Mentor Graphics Provides Second Quarter Outlook
4/28/2003 - Mentor Graphics Corporation (Nasdaq: MENT) provided the outlook for the second quarter and balance of 2003.
For second quarter 2003, Mentor expects revenues between $156 and $162 million and earnings of between $0.06 and $0.11 per share, before amortization of acquired intangibles and special charges. GAAP earnings are expected to be $0.02 to $0.07 per share. Gross margin excluding amortization of acquired intangibles is expected to be approximately 84 percent, while gross margin on a GAAP basis is expected to be in the range of 82 to 83 percent. Operating expense excluding amortization of acquired intangibles should be approximately $123 million, up 2 percent sequentially. Operating expense on a GAAP basis is expected to be about $124 million. OI&E will be about a $3 million expense. The tax rate should remain at 20 percent and diluted shares outstanding are expected to be 69 million.
For 2003, full-year guidance remains unchanged, with revenues of $665 million, earnings before amortization of acquired intangibles and special charges of $.55 per share and GAAP earnings of $.39 per share.
About Mentor Graphics
Mentor Graphics Corporation (Nasdaq: MENT) is a world leader in electronic hardware and software design solutions, providing products, consulting services and award-winning support for the world's most successful electronics and semiconductor companies. Established in 1981, the company reported revenues over the last 12 months of about $600 million and employs approximately 3,500 people worldwide. Corporate headquarters are located at 8005 S.W. Boeckman Road, Wilsonville, Oregon 97070-7777; Silicon Valley headquarters are located at 1001 Ridder Park Drive, San Jose, California 95131-2314. World Wide Web site: www.mentor.com.
In the calculation of earnings, gross margin and operating expenses before amortization of acquired intangibles and special charges, Mentor Graphics excludes amortization of acquired intangibles and write-offs of in-process R&D from acquisitions. Also excluded are non-operating and non-recurring items classified as special charges such as restructure expenses and asset impairments. Mentor Graphics believes that excluding these items provides investors with a representation of its core performance, and a pro forma base line for assessing the future earnings potential of Mentor Graphics.
Mentor Graphics is a registered trademark of Mentor Graphics Corporation.
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