Mentor Graphics Slips To Loss In Q1; Issues Q2 Outlook

(RTTNews) - Mentor Graphics Corp. (MENT) Thursday reported first-quarter net loss to company shareholders of $2.6 million or $0.02 per share, compared to net income of $205 thousand or $0.01 per share in the comparable quarter last year.

Non-GAAP net income attributable to company shareholders were $13.2 million or $0.11 per share, same as last year. On average, eight analysts polled by Thomson Reuters expected the company to earn $0.06 per share for the quarter. Analysts' estimates typically exclude special items.

Sales increased to $252.15 million from $226.52 million last year, while eight analysts expected revenues of $245.90 million.

Looking ahead to the second quarter, the company expects to report earnings per share of approximately $0.07, adjusted earnings of $0.15 per share and revenues of about $$250 million.

Analysts currently expect the company to earn $0.20 per share on second-quarter revenues of $257.71 million.

For the fiscal year 2015, the company now expects GAAP earnings per share of approximately $1.46, down from its prior range of $1.50 per share. The company continues to expect adjusted earnings of $1.75 per share and revenues of about $1.24 billion.

Analysts currently expect the company to report full-year 2015 earnings of $1.76 per share, on revenues of $1.24 billion.

Further, the company announced a quarterly dividend of $0.05 per share, payable on June 30, 2014 to shareholders of record as of the close of business on June 10, 2014.