Mentor Graphics revenues grew to $230.04m for the fiscal first quarter ending 30 April 2011, compared to $180.6m of the same period last fiscal.
Revenue from system and software increased to $140m from $97.4m and service and support revenue increased to $90.4m for the first quarter compared from $83.1m for the same quarter previous fiscal year.
For the first quarter, the company posted an operating income of $16.2m, as compared to an operating loss of $15m for the same period last year.
Mentor Graphics reported a net loss of $2.4m and $0.02 per diluted share, as compared to a net loss of $23m and $0.22 per diluted share, for the same period in the last fiscal.
Mentor Graphics president Gregory Hinckley said the company is well on track to achieve their full year goal of a non-GAAP operating margin of 15% of revenues.
"Looking forward, we will extend our cost-cutting efforts with further consolidations of facilities and IT, while we continue to raise the bar on commission and variable compensation expense to further align rewards with increasing shareholder value," Hinckley said.
For the second quarter of 2012, the company is expecting revenue of about $210m and non-GAAP earnings per share (EPS) of about $0.05.
