PCB Tools Drive Mentor to Q2 Bookings High
WILSONVILLE, OR — Mentor Graphics on Thursday reported flat second-quarter revenues of $182.6 million while the net loss increased 20.4% to $21.2 million.
The company beat the consensus estimate of $165.8 million for the period ended July 31.
For the quarter, product revenue was up 10% and services, including maintenance, fell 10%.
Bookings rose 15% sequentially, a company record for the second quarter. The recovery was broadly based, with PCB and FPGA sales leading the way. "Integrated business designs, which includes our printed circuit board and field programmable gate arrays design software, was up 20%," president Greg Hinckley said on a conference call with analysts.
“The quarter’s strong bookings performance was driven by new customers and new products. Though the business climate is still difficult, we did see strong sequential increases in consulting and distributor bookings during the quarter, both signs we take as indicators of an improving customer environment,” said Walden C. Rhines, CEO and chairman.
During the quarter, Mentor released its PADS 9.0 printed circuit board flow, which incorporates new collaboration, manufacturing and analysis tools. IT also company closed its acquisition of LogicVision, a supplier of built-in-self-test tools.
Mentor guided for third-quarter revenue of about $183 million. The company expects to take a loss during the quarter.
