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Date: 28-05-13

Mentor Graphics is on track to cross US$1 Billion annual sales

Mentor Graphics has reported a revenue of $226.5 million, non-GAAP earnings per share of $0.10, and GAAP earnings per share of $0.01 in its fiscal first quarter ended April 30, 2013.

“Sales force execution and strong customer demand produced an all-time bookings record for a first quarter. Strength was evident in the IC Design to Silicon, Scalable Verification—driven by emulation demand—and New and Emerging product categories. The year is off to a great start and Q2 is already showing continued bookings strength,” said Walden C. Rhines, chairman and CEO of Mentor Graphics. “During the quarter we initiated a $0.045 quarterly dividend. This has been well received by our shareholders.”

“Mentor’s business was exceptional in the first quarter, with bookings more than doubling year over year,” said Gregory K. Hinckley, president of Mentor Graphics. “First quarter non-GAAP earnings per share of $0.10 were double our guidance and represented the 17th consecutive quarter of exceeding non-GAAP guidance. Earnings benefited from continuous rigorous attention to operating expenses and a higher margin for our hardware business.”

The EDA industry is doing well in year 2013, and more sales of advanced EDA tools this year is inevitable to design advanced chips faster with less bugs. Software is clear driver of chip industry. Mentor being a 3rd biggest player in the industry, may find it annual sales cross US$ 1 Billion in its this fiscal year.

Outlook for the second quarter of fiscal 2014: Mentor expects revenues of about $245 million, non- GAAP earnings per share of about $0.17, and GAAP earnings per share that are approximately $0.14. For the full fiscal year 2014, the company expects revenues of about $1.155 billion. The company is forecasting non-GAAP earnings per share of about $1.55, and GAAP earnings per share of approximately $1.33.

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