Mentor Graphics Q3 Results Top Estimates

(RTTNews) - Mentor Graphics Corp. (MENT) reported net income for the third quarter of $21.0 million or $0.18 per share, compared to $25.5 million or $0.20 per share for th year-ago quarter.

Excluding items, adjusted net income for the third quarter was $39.9 million or $0.34 per share, compared to $37.3 million or $0.32 per share in the prior year quarter.

Total revenue for the third quarter rose to $292.68 million from $275.64 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.21 per share on revenue of $275.93 million for the third quarter. Analysts' estimate typically excludes special items.

Looking forward to the fourth quarter, the company expects revenues of about $425 million, earnings per share of about $1.01 and adjusted earnings per share of about $1.07. Analysts currently expect the company to earn $1.19 per share on revenue pf $449.73 million for the fourth quarter.

For the full year fiscal 2015, the company now expects revenues of about $1.23 billion, earnings per share of about $1.31 and adjusted earnings per share of about $1.75. Previously, the company expected revenues of about $1.24 billion, earnings of about $1.37 per share and adjusted earnings of $1.75 per share. Analysts currently expect fiscal year 2015 earnings of $1.75 per share on revenues of $1.24 billion.