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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) | ||||||||||||||||||
| Three Months Ended July 31, | Six Months Ended July 31, | |||||||||||||||||
| 2009 | 2008 | 2009 | 2008 | |||||||||||||||
| Revenues: | ||||||||||||||||||
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System and software |
$ | 103,884 | $ | 95,830 | $ | 219,302 | $ | 192,673 | ||||||||||
| Service and support | 78,737 | 86,574 | 157,094 | 168,938 | ||||||||||||||
| Total revenues | 182,621 | 182,404 | 376,396 | 361,611 | ||||||||||||||
| Cost of revenues: (1) | ||||||||||||||||||
| System and software | 9,511 | 4,356 | 14,400 | 9,638 | ||||||||||||||
| Service and support | 20,518 | 24,030 | 41,721 | 49,372 | ||||||||||||||
| Amortization of purchased technology | 2,928 | 1,992 | 5,876 | 5,230 | ||||||||||||||
| Total cost of revenues | 32,957 | 30,378 | 61,997 | 64,240 | ||||||||||||||
| Gross margin | 149,664 | 152,026 | 314,399 | 297,371 | ||||||||||||||
| Operating expenses: | ||||||||||||||||||
| Research and development (2) | 60,843 | 64,251 | 123,134 | 128,633 | ||||||||||||||
| Marketing and selling (3) | 71,430 | 72,799 | 148,031 | 149,447 | ||||||||||||||
| General and administration (4) | 21,730 | 24,099 | 44,766 | 47,160 | ||||||||||||||
| Other general expense (income), net | 68 | (273 | ) | 456 | (437 | ) | ||||||||||||
| Amortization of intangible assets (5) | 2,888 | 2,537 | 5,758 | 4,970 | ||||||||||||||
| Special charges (6) | 4,202 | 3,235 | 9,897 | 12,885 | ||||||||||||||
| In-process research and development (7) | - | 15,285 | - | 15,285 | ||||||||||||||
| Total operating expenses | 161,161 | 181,933 | 332,042 | 357,943 | ||||||||||||||
| Operating loss | (11,497 | ) | (29,907 | ) | (17,643 | ) | (60,572 | ) | ||||||||||
| Other income (expense), net (8) | (356 | ) | 717 | (258 | ) | 3,092 | ||||||||||||
| Interest expense (9) (a) | (4,723 | ) | (4,404 | ) | (8,874 | ) | (9,159 | ) | ||||||||||
| Loss before income tax | (16,576 | ) | (33,594 | ) | (26,775 | ) | (66,639 | ) | ||||||||||
| Income tax expense (benefit) (10) | 4,690 | (15,796 | ) | 7,447 | (23,345 | ) | ||||||||||||
| Net loss | $ | (21,266 | ) | $ | (17,798 | ) | $ | (34,222 | ) | $ | (43,294 | ) | ||||||
| Net loss per share: | ||||||||||||||||||
| Basic | $ | (0.22 | ) | $ | (0.19 | ) | $ | (0.36 | ) | $ | (0.48 | ) | ||||||
| Diluted | $ | (0.22 | ) | $ | (0.19 | ) | $ | (0.36 | ) | $ | (0.48 | ) | ||||||
| Weighted average number of shares outstanding: | ||||||||||||||||||
| Basic | 94,853 | 91,352 | 94,514 | 91,054 | ||||||||||||||
| Diluted | 94,853 | 91,352 | 94,514 | 91,054 | ||||||||||||||
| Refer to following page for a description of footnotes. | ||||||||||||||||||
| (a) For the July 31, 2008 presentation, Interest expense has been adjusted for the retrospective adoption of FSP APB 14-1. | ||||||||||||||||||
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Mentor Graphics Reports Fiscal Second Quarter Results
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