Altera Posts Strong Q3 on New Product Sales.Altera Altera Corporation (NASDAQ: ALTR) is a leading manufacturer of programmable logic devices. It is a member of the NASDAQ-100 group of technology stocks and the S&P 500. Corp, the San Jose San Jose, city, United StatesSan Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , California-based provider of programmable logic devices See PLD. and associated software tools, has reported third-quarter net income up 38.4% at $55.6m on revenue up 31% at $215.1m. Earnings per share for the quarter rose 35% to $0.27, topping the First Call consensus by a penny. Nine-month net income rose 37.3% to $153.6m on revenue up 24.4% at $599.3m, while EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. rose 29.8% to $0.57. The company says it saw record sales in all geographic channels with sequential gains of 10% in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , 12% in Europe, 10% in Asia/Pacific and 1% in Japan. Sales were driven by new product revenues, which amounted to 33% of overall sales and grew 37% sequentially and over 200% year-over-year. Mainstream product revenues were 35% of sales and grew 1% sequentially and 27% over the third quarter of last year. Mature product sales declined 5% sequentially. The company added $110.4m to its cash balances during the quarter, taking them to $786.2m. The company expects to report sequential revenue growth of 8% to 10% for the fourth quarter. |
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