Altera Pays Out Record Profit Sharing; Over $4 Million Paid to Eligible Employees.SAN JOSE, Calif.--(BUSINESS WIRE)--Feb. 13, 1995--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) announced today that it has paid out a record amount to its employees as part of its 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 program. Over $4 million was paid to Altera employees for 1995, an increase of 150 percent compared to 1994. This amount was divided equally among the eligible employees. Employees that were eligible for the entire year received over $6,000 in profit sharing. The fourth quarter payout was particularly strong, with $1,800 paid out to each eligible employee. "1995 was a record year for Altera in terms of revenue and profit," 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. . "This could not have been accomplished without the dedication and hard work of our employees. Each individual contributed to Altera's success, and it is fitting that our employees share in the company's prosperity." For 1995, Altera's revenues rose 102 percent to $402 million and its profit increased to $87 million. Altera's profit sharing program is based upon the overall profitability of the company, with a certain percentage of its profits earmarked for distribution to eligible employees. Employees who work for the entire quarter are eligible for that quarter's payoff. 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 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 low-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. -0- Note to Editors: Altera is a registered trademark, and specific device designations are trademarks of Altera Corporation. All other trademarks are the property of their respective holders. CONTACT: Altera Corporation Robert K. Beachler, 408/894-7000 or Cain Communications Susan Cain, 408/291-2580 |
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