Mentor reports preliminary 2004 results
Jan 17, 2005
Q4 revenue and bookings hit records on 40% bookings growth
In anticipation of a presentation at the Seventh Annual Needham & Co. Growth Conference, Mentor Graphics Corporation announced that its fourth quarter 2004 bookings and revenues had achieved record levels, with revenues expected to exceed Thomson First Call consensus estimates of $204 million. Bookings for the fourth quarter were up about 40%, year over year. The company also grew backlog significantly, up approximately 35% from the fourth quarter of 2003. Fourth quarter special charges are expected to result in GAAP basis earnings below guidance. Earnings per share on a pro forma basis are expected to modestly exceed consensus estimates.
Fourth quarter bookings performance was broad-based across all regions and product lines, and not driven by any particular large transactions. All regions performed well with bookings in North America up 15%, Europe up 50%, and Japan and the Pacific Rim both up over 100% over the fourth quarter of 2003.
The company emphasized that the foregoing results are preliminary and are subject to adjustments upon final closing of financial results and completion of the annual audit by independent accountants. Mentor Graphics will release fourth quarter and full year 2004 results after the close of the market on Thursday, January 27, 2005.