WILSONVILLE, Ore.--Mentor Graphics Corp. today reported a 4.3% increase in total revenues to $128.1 million in the first quarter of 2000 compared to $122.6 million in the same period last year.
Mentor's system and design software revenues slipped slightly to $72.6 million vs. $72.7 million in the first quarter last year, but service and support revenues were up 10.3% to $55.5 million compared to $49.8 million a year ago.
The Wilsonville design automation supplier posted a net income of $10.4 million, or $0.16 per share, in the first quarter of 2000 vs. a net loss of $8.4 million, or -$0.13 per share, last year. The first-quarter earnings beat Wall Street's consensus of $0.9 per share, based on a survey of financial analysts by First Call/Thomson Financial.
Mentor said its backlog reached record levels in the first quarter and bookings were 15% higher than the previous three-month period. "We continue to see strength across our business as customers move to the next generation design tools we offer," declared Walden C. Rhines, president and CEO of Mentor.