UPDATE - Altera quarterly profit rises, revenue up
Monday October 20, 4:34 pm ET
(Updates with background)
SAN FRANCISCO, Oct 20 (Reuters) - Altera Corp. (NasdaqNM:ALTR - News), a top maker of programmable semiconductors, on Monday said its quarterly net profit rose on strong demand for new products, including chip lines for consumer goods and industrial equipment.
The San Jose, California-based chip maker reported third-quarter net income of $43.8 million, or 11 cents a share, up 87 percent from net income of $23.4 million, or 6 cents, a year earlier.
Revenue rose to $209.4 million from $180.1 million a year earlier and was within the range of $207.3 million to $213.5 million, or a rise of 1 percent to 4 percent from second-quarter sales, the company had forecast.
Analysts, on average, had expected the company to post earnings of 11 cents a share and revenue of $210.2 million, according to Reuters Research, a unit of Reuters Group Plc. |
