Mentor Graphics Corp. (MENT: Quote) reported first quarter adjusted net income of $0.30 per share Friday morning, up from $0.20 per share in the prior year period. The consensus estimate was for EPS of $0.25. The company expects to report second quarter adjusted EPS of about $0.17 and increased its full year 2013 adjusted EPS forecast to $1.37. The consensus estimates are for EPS of $0.17 and $1.33.
Mentor Graphics steadily declined throughout the first half of Friday's session and finished down by 2.01 at $13.20, with volume at over a 6-month high. The stock dropped to over a 4-month low and fell below its 50-day moving average.
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by RTT Staff Writer
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