logo
Plus   Neg
Share
Email

Mentor Graphics Profit Rises; Details Weak FY Outlook; Stock Down - Quick Facts

Mentor Graphics Corp. (MENT) Thursday reported net income of $61.7 million or $0.49 per share for the fourth quarter of fiscal year 2013, compared with $57.8 million or $0.52 per share a year earlier.

Earnings per share results for the quarter reflect a higher share count.

Excluding items, adjusted earnings for the quarter were $66 million, compared with $64.7 million a year ago. On a per share basis, earnings were flat at $0.58.

Revenues for the quarter were $331 million, compared with $320 million a year ago.

Analysts polled by Thomson Reuters estimated earnings of $0.55 per share on revenues of $343.18 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the first quarter of fiscal year 2014, the company expects GAAP earnings to be about breakeven, adjusted earnings of about $0.05 per share, and revenues of about $225 million.

Analysts currently expect earnings of $0.21 per share on revenues of $241.67 million for the first quarter.

For the full year 2014, the company estimates GAAP earnings of about $1.41 per share, adjusted earnings of about $1.53 per share, and revenues of about $1.155 billion. Analysts currently expect earnings of $1.59 per share on revenues of $1.17 billion.

Shares of the company are losing 4.4 percent in after-hours trade on the Nasdaq.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
With sales by online retailers accounting for an increasing share of consumer spending, the U.S. Supreme Court has handed states a major victory in their efforts to boost revenue from sales tax. In a 5 to 4 ruling published Thursday, the Supreme Court sided with South Dakota in a case against online... AT&T Inc., which recently completed its acquisition of Time Warner Inc., has launched its new "WatchTV" streaming service with two unlimited data plans. In addition, WatchTV can be streamed through the WatchTV app. The two data plans - AT&T Unlimited &More and AT&T Unlimited &More Premium - are scheduled to launch next week. WatchTV features more than 30 live channels. Tesla Inc. has filed a lawsuit against a former employee, alleging that he stole the company's confidential data and transferred the information to third parties. The lawsuit accuses the former employee, Martin Tripp, of unlawfully hacking Tesla's confidential and trade secret information as well as transferring the information to third parties. The lawsuit was filed in a federal court in Nevada.
Follow RTT