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Mentor Graphics shares rise higher on results

Mentor Graphics Corp. MENT, +5.55% reported lower earnings and revenue for the latest quarter, but the results weren't as bad as had been feared, sending its shares higher.

The Wilsonville, Ore., company's stock rose 4.7%, to $23.20, in recent after-hours trading.

Shares of the company, which sells software and hardware design-automation tools for the development and testing of advanced electronic systems, are up 20% this year after plunging in November. At the time Mentor had slashed its guidance for its previous year after reporting disappointing quarterly results, saying that a wave of mergers and acquisitions in the semiconductor industry were making it hard to close...