Mentor Graphics – MENT – Revenues and earnings were an all-time record for a second quarter
Mentor Graphics Corporation (NASDAQ: MENT) announced financial results for the company’s fiscal second quarter ended July 31, 2012. MENT reported revenue of $240.8 million, non-GAAP earnings per share of $.21, and GAAP earnings per share of $.16. During the quarter, the company continued its share buy-back, repurchasing 1.4 million shares for $20 million. Since the first fiscal quarter of 2012, the company has repurchased 8.2 million shares for $110 million.
“Revenues and earnings were an all-time record for a second quarter, and bookings were at the second highest level for any second quarter in company history,” said Walden C. Rhines, chairman and CEO of Mentor Graphics. “Like the whole electronic design automation industry, Mentor is benefiting from the transition to 20nm and 28nm which is driving significant design activity and resultant software demand. Additionally, the company’s investments in system design, and non-traditional electronic design automation markets like embedded software, helped produce the strong results in the quarter. We are on track for record revenue and earnings for fiscal year 2013.”
During the quarter, MENT announced collaborations with TSMC, GLOBALFOUNDRIES and Samsung in advanced process nodes. Mentor also introduced a GENIVI 2.0-compliant, Linux-based, in-vehicle infotainment solution. The company’s Capital tool suite for transportation electrical systems design was accredited to IBM’s “Ready for IBM Rational” program. Mentor also introduced a unique, general-purpose software solution that combines onedimensional and three-dimensional computational fluid dynamics—the first result from the merged technologies made possible by the recent acquisition of Flowmaster Ltd.
“We are pleased with our performance this quarter, beating our guidance by four cents. With continued focus on cost controls, 55% of incremental year-over-year revenues dropped through to operating income,” said Gregory K. Hinckley, president of Mentor Graphics. “A weak euro, a weak rupee, and a strong yen worked to our advantage. We reaffirm revenue guidance of $1.1 billion and are raising our earnings estimate.”
MENT Outlook
For the full fiscal year 2013, the company reaffirms that it expects revenues of about $1.1 billion, and raises the outlook for non-GAAP earnings per share by $0.01 to approximately $1.38, and GAAP earnings per share by $0.03 to about $1.23. For the third fiscal quarter 2013, the company expects revenues of about $265 million, non-GAAP earnings per share of about $0.28, and GAAP earnings per share of approximately $0.23.
About Mentor Graphics – MENT
Mentor Graphics Corporation (MENT ) is a world leader in electronic hardware and software design solutions, providing products, consulting services and award-winning support for the world’s most successful electronic, semiconductor and systems companies. Established in 1981, the company reported revenues in the last fiscal year of about $1,015 million.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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