Mentor Graphics 2Q net income jumps

Mentor Graphics 2nd-quarter net income more than quadruples as bookings increase

Associated Press

WILSONVILLE, Ore. (AP) -- Mentor Graphics' fiscal second-quarter net income more than quadrupled as bookings rose and revenue improved.

The company, which makes software and other products for engineers of chips and other products, also boosted its fiscal 2013 adjusted earnings guidance.

Mentor Graphics reported late Thursday that it earned $18.2 million, or 16 cents per share, for the three months ended July 31. That's up sharply from $4.3 million, or 4 cents per share, a year ago.

Stripping out acquisition-related costs and other items, earnings were 21 cents per share.

Revenue increased 13 percent to $240.8 million from $213.7 million.

Analysts surveyed by FactSet forecast earnings of 16 cents per share on revenue of $240.1 million.

The company said that its bookings were at the second highest level for any second quarter in its history.

Going forward, Mentor Graphics raised its fiscal 2013 adjusted earnings outlook to about $1.38 per share from $1.37 per share. It still expects revenue of approximately $1.1 billion.

Wall Street predicts earnings of $1.34 per share on revenue of $1.1 billion.

The company anticipates third-quarter adjusted earnings of about 28 cents per share on revenue of approximately $265 million.

Analysts expect earnings of 26 cents per share on revenue of $265.2 million.

Shares of Mentor Graphics Corp. added 9 cents to $16.33 in afternoon trading on Friday.

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