WILSONVILLE, OR -- Mentor Graphics, locked in a struggle with top shareholder Carl Icahn for control of the company, went on the offensive today, reporting preliminary results for its fiscal first quarter ended April 30.

The company expects first quarter revenue of about $230 million, up 25% from last year and besting company guidance. The company expects a GAAP loss in the range of two to six cents per share driven primarily by non-cash charges associated with debt retirement.

Bookings were up 7% over last year. The GAAP operating margin was about 8%.

The printed circuit board and semiconductor design software company reported revenues of $180.6 million in the year ago quarter.

In a rebuke to Carl Icahn, the company's largest shareholder, who is pushing for three handpicked individuals to be named to the company's board, chairman and CEO Wally Rhines said, " "Our strategy is working. The momentum in our business continued into the first quarter with strong growth in revenues and bookings. The strength of our first quarter gives us further confidence in our outlook for this fiscal year."

The company will report full fiscal first quarter results on May 27. Its annual shareholder's meeting takes place next week.

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