Mentor Graphics Cuts Guidance as Business Slows

Mentor Graphics (MENT) this morning said slowing customer activity has reduced the outlook for the second half of its fiscal year. For FY Q3 ended Oct. 31, the company now sees revenue of $185 million with a non-GAAP loss of five cents a share. Street expectations had been for revenue of $215.1 million and profits of 15 cents a share.

For the fiscal fourth quarter ending Jan. 31, the provider of chip design software sees revenue of $270 million and non-GAAP profits of 55 cents a share. The Street had been looking for $318.6 million and 93 cents.

In a statement, CEO Walden Rhines said that customers had historically negotiated contracts one-to-two quarters before expiration of their contracts.

Read the rest of this post


Must-Reads from other Websites

Panos Mourdoukoutas

Why Apple Should Buy China’s Xiaomi

Paul Graham

What I Didn’t Say

Benjamin Bratton

We Need to Talk About TED

Mat Honan

I, Glasshole: My Year With Google Glass

Chris Ware

All Together Now

Corey S. Powell and Laurie Gwen Shapiro

The Sculpture on the Moon

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other websites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Read more »