Expects Q3 revenue of approximately $293m
Mentor Graphics has reported revenue of $239m for the fiscal third quarter ending 31 October 2010, as compared to $189.2m of the same period last fiscal.
Revenue from system and software increased by 40% to $148.1m compared to $106m for the same period last year.
Service and support revenue increased by 10% to $91m for the third quarter compared from $83m for the same quarter previous fiscal year.
For the third quarter, the company posted an operating income of $21m, as compared to an operating loss of $7.1m for the same period last year.
Mentor Graphics reported a net income of $15.1m and $0.14 per diluted share, as compared to a net loss of $27m and $0.28 loss per diluted share, for the same period in the last fiscal.
Mentor Graphics president Gregory Hinckley said the third quarter was a record on revenue, bookings and product book-to-bill and despite some headwinds from currency and product mix, they are confident that this momentum will continue into the fourth quarter.
For the fiscal fourth quarter, the company is expecting revenue of about $293m and EPS of about $0.40.