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Thursday, February 24, 2011

Mentor Graphics profit beats, sees strong FY12

Chip-design software maker Mentor Graphics Corp , which is being wooed by activist investor Carl Icahn, reported market-topping quarterly results boosted by a 40 percent growth in bookings, and forecast a strong fiscal 2012. Earlier this week, Icahn mounted a bid of about $1.73 billion for Mentor, hoping to allure potential suitors into coming forward with a better offer. Mentor, which competes with Synopsys Inc and Cadence Design Systems , posted a 25 percent rise in net income at $49.2 million, or 43 cents a share, while revenue jumped 30 percent. Excluding special items, it earned 48 cents per share.