Altera Business Outlook is Reduced for the September Quarter.SAN JOSE, Calif.--(BUSINESS WIRE)--Aug. 27, 1997--Altera Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ALTR) today indicated that quarter-to-date end consumption in North America has been below management's expectations. Consumption at several larger customers has been less than expected, resulting in an anticipated sequential decline in the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. channel for the quarter. As a result, management currently expects revenues for the quarter ending September, 1997 to be flat or slightly down from the prior quarter ending June, 1997. Rodney Smith, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. stated, "We believe that this is a temporary situation after several quarters of very strong growth at these customers and in the North American channel generally. Our year over year growth for the third quarter will approach 40%, and we anticipate that we will resume solid growth in the fourth quarter." Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that all forward- looking statements involve risks and uncertainty, including demand for the Company's products as well as general market conditions, competition and pricing. Please refer to the Company's Securities and Exchange Commission filings, copies of which are available from the Company without charge, for further information. Fax on Demand: Copies of Altera's announcement are available from its fax-on-demand service. In the U.S. and Canada to request a copy call 1-800-789-ALTR. International users can dial their local International Access Code followed by 1-408-544-0466. Altera Corporation, founded in 1983, is a world-wide leader in high-performance, high-density programmable logic devices and associated computer aided engineering (application) Computer Aided Engineering - (CAE) Use of computers to help with all phases of engineering design work. Like computer aided design, but also involving the conceptual and analytical design steps. (CAE (1) (Computer-Aided Engineering) Software that analyzes designs which have been created in the computer or that have been created elsewhere and entered into the computer. ) logic development tools. Programmable logic devices are semiconductor chips that offer on-site programmability to customers. The chips are programmed with tools that run on personal computers or engineering workstations. User benefits include ease of use, lower risk, and fast time-to-market. The Company offers the broadest line of CMOS (Complementary Metal Oxide Semiconductor) Pronounced "c-moss." The most widely used integrated circuit design. It is found in almost every electronic product from handheld devices to mainframes. programmable logic devices that address high-speed, high-density, and lower power applications. Altera products serve a broad range of market areas, including telecommunications, data communications, computers, and industrial applications. Altera common stock is traded on The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. using the symbol ALTR. CONTACT: Altera Corporation Thomas J. Nicoletti, 408/544-8011 |
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