Mentor Graphics Reports Fiscal First Quarter Results and

Mentor Graphics Reports Fiscal First Quarter Results and Announces Quarterly Dividend


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


	Three Months Ended April 30,
	2015			2014
Revenues:
System and software	$	155,931		$	148,229
Service and support		116,212			103,922
Total revenues		272,143			252,151
Cost of revenues: (1)
System and software		13,624			26,971
Service and support		33,569			29,111
Amortization of purchased technology		1,858			1,361
Total cost of revenues		49,051			57,443
Gross profit		223,092			194,708
Operating expenses:
Research and development (2)		89,515			84,451
Marketing and selling (3)		84,951			84,634
General and administration (4)		17,963			17,682
Equity in earnings of Frontline (5)		(870	)		(1,379	)
Amortization of intangible assets (6)		2,219			1,750
Special charges (7)		36,977			5,926
Total operating expenses		230,755			193,064
Operating income (loss)		(7,663	)		1,644
Other income (expense), net (8)		342			(258	)
Interest expense (9)		(4,694	)		(4,585	)
Loss before income tax		(12,015	)		(3,199	)
Income tax benefit (10)		(1,512	)		(174	)
Net loss		(10,503	)		(3,025	)
Less: Loss attributable to noncontrolling interest (11)		(618	)		(474	)
Net loss attributable to Mentor Graphics shareholders	$	(9,885	)	$	(2,551	)
Net loss per share attributable to Mentor Graphics shareholders:
Basic ^a	$	(0.08	)	$	(0.02	)
Diluted ^a	$	(0.08	)	$	(0.02	)
Weighted average number of shares outstanding:
Basic		116,003			114,935
Diluted		116,003			114,935

^a We have increased the numerator of our basic and diluted earnings per share calculation for the adjustment of the noncontrolling interest with redemption feature to its calculated redemption value, recorded directly to retained earnings, as follows:


	$	269		$	667




Refer to description of footnotes below.

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