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Altera Announces Third Quarter Results
[October 27, 2014]

Altera Announces Third Quarter Results


(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 27 October 2014 Release date- 24102014 - SAN JOSE, Calif. - Altera Corporation (NASDAQ: ALTR) today announced third quarter sales of $499.6 million, up 2 percent from the second quarter of 2014 and up 12 percent from the third quarter of 2013.



Third quarter net income was $118.0 million, $0.38 per diluted share, compared with net income of $127.0 million, $0.41 per diluted share, in the second quarter of 2014 and $119.4 million, $0.37 per diluted share, in the third quarter of 2013.

Year-to-date cash flow from operating activities was $515.4 million. Altera repurchased approximately 4.2 million shares during the quarter at a cost of approximately $144.2 million.


Altera's board of directors has declared a quarterly cash dividend of $0.18 per share, to be paid on December 1, 2014 to shareholders of record on November 10, 2014.

'Sales were at the high end of expectations, on the back of solid new product growth, led by strong 28 nm gains,' said John Daane, president, chief executive officer, and chairman of the board. 'We continue to be encouraged by the positive feedback from early access customers of our first-ever FinFET-based FPGAs, the high-end Stratix 10 family. Utilizing a new proprietary HyperFlex architecture and manufactured with 14 nm Intel TriGate process technology, Stratix 10 devices will offer dramatic improvements in logic density, performance, and power consumption, significantly expanding the reach of Altera FPGA solutions.' Several recent accomplishments mark the company's continuing progress Altera has released early access design software for Stratix 10 FPGAs and SoCs, the industry's first design software targeting 14 nm FPGAs. Customers today can start their Stratix 10 designs and experience firsthand the doubling, on average, in core performance they can achieve as a result of the Stratix 10 HyperFlex architecture and the 14 nm Intel Tri-Gate FinFET process.

Stratix 10 FPGAs and SoCs are designed to enable the most advanced, highest performance applications in the communications, military, broadcast and computer and storage markets. For high-performance systems that have strict power budgets, Stratix 10 devices will allow customers to achieve up to a 70 percent reduction in power consumption compared with Stratix V FPGAs. Stratix 10 FPGAs and SoCs will also provide the industry's highest levels of system integration, including: The highest density monolithic device with greater than four million logic elements.

A high-performance, quad-core 64-bit ARM Cortex-A53 processor system.

Multi-die solutions capable of integrating DRAM, SRAM, ASIC, processors and analog components in a single package.

Over 10 TeraFLOPs of single-precision, hardened floating point DSP performance.

More than 4X serial transceiver bandwidth compared to previous generation FPGAs, including 28-Gbps backplane-capable transceivers and a path to 56-Gbps transceivers.

Altera and Baidu, China's largest online search engine, are collaborating on the use of FPGAs and convolutional neural network (CNN) algorithms for deep learning applications. These applications are set to play a critical role in the development of more accurate and faster online search. Altera demonstrated its work with Baidu at the recent High Performance Computing for Wall Street conference.

In key search functions, such as image classification and recognition tasks, CNNs are considered to be state-of-the-art and provide record-setting accuracy. To dramatically simplify the implementation of parallel processing applications, Baiduis leveraging Altera's Stratix V FPGAs and the Altera SDK for OpenCL, which achieved Khronos OpenCL conformance testing certification in May 2013. Altera remains the only FPGA supplier with such certification.

Altera has signed a three-year strategic agreement with China Mobile Research Institute (CMRI) to research and prototype next-generation green wireless network infrastructure solutions based on the Centralized Radio Access Network (C-RAN) architecture that leverages network function virtualization (NFV).

Cooperation between Altera and CMRI will center on joint research and development for centralized baseband processing of wireless base stations, with a goal of delivering lower power consumption, lower total operating costs and higher scalability than conventional infrastructure. The new, jointly developed C-RAN architecture will enable operators to increase the spectrum efficiency and to add or upgrade processing capabilities with ease via NFV of the baseband processing resources.

