CIMdata PLM Industry Summary Online Archive
25 May 2012
Financial News
Mentor Graphics Reports Fiscal First Quarter Results
Mentor Graphics Corporation today announced financial results for the company’s fiscal first quarter ended April 30, 2012. The company reported revenues of $247.9 million, non-GAAP earnings per share of $.30, and GAAP earnings per share of $.25. The company raised guidance for fiscal year 2013 non-GAAP earnings per share by $.05 to $1.37 and for GAAP earnings per share by $.07 to $1.20.
“Strength in our business continued in the first quarter, with record first quarter revenue and earnings,” said Walden C. Rhines, chairman and CEO of Mentor Graphics. “The release of our next-generation emulation platform during the quarter has attracted broad customer interest, and we have a very full sales funnel. We are also seeing increasing demand for our Calibre family of products at advanced process nodes, as the explosion of capacity at 28nm is driving significant design activity. With 20nm processes being certified now, and beginning production later in the year, we expect that the ongoing move to the 28nm and 20nm generations of technology will drive an exceptionally large increase in design activity. This will benefit Mentor and the whole electronic design automation industry through 2013.”
During the quarter, the company announced the availability of the Veloce®2 platform, the next generation of emulation solutions for the verification of electronic system and system-on-chip (SoC) designs. This included the announcement of a new environment called Veloce VirtuaLAB, giving verification engineers access to a full environment for verifying complex electronics systems prior to first silicon availability without requiring the building of hardware test systems. The company also announced the latest release of the PADS® desktop solution for PCB design, with new features addressing design-for-manufacturing analysis, high-speed and interactive routing. Additionally the quarter saw the latest release of the Questa® functional verification platform for complex SoC, ASIC and FPGA designs.
“Continued focus on cost controls, a favorable product mix, and better than forecasted profitability in the business have allowed us to raise earnings guidance for the year. We also reaffirm revenue guidance at $1.1 billion for the year as we expect increased Veloce2 emulation shipments beginning in the second quarter as production capacity increases,” said Gregory K. Hinckley, president of Mentor Graphics. “We are pleased that we have achieved an operating margin in the first quarter that is already near our fiscal year target of 18% non-GAAP. With a record backlog at the start of the year and strong demand for our products at advanced process nodes, we remain confident in our outlook for the rest of the fiscal year.”
To view the unabridged version of this press release, visit:
http://www.mentor.com/company/news/upload/Q1FY2013-earnings_pdf
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