Mentor Graphics Reports Fiscal First Quarter Results and

Mentor Graphics Reports Fiscal First Quarter Results and Announces Dividend


MENTOR GRAPHICS CORPORATION
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except earnings per share data)


	Three Months Ended April 30,
	2013			2012
Revenues:
System and software	$	123,284		$	149,356
Service and support		103,231			98,562
Total revenues		226,515			247,918
Cost of revenues: (1)
System and software		8,899			14,790
Service and support		30,075			28,414
Amortization of purchased technology		1,207			2,179
Total cost of revenues		40,181			45,383
Gross profit		186,334			202,535
Operating expenses:
Research and development (2)		79,717			71,046
Marketing and selling (3)		79,107			79,752
General and administration (4)		18,277			16,649
Equity in earnings of Frontline (5)		(397	)		(587	)
Amortization of intangible assets (6)		1,654			1,706
Special charges (7)		2,083			1,147
Total operating expenses		180,441			169,713
Operating income		5,893			32,822
Other income (expense), net (8)		(959	)		83
Interest expense (9)		(4,785	)		(4,594	)
Income before income tax		149			28,311
Income tax expense (10)		568			781
Net income (loss)		(419	)		27,530
Less: Loss attributable to noncontrolling interest (11)		(624	)		(652	)
Net income attributable to Mentor Graphics shareholders	$	205		$	28,182
Net income per share attributable to Mentor Graphics shareholders:
Basic (a)	$	0.01		$	0.26
Diluted (a)	$	0.01		$	0.25
Weighted average number of shares outstanding:
Basic		112,711			109,907
Diluted		115,751			113,243

(a) We have increased the numerator of our basic and diluted earnings per share calculation by $468 for the three months ended April 30, 2013 for the adjustment to decrease the noncontrolling interest with redemption feature to its calculated redemption value at April 30, 2013, recorded directly to retained earnings.

Refer to following page for a description of footnotes.

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 Next Page »