News
WILSONVILLE, OR, Oct. 21 -- Mentor Graphics today announced third-quarter revenues rose 3% year-on-year to $162 million while cutting its net loss in half, to $6 million.
Separately, the company guided for sales of $205 million in the December quarter.
The GAAP loss was the result of special charges for in-process R&D associated with the acquisition of In Design Automation, Mentor said.
"Although growth in the third quarter was slow, it was primarily due to the timing of major orders," said Wally Rhines, chairman and CEO.
Bookings grew 2% in the quarter although the book-to-bill was below 1.0. Rhines said year-to-date bookings have grown 8% and Mentor expects record fourth-quarter and full-year bookings.
Bookings in the Pacific Rim climbed 20%, while North America was up 5%. Europe slipped 10% and Japan was flat, although the latter's bookings are strong by historical levels.
Forty percent of the company's sales were in the Americas, 30% in Europe, 20% in Japan, and 10% in the Pacific Rim.
Pro forma gross margin was 86%. Gross margin on a GAAP basis was 84%.
Mentor (www.mentor.com) is leading supplier of PCB design tools.
SAN JOSE, Oct. 20 — Cadence Design Systems announced revenue for its third quarter was $302 million, up from $269 million last year.
On a GAAP basis, Cadence realized net income of $20 million, compared to a net loss of $14 million, last year.
Non-GAAP earnings were $52 million, versus $34 million last year.
LONDON, Oct. 7 -- Cookson Group plc today promoted Steve Corbett to chief executive of its Electronics division, replacing Ray Sharpe, who left the company last summer. The company also announced a shakeup in its laminates division.
Corbett was chief executive of Enthone, Cookson's successful chemistries division. He reports to Nick Salmon, chief executive of Cookson Group.
Corbett will oversee Enthone (the most profitable of the Cookson Electronics' business sectors), the Assembly Materials divisional head office and R&D.
Cookson's laminates group, known familiarly as Polyclad Technologies, will continue to report to Salmon. Polyclad is in the midst of a restructuring program, Cookson said.
Corbett joined Cookson Electronics in 1990 and has held a number of senior positions within the Assembly Materials and Chemistry businesses. He has been Chief Executive of Enthone since 2002.
Polyclad, meanwhile, continues to recover from the effects of the global downturn but has returned to profitability, according to Cookson. The division will continue to report to Salmon for the near term.
Joe Santolucito, chief executive of Polyclad, is leaving the company. Cookson named Rick Richesin, Polyclad's COO, as his successor. Richesin joined Polyclad in 1985 and spent six years as managing director of Polyclad Asia in China and Hong Kong.
In a statement, Nick Salmon said Corbett's "broad ranging experience of our markets and businesses, including his firsthand knowledge of Asia-Pacific, will be invaluable in driving the division forward."
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