News and New Products

Sales Climb for Altera

Staff Reporter -- Electronic News, 7/25/2006

Programmable logic chip provider Altera Corp. experienced double-digit sales increases both sequentially and year-over-year for its Q2, but did not release any margin or net income information, pending its review of historical stock option practices.

The company reported Q2 sales of $334.1 million, up 14 percent from Q1 and up 17 percent from Q2.

New product sales increased 50 percent sequentially and were up 139 percent from the same period a year ago.

"Growth accelerated this quarter led by robust new product sales gains," said John Daane, president, chairman and CEO. “Our largest growth contributor was the 90-nm Stratix II FPGA family, demonstrating our continued strong competitive position as a high-density FPGA supplier. We saw substantial growth as well from low-cost Cyclone II FPGAs and MAX II CPLDs. Our operations team and manufacturing partners performed superbly, allowing us to capitalize on rising demand for our products and respond to those customers we were not able to fully supply in the first quarter.”

For Q3 Altera said that it expects sales will range from $334 million to $344 million.