiscal 2014 were periods of solid execution for our company,” said Gregory K. Hinckley, president of Mentor Graphics. “Fourth quarter revenue was up over 20% and non-GAAP earnings per share were up 59% year on year. Continued attention to expenses enabled the company to comfortably achieve our multi-year commitment to reach 20% non-GAAP operating margins in fiscal 2014. I am also pleased to note that on a GAAP operating margin basis Mentor is the most profitable company among the big three EDA vendors.”
To view an unabridged version of this press release, visit: http://s3.mentor.com/public_documents/news_article/company/news/Q4FY2014-earnings.pdf
