WILSONVILLE, OR – Mentor Graphics reported fiscal first quarter revenues of $228 million, down 16.4% year-over-year.

The company posted a net loss of $13.4 million for the period ended Apr. 30, compared to a loss of $10.5 million in the same quarter last year.

“Mentor modestly exceeded guidance for the first quarter, although weakness in semiconductor-related activity continued,” said Walden C. Rhines, chairman and CEO of Mentor Graphics. “Bookings and revenue from automotive customers set a first quarter all-time record. Mentor’s customer breadth and our range of system design products and services continue to be an advantage.”

“We have a strong portfolio of system companies renewing in fiscal 2017,” said Gregory K. Hinckley, president of Mentor Graphics. “We are increasing our second quarter revenue guidance and continue our rigorous attention to expense control.”

During the quarter, Mentor announced the Open Manufacturing Language (OML) for printed circuit board assembly.

For the second quarter, the company now expects revenues of about $245 million. For fiscal 2017, the company affirmed revenues of about $1.22 billion.

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