Mentor Graphics Corp MENT released its Q2 results after market close on Thursday. Earnings per share came in above Wall Street consensus expectations.
Mentor Graphics reported EPS of $0.15 and revenues of $254 million. Analyst consensus had an EPS estimate of $0.09 and revenues of $245.2 million.
Mentor Graphics saw Q3 Sales at $310 million vs. estimates of $309.6 million and Q3 EPS of 0.42 vs. estimates of $0.41. Additionally, the company saw FY16 EPS of $1.215 billion vs. estimates of $1.22 billion and EPS of $1.68 vs. $1.68 estimates.
"Emulation was strong this quarter, as we did business with more than 20 customers including four new logos, and reinforced our lead in networking applications. In addition, automotive products had another strong bookings quarter," said Walden Rhines, CEO.
"System company renewals were strong in the second quarter, partly offsetting merger and acquisition-related weakness in the semiconductor industry, and we have a large portfolio of system company renewals in the coming quarters," said Gregory K. Hinckley.
Mentor Graphics closed at $22.16 in Thursday's session.
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