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Mentor revenues up 12%, Synplicity flat

Posted: 06 Feb 2007 ?? ?Print Version ?Bookmark and Share

Keywords:EDA? verification? Mentor Graphics? Synplicity? Richard Goering?

Mentor Graphics Corp. announced a Q4 revenue gain of 11 percent over the prior year, with overall 2006 revenue up 12 percent. Synplicity Inc., however, had virtually flat revenue growth for Q4and the year.

Mentor's Q4 revenue was $246.2 million, compared to $221.2 million in the prior year quarter. Overall 2006 revenue was $791 million, compared to $705 million in 2005. On a GAAP basis, earnings for Q4 were 36 cents per share, and earnings for 2006 were 33 cents per share.

Wally Rhines, Mentor CEO, said in a statement that 2006 "was a great year across all of our product lines." He said that growth was particularly strong in functional verification, physical verification, and yield enhancement. In Q4, Mentor claims that bookings more than doubled year-over-year in functional verification, and were up 35 percent for the year.

Mentor is moving to a new fiscal year ending January 31st, and will commence its 2008 fiscal year Feb. 1, 2007. For full fiscal 2008, the company expects revenue of around $830 million, GAAP earnings per share of 69 cents, and non-GAAP earnings per share of 95 cents.

Mentor's 2006 revenue growth appears generally in line with the EDA industry. Last fall Gartner Dataquest predicted 2006 EDA revenue growth of 13.3 percent. Earlier this week, Cadence Design Systems announced 12 percent revenue growth for 2006.

Meanwhile, Synplicity is not doing so well. It announced revenue for Q4 of $16.4 million, compared to $16.3 million in the prior year quarter. 2006 revenue was $62.5 million, a scant rise from $61.9 million in 2005. One factor cited by Synplicity was its exit from the ASIC synthesis market in 2006, resulting in a 26 percent revenue decline in its ASIC business.

Gary Meyers, Synplicity president and CEO, noted in a statement that the company refocused on its core FPGA tool business in 2006, and cited "cautious spending" by some North American customers. For 2007, the company is expecting revenue from $65 million to $67 million.

- Richard Goering
EE Times




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