TXN and ALTR solidly up after hours trading, both posts great numbers.
Altera Reports 3Q Results; New Products Drive Continuing Growth
SAN JOSE, Calif.--(BUSINESS WIRE)--Oct. 20, 2003-- Altera Corp.(NASDAQ-NMS:ALTR) 's (ALTR) third-quarter net income almost doubled as profit margins improved and sales of new products continued strong.
In a press release Monday, the semiconductor maker reported net income for the period was $43.8 million, or 11 cents a share, up from $23.4 million, or 6 cents a share, in the year-ago quarter.
Gross profit margins improved to 68.7% of sales from 63.8% a year earlier. The latest quarter included a $7.6 million pretax benefit from the sale of inventory written down in 2001.
Altera said new products drove growth of 16% in third-quarter sales to $209.4 million, in line with the company's increased September forecast. New products accounted for 42% of revenue in the third quarter, up from 30% a year earlier.
In particular, Altera cited the Cyclone family of products, which saw sales double from second-quarter levels, as well as its Stratix devices. Both are field-programmable gate arrays, or chips that users can reprogram or write over to tailor them for their particular needs. |