This will allow operators to reduce their operating expense and create new business models while leveraging existing investments. FPGAs serve key roles in data processing acceleration, component connectivity and front-haul data transportation.

Altera has announced the availability of non-volatile MAX 10 FPGAs, Altera's latest addition to its Generation 10 portfolio. Using TSMC's 55 nm embedded flash process technology, MAX 10 FPGAs revolutionize non-volatile FPGAs by delivering dual-configuration flash, analog and embedded processing capabilities in a small-form-factor, low-cost, instant-on programmable logic device.

The highly integrated FPGAs provide up to 50 percent board area savings compared to other low-cost FPGAs and provide several important system functions, such as an instant-on configuration, fail-safe upgrades, and system monitoring and control. MAX 10 FPGAs are shipping today and are supported by Quartus II software, evaluation kits, design services through the Altera Design Services Network (DSN), documentation and training to accelerate system development.

Product Category Description New Products include the Arria 10, Stratix V, Stratix IV, Arria V, Arria II, Cyclone V, Cyclone IV, MAX10, MAX V, HardCopy IV devices and Enpirion PowerSoCs.

Mainstream Products include the Stratix III, Cyclone III, MAX II and HardCopy III devices.

Mature and Other Products include the Stratix II, Stratix, Arria GX, Cyclone II, Cyclone, MAX 3000A, MAX 7000, MAX 7000A, MAX 7000B, MAX 7000S, MAX 9000, HardCopy II, HardCopy, FLEX series, APEX series, Mercury, Excalibur devices, configuration and other devices, intellectual property cores, and software and other tools.

Forward-Looking Statements Statements in this press release that are not historical are 'forward-looking statements' as the term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally written in the future tense and/or preceded by words such as 'will,' 'expects,' 'anticipates,' or other words that imply or predict a future state.

Forward-looking statements include, but are not limited to, statements regarding both absolute and relative product performance and features, product development schedules, potential FPGA market expansion, and any projection of revenue, gross margin, expense or other financial items discussed in the Business Outlook section or elsewhere in this press release.

Investors are cautioned that all forward-looking statements in this release involve risks and uncertainty that can cause actual results to differ materially from those currently anticipated, due to a number of factors, including without limitation, current global economic conditions, customer business environment, customer inventory levels, product availability, vertical market mix, market acceptance of the company's products, the performance of products once introduced, product introduction schedules, the rate of growth of the company's new products including Cyclone V, Cyclone IV, Arria 10, Arria V, Arria II, Stratix V, Stratix IV, MAX 10 FPGAs, MAX V CPLDs, HardCopy IV device families and Enpirion PowerSoCs, as well as changes in economic conditions and other risk factors discussed in documents filed by the company with the Securities and Exchange Commission (SEC) from time to time.

Copies of Altera's SEC filings are posted on the company's website and are available from the company without charge. Forward-looking statements are made as of the date of this release, and, except as required by law, the company does not undertake an obligation to update its forward-looking statements to reflect future events or circumstances.

About Altera Altera programmable solutions enable designers of electronic systems to rapidly and cost effectively innovate, differentiate and win in their markets. Altera offers FPGAs, SoCs, CPLDs, ASICs and complementary technologies, such as power management, to provide high-value solutions to customers worldwide.

ALTERA, ARRIA, CYCLONE, ENPIRION, MAX, MEGACORE, NIOS, QUARTUS and STRATIX words and logos are trademarks of Altera Corporation and registered in the U.S. Patent and Trademark Office and in other countries. All other words and logos identified as trademarks or service marks are the property of their respective holders as described at www.altera.com/legal.

INVESTOR CONTACT: Scott Wylie Vice President Tel: (408) 544-6996 Email: [email protected] MEDIA CONTACT: Sue Martenson Senior Manager Tel: (408) 544-8158 (c) 2014 Electronic News Publishing -

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