Mentor Graphics revenues grew to $307.3m for the fiscal fourth quarter ending 31 January 2011, an increase of 29.6% compared to $237.1m of the same period last fiscal.
Revenue from system and software increased by 40.45% to $216.3m compared to $154m for the same period last year.
Service and support revenue increased by to $91m for the fourth quarter compared from $83.3m for the same quarter previous fiscal year.
For the fourth quarter, the company posted an operating income of $56m, as compared to an operating income of $23.7m for the same period last year.
Mentor Graphics reported a net income of $49.1m and $0.43 per diluted share, as compared to a net income of $39.3m and $0.39 per diluted share, for the same period in the last fiscal.
For the fiscal 2011, the company’s total revenues increased to $914.8m from $802.7m for the previous fiscal year 2010.
The company posted a net income of $27.1m or $0.25 gain per share in FY11, compared to a net loss of $21.9m or $0.23 loss per share in the FY10.
Mentor Graphics president Gregory Hinckley said cost controls remain an intense focus at the company and they have reduced selling, general and administrative (SG&A) expenses as a percent of revenue by five hundred basis points over the last two years, and are on track to reduce it another two hundred basis points this fiscal year.
For the first quarter of 2012, the company is expecting revenue of about $225m and earnings per share (EPS) of about $0.06.
