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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: etchmeister who wrote (15154)	5/31/2005 6:29:58 PM
From: Proud_Infidel	Respond to of 25522

Altera Sees 2Q Sales at High End of View Tuesday May 31, 5:11 pm ET Altera Says Second-Quarter Revenue Growth to Hit High End of Predicted Range SAN JOSE, Calif. (AP) -- Semiconductor maker Altera Corp. said Tuesday that recent strong sales led the company to expect second-quarter revenue to hit the high of its previous forecast for 4 percent to 5 percent growth. The company said its Stratix, Cyclone and Hardcopy products are all likely to post higher revenue than in the first quarter and noted that Stratix sales to date have already exceeded total first-quarter results. In addition, Altera said some of its newest products -- Stratix II, Cyclone II and Max II -- are recording strong sales. Analysts surveyed by Thomson Financial currently expect sales to grow 3 percent to $276.3 million. Last year the company posted revenue of $269 million in the second quarter. Altera also said it will record a tax benefit of $15 million to $20 million in the second quarter from its favorable settlement of two outstanding audits in April. This benefit will be more than offset by a $21 million charge related to the company's decision to repatriate $400 million in foreign earnings under the American Jobs Creation Act, which offers incentives for bringing foreign profits back to the United States. Altera shares closed down 8 cents to $22.18 on the Nasdaq, then slipped 18 cents to $22 in recent after-hours activity.