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Roundup: Mentor, Fogdog, Cymer top estimates

Mentor Graphics (Nasdaq: MENT) ended up reporting higher fourth earnings than the company expected just a few weeks ago.

After market close Monday, the provider of chip design software and services reported fourth quarter net income of 30 cents per share, excluding one-time charges and a 2-cents-per-share loss incurred by a recently acquired company. First Call's survey of 10 analysts predicted a profit of 26 cents per share.

Including $17 million special charges related to the acquisition of Veribest and Veribest's loss of 2 cents per share, Mentor earned $5.1 million, or 8 cents per share.

Earlier this month, Mentor said earnings would be in line with the then-consensus analyst forecast of 25 cents.

Fourth quarter revenue increased to $155 million from $145.3 million in the year ago period, when Mentor earned 21 cents per share.

Backlog in the fourth quarter rose 30 percent year-over-year, led by special products, which saw the backlog increase more than 20 percent.

For the full year, Mentor reported operating income of $54.4 million, not counting special charges, on revenue of $511.1 million.

Shares of Mentor rose 1/16 to 13 9/16 in Monday's regular trading, prior to the earnings report. Among 11 analysts polled by Zack's Investment Research, seven maintain the equivalent of "hold" ratings on Mentor, three have "moderate buy" on the stock and one recommends it with a "strong buy" advisory.

Other companies reporting quarterly results:

  • Fogdog Sports
  • (Nasdaq: FOGD) beat estimates in its first quarter as a public company.

    The online sporting goods retailer reported a fourth quarter net loss of $9.1 million, or 29 cents per share, not counting one-time charges. Consensus expectations called for a loss of 37 cents per share, according to Zack's Investment Research.

    Including special items, Fogdog lost $27.4 million, or 89 cents per share, in the December quarter.

    Fourth quarter revenue rose 198 percent year-over-year to $4.4 million. Holiday revenues tripled year-over-year, Fogdog CEO Tim Harrington said.

    For the full year 1999, Fogdog lost $42.5 million, or $1.78 per share, on revenue of $7 million.

    Fogdog held its IPO in early December.

  • PC-Tel
  • (Nasdaq: PCTI) doubled its fourth quarter revenue.

    The vendor of modems and network access products saw fourth quarter earnings of $2.6 million, or 14 cents per share, not counting one-time charges but including writedowns of deferred compensation and goodwill. Excluding all special items, PC-Tel earned $3.3 million, or 17 cents per share.

    First Call's survey of three analysts predicted a profit of 16 cents per share for the quarter ended Dec. 31.

    Including all special charges and extraordinary items, the company earned $1 million, or 5 cents per share.

    Fourth quarter revenue increased to $23.1 million, compared to $11.6 million in the year earlier period.

    For the full year, PC-Tel earned $9.1 million, or 62 cents per share, excluding special charges., on revenue of $76.3 million.

  • Cymer
  • (Nasdaq: CYMI) surpassed estimates in the fourth quarter.

    The maker of lasers for chip manufacturing earned $8.9 million, or 29 cents per share, in the fourth quarter. First Call consensus predicted earnings of 23 cents per share for the quarter ended Dec. 31.

    Fourth quarter revenue rose 105 percent year-over-year ot $78 million.

    For the full year, Cymer earned $8.6 million, or 29 cents per share, on revenue of $220.5 million.>