WILSONVILLE, Ore.--( BUSINESS WIRE)--Mentor Graphics Corp. (NASDAQ:MENT) today announced that the company will release financial results for the fiscal fourth quarter, ended January 31, 2011, on Thursday, February 24, 2011 at approximately 4:15 p.m. Eastern time. A conference call with investors to discuss the financial results is scheduled for 5:00 p.m. Eastern time.
The company today affirmed that it expects to meet or exceed its outlook for the fiscal fourth quarter and full fiscal year 2011, as provided on November 19, 2010. This guidance was for revenue of about $293 million, non-GAAP earnings per share of approximately $0.46, and GAAP earnings per share of about $0.40 for the fourth quarter, up from reported revenues of $237.1 million, non-GAAP earnings per share of $0.30, and GAAP earnings per share of $0.39 for the fourth quarter of the preceding fiscal year. For the full fiscal year ending January 31, 2011, the company expected revenue in the range of $900 million, non-GAAP earnings per share of about $0.67, and GAAP earnings per share of approximately $0.19, as compared to reported revenues of $802.7 million, non-GAAP earnings per share of $0.47, and a GAAP loss per share of $0.23 for the preceding fiscal year. For a reconciliation of GAAP to non-GAAP guidance, see “Discussion of Non-GAAP Financial Measures” below.
Mentor Graphics’ board and management team are focused on delivering shareholder value. The company’s share price has grown by more than 70% over the last year and it also grew by more than 70% during the prior year period, for a two year growth of approximately 200%, significantly outperforming its peer group and the market.
- Live audio webcast at http://www.mentor.com/company/investor_relations. Please register at this website prior to the scheduled call time of 5:00 p.m. Eastern time.
- Conference call replay: Begins February 24, 2011 (7:00 p.m. Eastern time); Ends March 4, 2011 (3:00 a.m. Eastern time). USA 800-475-6701; International 320-365-3844; Access code: 192453
About Mentor Graphics
Mentor Graphics Corporation (NASDAQ: MENT) is a world leader in electronic hardware and software design solutions, providing products, consulting services and award-winning support for the world’s most successful electronic, semiconductor and systems companies. Established in 1981, the company reported revenues over the last 12 months of about $850 million. Corporate headquarters are located at 8005 S.W. Boeckman Road, Wilsonville, Oregon 97070-7777. World Wide Web site: http://www.mentor.com/.
(Mentor Graphics and Mentor are registered trademarks of Mentor Graphics Corporation. All other company or product names are the registered trademarks or trademarks of their respective owners.)
Statements in this press release regarding the company’s guidance for future periods constitute “forward-looking” statements based on current expectations within the meaning of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company or industry results to be materially different from any results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following: (i) the company’s ability to successfully offer products and services that compete in the highly competitive EDA industry; (ii) product bundling or discounting of products and services by competitors; (iii) effects of foreign currency fluctuations on the company’s business; (iv) changes in accounting or reporting rules or interpretations; (v) the impact of tax audits, or changes in the tax laws, regulations or enforcement practices; (vi) effects of unanticipated shifts in product mix on gross margin; and (vii) effects of customer seasonal purchasing patterns and the timing of significant orders which may negatively or positively impact the company’s quarterly results of operations and liquidity, all as may be discussed in more detail under the heading “Risk Factors” in the company’s most recent Form 10-K or Form 10-Q. Given these uncertainties, prospective investors are cautioned not to place undue reliance on such forward-looking statements. In addition, statements regarding guidance do not reflect potential impacts of mergers or acquisitions that have not been announced or closed as of the time the statements are made. Mentor Graphics disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any of the forward-looking statements to reflect future events or developments.
Fiscal Year Definition
Mentor Graphics fiscal year runs from February 1 to January 31. The fiscal year is dated by the calendar year in which the fiscal year ends. As a result, the first three fiscal quarters of any fiscal year will be dated with the next calendar year, rather than the current calendar year.
Discussion of Non-GAAP Financial Measures
Mentor Graphics management evaluates and makes operating decisions using various performance measures. In addition to our GAAP results, we also consider adjusted gross margin, operating margin, net income (loss), and earnings (loss) per share which we refer to as non-GAAP gross margin, operating margin, net income (loss), and earnings (loss) per share, respectively. These non-GAAP measures are derived from the revenues of our product, maintenance, and services business operations and the costs directly related to the generation of those revenues, such as cost of revenue, research and development, sales and marketing, and general and administrative expenses, that management considers in evaluating our ongoing core operating performance. These non-GAAP measures exclude amortization of intangible assets, special charges, equity plan-related compensation expenses and charges, interest expense attributable to net retirement premiums or discounts on the early retirement of debt and associated debt issuance costs, interest expense associated with the amortization of debt discount and premium on convertible debt, impairment of long-lived assets, impairment of cost method investments, and the equity in income or losses of unconsolidated entities, which management does not consider reflective of our core operating business.