Mentor Graphics Corporation (NASDAQ: MENT) today announced financial results for the company’s fiscal second quarter ended July 31, 2013. The company reported revenues of $253.2 million, non-GAAP earnings per share of $0.26, and GAAP earnings per share of $0.19.
“Revenue, bookings and operating income were all-time records for a second quarter,” said Walden C. Rhines, chairman and CEO of Mentor Graphics. “New capabilities for 20, 14 and 10 nanometer technologies, and the performance enhancements these advanced nodes enable, were the principal forces driving strength in the Calibre products and Veloce emulation. Record first- half bookings, book to bill and backlog reinforce our confidence for fiscal 2014 and beyond.”
In support of the many innovations emerging in integrated circuits manufactured at 20, 14 and 10 nanometers, such as FinFETs and multi-patterning, the company in second quarter announced several new milestones in the Calibre® ecosystem of strategic partnerships with TSMC, Samsung, GLOBALFOUNDRIES and Freescale. The company also announced that its Questa® and Veloce® functional verification platforms were chosen by ARM to allow licensees to test compliance with the specifications of the ARM AMBA 5 and AMBA 4 interconnects.
In addition, the company announced the Capital® Harness™ TVM software serving the automotive, aerospace and defense industries. The product automatically generates detailed harness manufacturing process and cost data that is specific to each customer’s harness design, factory and cost models.“Scalable verification, in particular emulation, highlighted an excellent quarter. Strong renewal activity and emulation drove a 70% year-on-year increase in bookings,” said Gregory K. Hinckley, president of Mentor Graphics. “Exceeding non-GAAP guidance by 50% and last year’s results by nearly 20% is evidence of our continuous attention to operating expenses. Third quarter guidance reflects the successful ramp of emulation production and customer demand for this enabling technology.” Outlook For the third quarter of fiscal 2014, the company expects revenues of about $260 million, non-GAAP earnings per share of about $0.19, and GAAP earnings per share that are approximately $0.11. For the full fiscal year 2014, the company is maintaining revenue expectations of about $1.155 billion and is increasing its forecast of non-GAAP earnings per share to about $1.59. It now forecasts GAAP earnings per share of approximately $1.31.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV