The EDA and MCAD/MCAE Almanac -Nominal Q3 2011

MAGMA, Synopsys and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from MAGMA's stockholders in connection with the proposed transaction. Information regarding MAGMA's directors and executive officers is contained in MAGMA's proxy statement for its 2011 Annual Meeting of Stockholders, which was filed with the SEC on August 29, 2011. This document is available free of charge in the manner described above. Information about Synopsys' directors and executive officers is set forth in Synopsys' proxy statement for its 2011 Annual Meeting of Stockholders, which was filed with the SEC on February 10, 2011, and its Annual Report on Form 10-K for the year ended October 31, 2010, which was filed with the SEC on December 17, 2010. These documents are available free of charge at the SEC's web site at www.sec.gov, and from Synopsys by contacting Investor Relations by mail at Synopsys, Inc., 700 East Middlefield Road, Mountain View, CA 94043, Attn: Investor Relations Department, or by going to Synopsys' Investor Relations page on its corporate web site at www.synopsys.com. Additional information regarding the interests of MAGMA's directors and executive officers who may be deemed to be participants in the solicitation of proxies in connection with the transaction, including their respective interest in the transaction by security holdings or otherwise, will be set forth in a definitive proxy statement that MAGMA intends to file with the SEC.

MAGMA self description

Leading semiconductor companies worldwide use MAGMA's electronic design automation (EDA) software to produce chips for a wide variety of vertical markets including tablet computing, mobile devices, electronic games, digital video, networking, military/aerospace and memory. Silicon One, MAGMA's technology solutions for emerging silicon, address time to market, product differentiation, cost and performance while making silicon more profitable. MAGMA products include software for digital design, analog implementation, mixed-signal design, physical verification, circuit simulation, characterization and yield management. The company maintains headquarters in San Jose, Calif., and offices throughout North America, Europe, Japan, Asia and India. MAGMA's stock trades on NASDAQ under the ticker symbol LAVA. Visit MAGMA Design Automation on the Web at www.magma-da.com.

MAGMA and Talus are registered trademarks and FineSim, QCP and Tekton are trademarks of MAGMA Design Automation Inc. All other product, company and institution names are trademarks or registered trademarks of their respective owners

Rise from ~$5.50 to above $7.00 occurred following merger news.


On November 17, 2011 Mentor Graphics Corporation (NASDAQ: MENT) announced financial results for the company’s fiscal third quarter ended October 31, 2011. For purposes of consistency, the EDA WEEKLY treats this time period as nominal Q3 2011.

For nominal Q3 2011, the company reported revenues of $250.508 million, GAAP net income of $24.071 million, and GAAP earnings per share of $.22.

Guidance provided three months ago called for $245 million in Q3 2011 revenue and for GAAP earnings per share of $0.18.

The Q3 2011 results compare to Q3 2010 revenues of $238.937 million, $15.257 million in GAAP net income, and $0.14 in GAAP earnings per share.

In the just prior Q2 2011, the company had reported $213.740 million in revenues, $4.334 million in GAAP net income, and $0.04 in GAAP EPS.

“Bookings (quantity not provided) in Q3 2011 were again a record, up over 20% from the previous third quarter record, and for the second consecutive year our book-to-bill through the third quarter is positive,” said Dr. Walden C. Rhines, chairman and CEO of Mentor Graphics. “This quarter saw the beginning of the strength we predicted in our 'Design to Silicon' category for the second half, with bookings in the third quarter up year-on-year by over 55%, and by about 15% year to date. Looking forward, we expect the technical challenges of advanced nodes to drive significant opportunity for us.”


Dr. Rhines

During the quarter, important accomplishments were many. (1) The company expanded its Valor® product line with a new business intelligence product. (2) The Mentor® Nucleus® real-time operating system was upgraded to include new power management technology, making it an even more compelling solution for mobile computing and telecommunication. (3) The company also advanced its embedded systems software suite for automobile 'infotainment' with a GENIVI compliant product and a partnership with Freescale Semiconductor. (4) ARM and Mentor announced a joint manufacturing test solution for ARM processor-based designs.

(5) NuFlare Technology and Mentor announced a partnership on advanced IC mask generation. (6) The company announced improvements to its design-for-test products that will allow these products to find new classes of chip defects. (7) GlobalFoundries and Mentor announced new support for GlobalFoundries’ third generation design sign-off for leading-edge IC manufacturing. (8) The Mentor transportation Capital® product suite won an “EDN Hot 100 products of 2011” award.

“Leading indicators for the business continued to be strong, with third quarter 'support declines' down and consulting and training bookings doubling. Annual fees for renewing contracts in the top ten transactions were up 40% over their prior annual fees. Base business, contracts below $1 million in value that booked and billed in the quarter, grew 15% over last year,” said Gregory K. Hinckley, president of Mentor Graphics. “The company’s earnings have historically been very back-end loaded with much of our business closing in the fourth quarter. For the last several years, we have been working with our customers to create more linearity in our financial results, and are pleased with the progress we have been showing. With our newly raised guidance, we now expect 48% of annual non-GAAP earnings to occur in the fourth quarter this fiscal year, compared to 69% in Fiscal 2011.”

Greg Hinckley

Business Outlook

For the fourth quarter, the company expects revenues of about $316 million and GAAP earnings per share of $.46.

For the full fiscal year, ending January 31, 2012, the company expects revenues of $1.01 billion and GAAP earnings per share of $.69.

Fiscal Year Definition

The Mentor Graphics fiscal year runs from February 1 to January 31. The fiscal year is dated by the calendar year in which the fiscal year ends. As a result, the first three fiscal quarters of any fiscal year will be dated with the next calendar year, rather than the current calendar year.

Reminder

The entire EDA WEEKLY of July 25, 2011, entitled, “Back to the Future,” was devoted to a specific Division of MGC; here is the URL in case you missed that article:

http://www10.edacafe.com/nbc/articles/view_weekly.php?articleid=980675

Mentor Graphics self description

Mentor Graphics Corporation is a world leader in electronic hardware and software design solutions, providing products, consulting services and award-winning support for the world’s most successful electronic, semiconductor and systems companies. Established in 1981, the company reported revenues in the last fiscal year of about $915 million. Corporate headquarters are located at 8005 S.W. Boeckman Road, Wilsonville, Oregon 97070-7777. World Wide Web site: http://www.mentor.com/ .

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