Mentor Graphics announces record Q2 results

"Second quarter bookings were a record by a significant margin, up 25% from the previous record for a second quarter," noted Walden Rhines, company chairman and ceo. "Earnings per share were well ahead of guidance, further increasing our confidence in our outlook for the year." Mentor's results beat consensus analysts' expectations, which called for sales of $209m and non gaap earnings per share of $0.5. The company's Systems business was said to be a key driver of growth in the second quarter, while bookings from traditional pcb design software were up by nearly one third. "Record bookings for a second quarter and continued strong cost controls led to another excellent quarter for the company," added Mentor's president, Gregory Hinckley. "Leading indicators of the business remain very strong, with new customers up 15% in number and 35% in value over the previous second quarter. We see no slowdown in eda spending." For the third quarter, Mentor expects revenues of about $245million, non gaap earnings per share of about $0.21, and gaap earnings per share of approximately $0.18. For the full year, it expects revenues of approximately $1.004billion, non gaap earnings per share of about $1.03 and gaap earnings per share of approximately $0.68.