Altera Posts Q1 Sales of $535.8 million, up 33% YoY

Altera reported Q1 sales of $535.8 million, down 4 percent from the fourth quarter of 2010 and up 33 percent from the first quarter of 2010. New product sales increased 13 percent sequentially. First quarter net income was $224.1 million, $0.68 per diluted share, compared with net income of $231.6 million, $0.72 per diluted share, in the fourth quarter of 2010 and $153.2 million, $0.50 per diluted share, in the first quarter of 2010.


"Despite the anticipated slow down in first quarter sales following a remarkable 2010 growth year, we experienced double-digit sequential growth in our 40-nm based devices, as these products are now entering the best part of their growth phase," said John Daane, president, chief executive officer, and chairman of the board. "Our initial 28-nm Stratix V devices, the first high-end FPGAs at this advanced node, are now shipping--giving us additional capabilities to accelerate the displacement of ASICs and ASSPs." http://www.altera.com