Mentor Graphics Reports Fiscal First Quarter Results
The company also announced the latest release of the PADS® desktop solution for PCB design, with new features addressing design-for-manufacturing analysis, high-speed and interactive routing. Additionally the quarter saw the latest release of the Questa® functional verification platform for complex SoC, ASIC and FPGA designs . “Continued focus on cost controls, a favorable product mix, and better than forecasted profitability in the business have allowed us to raise earnings guidance for the year. We also reaffirm revenue guidance at $1.1 billion for the year as we expect increased Veloce2 emulation shipments beginning in the second quarter as production capacity increases,” said Gregory K. Hinckley, president of Mentor Graphics. “We are pleased that we have achieved an operating margin in the first quarter that is already near our fiscal year target of 18% non-GAAP. With a record backlog at the start of the year and strong demand for our products at advanced process nodes, we remain confident in our outlook for the rest of the fiscal year.”
Outlook For the full fiscal year 2013, the company reaffirms that it expects revenues of about $1.1 billion, and raises outlook for non-GAAP earnings per share by $.05 to $1.37, and GAAP earnings per share by $.07 to $1.20. For the second fiscal quarter FY2013, the company expects revenues of about $240 million, non-GAAP earnings per share of $.17, and GAAP earnings per share of $.10.