Altera Inches Up: Reiterates FYQ2 View
Jun 2, 2011
Shares of programmable chip maker Altera (ALTR) are up 4 cents at $47.24 in late trading, after the company this afternoon reiterated its outlook for the fiscal Q2 ending this month for revenue in a range of flat with Q1 to possibly up as much as 5% from last quarter's level.
Analysts, on average, have been modeling Altera's revenue to increase 2.4% from Q1′s level, to $548.7 million.
Day's Range: 46.61 - 47.45
52wk Range: 22.45 - 49.59
Volume: 3,178,188
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Market Cap: 15.21B
P/E (ttm): 17.70
EPS (ttm): 2.67
Div & Yield: 0.24 (0.50%)
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Profile:
Altera Corp.
101 Innovation Drive
San Jose, CA 95134
United States - Map
Phone: 408-544-7000
Fax: 408-954-8186
Website: http://www.altera.com
Details
Index Membership: Nasdaq 100
Sector: Technology
Industry: Semiconductor - Specialized
Full Time Employees: 2,666
Business Summary
Altera Corporation, a semiconductor company, designs, manufactures, and markets programmable logic devices (PLD), HardCopy application-specific integrated circuit (ASIC) devices, pre-defined design building blocks, and associated development tools. Its PLDs consist of field-programmable gate arrays (FPGAs) and complex programmable logic devices (CPLDs), which are semiconductor integrated circuits manufactured as standard chips that can be programmed to perform logic functions in electronic systems; and HardCopy structured ASIC devices that transition customer designs from high-density FPGAs to low-cost non-programmable implementations for volume production. The company’s products primarily include Stratix series high-end, system-level FPGAs; Arria series mid-range, transceiver-equipped FPGAs; Cyclone series low-cost FPGAs; MAX series CPLDs; and HardCopy ASICs. It also offers intellectual property cores that are pre-verified building blocks that execute system-level functions that is incorporated into the PLD design; and development tools consisting primarily of the Quartus II software for design entry, design compilation, design verification, and device programming. Altera Corporation serves customers primarily in the telecom and wireless, industrial automation, military and automotive, networking, and computer and storage markets. The company markets its products through a network of distributors, independent sales representatives, and direct sales personnel. It has operations in the Americas, the Asia Pacific, Europe, the Middle East, Africa, and Japan. The company was founded in 1983 and is headquartered in San Jose, California.
Business Overview
BRIEF: For the three months ended 31 March 2011, Altera Corporation's revenues increased 33% to $535.8M. Net income increased 46% to $224.1M. Revenues reflect an increase in income from Japan, higher income from China and rise in Other countries. Net income also reflects a significant increase in gross profit margins, a decrease in compensation expense - deferred compensation plan and a decline in interest expenses. http://www.altera.com/
Altera Updates Second Quarter Sales Guidance...
Press Release Source: Altera Corporation On Thursday June 2, 2011, 4:15 pm EDT
SAN JOSE, Calif., June 2, 2011 /PRNewswire/ -- Altera Corporation (NASDAQ:ALTR - News) today announced updated second quarter 2011 sales guidance.
(Logo: http://photos.prnewswire.com/prnh/20101012/SF78952LOGO)
The company currently expects that sales for the second quarter will be in line with its previous guidance for flat to up five percent sequential growth. The company continues to believe that the Telecom and Wireless vertical market will be up sequentially, while the company's other vertical markets will be flat to down.
The company will announce second quarter results after the market close on July 19, 2011.
Forward-Looking Statements
Statements in this press release that are not historical are "forward-looking statements" as the term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally written in the future tense and/or preceded by words such as "will," "expects," "anticipates," or other words that imply or predict a future state. Forward-looking statements include the second quarter sales outlook. Investors are cautioned that all forward-looking statements in this release involve risks and uncertainty that can cause actual results to differ from those currently anticipated, due to a number of factors, including without limitation, current global economic conditions, customer business environment, customer inventory levels, vertical market mix, market acceptance of the company's products, production yields, product introduction schedules, the rate of growth of the company's new products including Arria® II, Cyclone® IV, Stratix® V, and Stratix IV FPGAs, MAX® II CPLDs and HardCopy® device families, supply chain or demand impacts from the recent Japanese earthquake, customer business environment, customer inventory levels, changes in the mix of our business between prototyping and production-based demand, as well as changes in economic conditions and other risk factors discussed in documents filed by the company with the Securities and Exchange Commission (SEC) from time to time. Copies of Altera's SEC filings are posted on the company's website and are available from the company without charge. Forward-looking statements are made as of the date of this release, and, except as required by law, the company does not undertake an obligation to update its forward-looking statements to reflect future events or circumstances.
About Altera
Altera programmable solutions enable system and semiconductor companies to rapidly and cost-effectively innovate, differentiate and win in their markets. Find out more about Altera's FPGA, CPLD and ASIC devices at www.altera.com. Follow Altera via Facebook, RSS and Twitter.
ALTERA, ARRIA, CYCLONE, HARDCOPY, MAX, MEGACORE, NIOS, QUARTUS and STRATIX words and logos are trademarks of Altera Corporation and registered in the U.S. Patent and Trademark Office and in other countries. All other words and logos identified as trademarks or service marks are the property of their respective holders as described at www.altera.com/legal.
INVESTOR CONTACT
MEDIA CONTACT
Scott Wylie - Vice President
Mark Plungy - Senior Manager
Investor Relations
Public Relations
(408) 544-6996
(408) 544-6397
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