Mentor Graphics Results Trump Estimates; Lifts FY Guidance

(RTTNews) - Mentor Graphics Corp. (MENT) on Thursday reported second-quarter net earnings of $31.2 million or $0.26 per share compared with $14.2 million or $0.13 per share last year.

Excluding items, adjusted earnings for the quarter were $0.36 per share compared with $0.23 per share a year ago.

Revenues for the quarter were $281.1 million compared with $260.2 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.14 per share on revenues of $250.14 million for the quarter. Analysts' estimates typically exclude special items.

For the third quarter, the company expects adjusted earnings of about $0.27 per share on revenues of about $290 million. Analysts expect earnings of $0.33 per share on revenues of $301.3 million.

For the full year 2016, the company now expects adjusted earnings of $1.88 to about $1.90 per share on revenues of about $1.29 billion. Earlier it expected earnings of $1.88 to $1.85 per share on revenues of about $1.28 billion.

Analysts expect earnings of $1.88 per share on revenues of $1.28 billion for the year.

The company announced a quarterly dividend of $0.055 per share on outstanding common stock.