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Mentor Reports Loss of $9.1M in Q3
Written by Administrator
Friday, 30 November 2007
WILSONVILLE, OR – Mentor Graphics’s third-quarter revenues were $186.3 million, with a loss of $9.1 million. Revenues for the quarter were down nearly 2.3% year-over-year.
Year-to-date revenues were $582.5 million, with a loss of $7 million, compared with revenue of $545.3 million, with a loss of $3.8 million, in the same period last year.
Bookings for the third quarter were up more than 10% year-over-year.
“Bookings were a record for any non-fourth quarter. Contract renewals among our 10 largest orders increased 50% over the corresponding prior contract,” said Walden C. Rhines, chairman and CEO.
“Unfortunately, revenue timing issues on certain key orders impacted results for the quarter,” he added.
Compared to the same quarter last year, scalable verification bookings were up 25%; new and emerging bookings were up 35%; integrated systems design bookings were flat, and IC design to silicon bookings were down 5%.
Year-over-year bookings for Pacific Rim were up 35%; for North America, up 25%; for Japan, up 5%, and for Europe, bookings were down 15%, says Mentor.
For fiscal 2008, the company expects revenue of $860 million. Preliminary guidance for fiscal 2009 is for revenues of $920 million.
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