Mentor Graphics Reports Fiscal Fourth Quarter Results and

Mentor Graphics Reports Fiscal Fourth Quarter Results and Announces 11% Dividend Increase


MENTOR GRAPHICS CORPORATION
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS AND SUPPLEMENTAL INFORMATION
(In thousands, except days sales outstanding)


	Three Months Ended January 31,						Twelve Months Ended January 31,
		2014			2013			2014			2013
Operating activities
Net income	$	105,107		$	61,483		$	153,558		$	138,634
Depreciation and amortization		13,047			13,350			52,454			53,551
Other adjustments to reconcile:
Operating cash		12,365			6,042			35,471			20,352
Changes in working capital		(44,843	)		5,540			(91,781	)		(73,250	)

Net cash provided by operating activities		85,676			86,415			149,702			139,287

Investing activities
Net cash used in investing activities		(23,893	)		(23,262	)		(56,375	)		(60,782	)

Financing activities
Net cash provided by (used in) financing activities		13,128			2,079			(21,007	)		1,943

Effect of exchange rate changes on cash and cash equivalents		(1,496	)		(1,179	)		(2,781	)		(3,164	)

Net change in cash and cash equivalents		73,415			64,053			69,539			77,284
Cash and cash equivalents at beginning of period		219,907			159,730			223,783			146,499

Cash and cash equivalents at end of period (a)	$	293,322		$	223,783		$	293,322		$	223,783



Other data:
Capital expenditures	$	9,395		$	9,555		$	30,761		$	45,130
Days sales outstanding		102			112


(a) The condensed consolidated balance sheet at January 31, 2014 includes $3,990 of short-term investments in the "Cash, cash equivalents, and short-term investments" line item. $3,990 should be deducted from that line item to reconcile to the amount of "Cash and cash equivalents at end of period" presented in this statement for the three and twelve months ended January 31, 2014.

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