Altera Pays Out Record Bonuses.SAN JOSE, Calif.--(BUSINESS WIRE)--Feb. 18, 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 paid out a record $3.3 million to its employees as part of its annual bonus program. This sum, in combination with the previous $4.7 million that the company paid out in profit sharing profit sharing, arrangement by which employees receive, in addition to their wages, a share of the net profits of a business. The purpose is to give them an incentive to increase their output through enhanced morale, less wasteful use of materials, better care of , brings total end of year cash payments to $8.0 million. That $8.0 million total averages almost $9,000 per employee. Altera's bonus program is paid to executive management, directors and other key contributors in the company. It is based upon the growth in revenue and profit of the company. Approximately 28 percent of the eligible employee base received bonus checks. "The bonus program is a key way that we reward outstanding performance," stated Rodney Smith, Altera's president and 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. . "By rewarding executives and key contributors based upon revenue growth and profitability, we remain a focused, results oriented team." About Altera 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 using tools that run on personal computers or engineering work stations. User benefits include ease of use, lower risk, and faster 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 markets, 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. More information on Altera can be obtained on the World Wide Web at http://www.altera.com . -0- Note to Editors: Altera and specific device designations are trademarks and/or service marks of Altera Corporation in the United States and other countries. All other trademarks are the property of their respective holders. CONTACT: Altera Corporation Robert K. Beachler, 408/894-7187 or Cain Communications Susan Cain, 408/341-8960 |
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