WILSONVILLE, Ore. (AP) _ Mentor Graphics Corp. (MENT) on Thursday reported fiscal fourth-quarter net income of $60.3 million.
The Wilsonville, Oregon-based company said it had profit of 51 cents per share. Earnings, adjusted for one-time gains and costs, were 63 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The provider of electronic hardware and software design products and services posted revenue of $337.3 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $335.8 million.
For the year, the company reported profit of $96.3 million, or 81 cents per share. Revenue was reported as $1.18 billion.
For the current quarter ending in May, Mentor Graphics said it expects revenue in the range of $220 million. Analysts surveyed by Zacks had expected revenue of $258.7 million.
The company expects full-year earnings to be $1.68 per share, with revenue expected to be $1.22 billion.
Mentor Graphics shares have risen 8.5 per cent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $19.99, a fall of 16 per cent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MENT at http://www.zacks.com/ap/MENT
Keywords: Mentor Graphics, Earnings Report