Mentor Graphics Reports Fiscal First Quarter Results



MENTOR GRAPHICS CORPORATION
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except earnings per share data)


			Three Months Ended April 30,
			2009			2008
						(As Adjusted)
Revenues:
	System and software		$	115,418		$	96,843
	Service and support			78,357			82,364
		Total revenues		193,775			179,207
Cost of revenues: (1)
	System and software			4,889			5,282
	Service and support			21,203			25,342
	Amortization of purchased technology			2,948			3,238
		Total cost of revenues		29,040			33,862
		Gross margin		164,735			145,345
Operating expenses:
	Research and development (2)(b)			62,291			64,382
	Marketing and selling (3)			76,601			76,648
	General and administration (4)			23,036			23,061
	Other general expense (income), net			388			(164	)
	Amortization of intangible assets (5)			2,870			2,433
	Special charges (6)			5,695			9,650
		Total operating expenses		170,881			176,010
Operating loss				(6,146	)		(30,665	)
	Other income, net (7)			98			2,375
	Interest expense (8)(a)			(4,151	)		(4,755	)
	Loss before income tax			(10,199	)		(33,045	)
	Income tax expense (benefit) (9)(b)			2,757			(7,549	)
		Net loss	$	(12,956	)	$	(25,496	)
	Net loss per share:
		Basic	$	(0.14	)	$	(0.28	)
		Diluted	$	(0.14	)	$	(0.28	)
	Weighted average number of shares outstanding:
		Basic		94,168			90,750
		Diluted		94,168			90,750

	Refer to following page for a description of footnotes.

	(a)	For the April 30, 2008 presentation, Interest expense has been adjusted for the retrospective adoption of FSP APB 14-1.
	(b)	For the April 30, 2008 presentation, the French research and development credit was reclassified from Income tax expense (benefit) to Research and development. The reclassification was made for consistency in presentation with the current year.

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