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Mentor Graphics Cuts Guidance as Business Slows

in News on November 11, 2008 at 6:07 am PT

Mentor Graphics, a provider of chip design software, has reduced the outlook for the second half of its fiscal year based on slowing customer activity. According to CEO Walden Rhines, customers are waiting until much closer to the expiration of contracts to renew in this much slower market. The company expects some large contracts to renew over the next few quarters–and to have a stronger FY 2010 than FY 2009.