This article is from page 65 of the 2007-12-11 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 65 JPG
SHANNON based US-owned multi- national, Mentor Graphics increased the size of its business last year to $381 million.
However, the company endured a loss of $10.6 million at the end of paul eTes
The Shannon subsidiary — which employs 333 people — is part of Men- tor Graphics Corporation, which was established in 1981 with headquar- ters in Oregon.
Across the world, the company em- ploys 3,500 people and it is a tech- nology leader in electronic design automation, providing products and services used by companies world- wide in the design of the electronic content of their products.
The Shannon arm of the Mentor Graphics is an International Services and Distribution centre for Informa- tion Technology, Order Fulfillment, Finance, Purchasing, Facilities, Con- sulting, Customer Support, Legal and Human Resources for the European,
Middle Eastern and Asian business.
The accounts show that the turno- ver increased from $336 million to $381 million, while the cost of sales increased from $279 million to $313 wave en Ceyer
This resulted in the gross profit increasing from $57 million to $67 million, while the company’s oper- ating expenses increases from $50 million to $67 million.
This resulted in the company’s ‘op- erating profit’ going down from $6 million to $33,000.
The company remains in good fi- nancial health with the company having $26 million in cash in bank.
The accounts also show that there was a drop in the numbers employed at the company in 2006 with num- bers declining from 367 to 333 with 17 less people employed in produc- tion and 17 less in administration.
This resulted in staff costs being re- duced from $33 million to $32 mil- lion. The remuneration for directors during 2006 was $294,000.
According to a statement accom-
panying the accounts, the principal activities of the Mentor Graphics are the research, development and the manufacture of software and the dis- tribution of its software and services throughout the world.
Mentor Graphics (Ireland) localises and distributes software and services in the EMEA (Europe, Middle East and Africa) and Asia/Pacific mar- oe
“It is the intention of the directors to continue to develop the current ac- tivities of the company.