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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (8225)	10/16/2000 4:34:14 PM
From: T L Comiskey	Read Replies (2) \| Respond to of 65232

ALTR News.........can it stop the bleeding...? Monday October 16, 4:28 pm Eastern Time Press Release Altera Reports Record Third Quarter 2000 Results Sales Increase 16% Sequentially & 84% Annually SAN JOSE, Calif.--(BUSINESS WIRE)--Oct. 16, 2000--Altera Corporation (Nasdaq:ALTR - news) today reported record third quarter sales of $395.4 million, up 16% from the previous quarter and up 84% over the same period last year. Third quarter sales growth of 16% was achieved through gains of 18% in North America, 12% in Europe, 11% in Japan, and 31% in Asia/Pacific. Sales of 2.5-volt devices and 3.3-volt devices were up 57% and 12%, respectively, from the previous quarter and collectively represent 51% of third quarter sales. Third quarter net income was a record $118.0 million, or $0.28 per diluted share. Net income increased 15% over the previous quarter's income, excluding the effect of the second quarter's acquisition-related charges. Net income increased 112% compared to the same period in the prior year. Diluted earnings per share of $0.28 increased $0.03 from the $0.25 reported in the prior quarter, excluding the one-time charges in the second quarter. Third quarter results include amortization of deferred compensation expenses of $3.2 million related to last quarter's acquisitions and this quarter's Northwest Logic acquisition. Rodney Smith, President and CEO, stated, ``Following an extraordinary June quarter, the strong 16% sequential growth we posted in this typically seasonally slow period reflects the very solid business conditions we see in our end markets. Growth continues to be led by customers in the communications market, where the benefits of Altera devices that deliver greater design flexibility and faster time-to-market are particularly appealing. Our new products remain solid growth drivers. Sales of the leading edge 1.8-volt APEX(TM) 20KE devices, with unique built-in True-LVDS(TM) capability, more than doubled from the prior quarter. Additionally, market reception to our Excalibur(TM) products exceeded our expectations and initial customer designs have begun. With a strong incoming order rate, we remain optimistic about Altera's growth prospects for the remainder of this year and 2001.''