CIMdata PLM Industry Summary Online Archive
5 November 2007
Financial News
Mentor Graphics Reports Third Quarter Results Below Guidance; Reaffirms FY2008 and FY2009 Guidance
Mentor Graphics Corporation announced that third quarter fiscal 2008 results will be below guidance issued on August 23, 2007. Revenue is expected to be approximately $185 million versus guidance of $200 million and non-GAAP earnings are expected to be slightly below break-even as compared to a previously estimated $.10 per share. On a GAAP basis, the company also expects a loss.
"While we are disappointed with these results, Mentor's bookings for the quarter were strong and consistent with the assumptions underlying our previous guidance. Veloce emulation bookings, for example, tripled and we received our first significant order for our newly acquired Pinnacle and Olympus place and route products. Revenue was short of guidance because unique circumstances on several large bookings caused revenue to lag bookings by a quarter," said Walden C. Rhines, chairman and CEO of Mentor Graphics. "Because we see this revenue deferred by only a quarter, Mentor reaffirms its fiscal 2008 and 2009 outlook."
For the full fiscal year 2008, the company expects revenue of approximately $860 million, GAAP earnings per share of about $.55 and non-GAAP earnings per share of approximately $1.02.
Preliminary guidance for Fiscal 2009 is for revenue of $920 million, GAAP earnings per share of about $.78 and non-GAAP earnings per share of approximately $1.22.
The company emphasized that the foregoing results are preliminary and are subject to adjustments upon final closing of financial results and completion of the quarterly review by independent accountants. Mentor Graphics will release third quarter fiscal 2008 results after the close of the market on Thursday, November 29, 2007.
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