WASHINGTON Mentor Graphics Corp. reported third-quarter revenues totaling $186.3 million, but quarterly earnings fell by 10 cents per share.
Mentor (Wilsonville, Ore.) also reported Thursday (Nov. 29) that non-GAAP earnings were "break-even" and that bookings rose over 10 percent year-on-year.
Mentor Chairman and CEO Walden Rhines said in a statement that quarterly bookings were "strong," and that contract renewals "among our ten largest orders increased 50 percent over the corresponding prior contract."
Added Rhines: "Unfortunately, revenue timing issues on certain key orders impacted results for the quarter."
Quarterly bookings were strongest in Asia but down 15 percent year-on-year in Europe.
Mentor also reaffirmed its guidance for fiscal 2008 and 2009.
"We see mixed economic signals," Mentor president Gregory Hinckley added in a statement. "We see positive forward indicators like venture company funding to fabless semiconductor startups up sharply in the third quarter to the highest level since 2001."
Still, "our actual results highly depend upon the condition of the U.S. economy where risks in recent weeks seem to be growing. If the U.S. economy slows in the fourth quarter, our ability to meet guidance will be challenged," Hinckley added.