Mentor Graphics Shares Plunge On Poor Fourth-quarter Outlook

Mentor Graphics Corp. shares dropped in the extended session Thursday after the computer and electronics design systems company issued a disappointing outlook for the fourth quarter. Mentor shares fell 24% to $21.15. The company forecast adjusted fourth-quarter earnings of 47 cents a share on revenue of about $336 million. Analysts surveyed by FactSet had forecast 97 cents a share on revenue of $439.3 million. For the third quarter, Mentor reported adjusted earnings of 28 cents a share on revenue of $291 million. Analysts had expected 29 cents a share on revenue of $291.8 million.