WILSONVILLE, OR – Mentor Graphics reported second quarter revenues of $254.3 million, a decrease of 9.5% year-over-year.

Net income for the period ended July 31 was $3.4 million, compared to $30.6 million in the same quarter last year.

The firm posted second quarter operating income of $6.3 million, down from $39.3 million in the prior year period.

“Mentor’s second quarter results exceeded revenue and earnings-per-share guidance,” said Walden C. Rhines, chairman and CEO of Mentor Graphics. “Emulation was strong this quarter, as we did business with more than 20 customers, including four new logos, and reinforced our lead in networking applications. In addition, automotive products had another strong bookings quarter.”

For the six months ended July 31, Mentor recorded revenues of $482 million, down 12.9% year-over-year. The firm posted a net loss of nearly $10 million, compared to net income of $20.1 million in the same period last year. Operating loss was $5.8 million, compared to operating income of $31.6 million in the same six-month period of 2015.

For the third quarter, the company expects revenues of about $310 million. Mentor reaffirmed its expected annual revenue guidance of about $1.215 billion.

 
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