Mentor Graphics Corporation announced financial results for the company’s fiscal third quarter ended October 31, 2014. The company reported revenues of $292.7 million, non-GAAP earnings per share of $0.34, and GAAP earnings per share of $0.18.
“We had revenue and non-GAAP earnings per share that were both records for a third quarter,” said Walden C. Rhines, chairman and CEO of Mentor Graphics. “Strength in automotive products and services continued in the quarter and expanded into the broader transportation market, as aerospace and commercial vehicles also transition from mechanical to electronic systems. We are pleased with our momentum heading into the fourth quarter, with continued strength in transportation, high demand for design-to-silicon products and a growing pipeline of emulation customers.”
During the quarter Mentor Graphics announced its newest offering and key building block in the Xpedition® platform, the Xpedition Systems Designer product for multi-board systems connectivity. The company also announced an integration with Lumerical’s INTERCONNECT to enable new silicon photonics design methodologies that leverage the Mentor Graphics® Pyxis™ and Calibre® platforms. TSMC certified the Mentor® Analog FastSPICE (AFS™) Platform for 16nm FinFET processes during the quarter. Mentor also announced that the Olympus-SoC™ digital design system, the Analog FastSPICE Platform and the Calibre® signoff solution now meet TSMC’s 10nm FinFET process requirements for early customers’ test chip and IP design starts.
“Mentor had another successful quarter which again demonstrated strong leverage. A 6% revenue upside to guidance drove an over 60% increase in non-GAAP earnings per share,” said Gregory K. Hinckley, president of Mentor Graphics. “Renewals in our top ten bookings were up 55%, driven by strong transportation cabling demand and competitive replacement. We have also seen strong growth in services – particularly automotive. This is not surprising as new products and new customers need services to adopt new design methodologies. Service strength is typically a good leading indicator of future demand.”
To view an unabridged version of this press release, visit: http://s3.mentor.com/public_documents/news_article/company/news/Q3FY2015-earnings.pdf
