Mentor Graphics (MENT) this morning posted revenue for its fiscal first quarter ended April of $179.2 million, with a net loss of 10 cents a share. The Street had expected $170.1 million and a loss of 10 cents.

For Q2, the company sees revenue of $173 million and a loss of 10-15 cents a share; that is well below the Street forecast of $194.4 million and a profit of 3 cents a share.

But the company sees a recovery in the second half of its fiscal year: For the full year ending in January 2009, Mentor expects revenue of $915 million and a non-GAAP profit of $1.05 to $1.10 a share, which is ahead of the Street consensus of $901.4 million and $1.03.

This morning, shares of the EDA software providers are up 17 cents, or 1.7%, to $10.36.