News Column

Altera Announces Fourth Quarter Results

February 6, 2014

By a News Reporter-Staff News Editor at Computer Weekly News -- Altera Corporation (NASDAQ: ALTR) announced fourth quarter sales of $454.4 million, up 2 percent from the third quarter of 2013 and up 3 percent from the fourth quarter of 2012. Fourth quarter net income was $98.9 million, $0.31 per diluted share, compared with net income of $119.4 million, $0.37 per diluted share, in the third quarter of 2013 and $120.8 million, $0.37 per diluted share, in the fourth quarter of 2012.

Cash flow from operating activities in 2013 was $590.2 million. Altera repurchased 4.4 million shares of its common stock during the quarter at a cost of $140.8 million.

Altera's board of directors has declared a quarterly cash dividend of $0.15 per share, to be paid on March 3, 2014 to stockholders of record on February 10, 2014.

"Sales growth exceeded our expectations as a diverse blend of end markets grew sequentially. Once again, our new products were the quarter's growth drivers, with double digit growth, led by our 28 nm FPGAs," said John Daane, president, chief executive officer, and chairman of the board. "In the first quarter we will begin shipping our 20 nm mid-range Arria 10 devices, which deliver performance that exceeds that of our 28 nm high-end devices and can deliver up to 40 percent lower power consumption than our previous mid-range FPGA. With the fourth quarter release of Quartus II software Arria 10 edition, we became the first and today remain the only major FPGA vendor with fully available development software for a 20 nm FPGA family."

Keywords for this news article include: Software, Altera Corporation.

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Source: Computer Weekly News

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