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Altera Updates Second Quarter Guidance
SAN JOSE, Calif.—(BUSINESS WIRE)—May 30, 2006—
Altera Corporation (Nasdaq:ALTR) today announced its
mid-quarter update for the second quarter of 2006.
The company reaffirms that second quarter sales will be in line
with previous guidance for 7% to 10% sequential growth.
The company now expects up to several million dollars of
additional SG&A expense in the second quarter resulting from its
previously announced review of stock option granting practices and
related accounting.
New products lead the company's growth with Stratix(R) II,
Cyclone(TM) II, MAX(R) II, and HardCopy(R) devices all demonstrating
continued strong sales increases.
While supply of certain types of Stratix, Stratix II, and HardCopy
devices remain tight, the company believes that lead times for these
parts will return to normal within one to three months, which is
in line with previous company estimates.
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," "expect," "project," "estimates," or words that imply
or predict a future state. Investors are cautioned that all
forward-looking statements in this release involve risks and
uncertainty that can cause actual results to differ from those
currently anticipated, due to a number of factors, including without
limitation, the length of the company's stock option practices review
and any impact that might arise from that review on the second
quarter's financial results, the company's ability to meet demand for
Stratix, Stratix II, Hardcopy devices, customer business environment,
market acceptance of the company's products, the rate of growth of the
company's new products, pricing strategies, changes in customer
production-based demand, as well as changing economic conditions, and
other risk factors discussed in documents filed by the company with
the Securities and Exchange Commission from time to time. Copies of
Altera's SEC filings are posted on the company's web site 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's programmable solutions enable system and semiconductor
companies to rapidly and cost-effectively innovate, differentiate, and
win in their markets. Find out more at http://www.altera.com.
Altera, The Programmable Solutions Company, the stylized Altera
logo, specific device designations and all other words that are
identified as trademarks and/or service marks are, unless noted
otherwise, the trademarks and service marks of Altera Corporation in
the U.S. and other countries.
Contact:
Altera Corporation
Scott Wylie, 408-544-6996 (Investors)
Email Contact
Anna Del Rosario, 408-544-6397 (Media)
Email Contact
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