Mentor Graphics Reports Fiscal First Quarter Results
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MENTOR GRAPHICS CORPORATION
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UNAUDITED CONSOLIDATED
STATEMENTS OF OPERATIONS
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(In thousands, except earnings per share data)
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Three Months Ended April 30,
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2009
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2008
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(As Adjusted)
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Revenues:
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System and software
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$
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115,418
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$
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96,843
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Service and support
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78,357
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82,364
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Total revenues
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193,775
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179,207
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Cost of revenues: (1)
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System and software
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4,889
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5,282
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Service and support
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21,203
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25,342
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Amortization of purchased technology
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2,948
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3,238
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Total cost of revenues
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29,040
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33,862
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Gross margin
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164,735
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145,345
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Operating expenses:
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Research and development (2)(b)
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62,291
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64,382
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Marketing and selling (3)
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76,601
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76,648
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General and administration (4)
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23,036
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23,061
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Other general expense (income), net
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388
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(164
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Amortization of intangible assets (5)
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2,870
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2,433
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Special charges (6)
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5,695
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9,650
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Total operating expenses
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170,881
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176,010
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Operating loss
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(6,146
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(30,665
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Other income, net (7)
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98
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2,375
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Interest expense (8)(a)
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(4,151
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(4,755
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Loss before income tax
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(10,199
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(33,045
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Income tax expense (benefit) (9)(b)
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2,757
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(7,549
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Net loss
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$
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(12,956
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$
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(25,496
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Net loss per share:
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Basic
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$
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(0.14
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$
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(0.28
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Diluted
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$
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(0.14
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$
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(0.28
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Weighted average number of shares outstanding:
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Basic
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94,168
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90,750
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Diluted
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94,168
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90,750
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Refer to following page for a description of footnotes.
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(a)
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For the April 30, 2008 presentation, Interest expense has been
adjusted for the retrospective adoption of FSP APB 14-1.
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(b)
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For the April 30, 2008 presentation, the French research and
development credit was reclassified from Income tax expense
(benefit) to Research and development. The reclassification was made
for consistency in presentation with the current year.
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