This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Mentor Graphics Reports Fiscal Second Quarter Results, Announces Dividend And Increases Share Repurchase Authorization

Stocks in this article: MENT

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.

1 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,781.81 +3.66 0.02%
S&P 500 2,063.66 +2.43 0.12%
NASDAQ 4,754.2910 +5.8950 0.12%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs