WILSONVILLE, OR – Mentor Graphics reported third-quarter revenues of $250.5 million, up 4.9% year-over-year.

 The company posted a third-quarter profit of $24.1 million, up nearly 58% year-over-year.

“Bookings were again a record, up over 20% from the previous third quarter record, and for the second consecutive year, our book-to-bill through the third quarter is positive,” said Walden C. Rhines, chairman and CEO of Mentor Graphics. “This quarter saw the beginning of the strength we predicted in our Design to Silicon category for the second half, with bookings in the third quarter up year-on-year by over 55%, and by about 15% year-to-date. Looking forward, we expect the technical challenges of advanced nodes to drive significant opportunity for us.”

During the quarter, the company expanded the Valor product line with a new business intelligence product. The Mentor Nucleus real-time operating system was upgraded to include new power management technology. The company also advanced its embedded systems software suite for automobile infotainment with a GENIVI compliant-product and a partnership with Freescale Semiconductor.

The firm said it now expects 48% of annual non-GAAP earnings to occur in the fourth quarter.

For the fourth quarter, Mentor expects revenues of about $316 million. For the full fiscal year, ending Jan. 31, 2012, the company expects revenues of $1.01 billion.

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