San Jose, Calif., January 23, 2013 — Altera Corporation (NASDAQ: ALTR) today announced fourth quarter sales of $439.4 million, down 11 percent from the third quarter of 2012 and down 4 percent from the fourth quarter of 2011. Fourth quarter net income was $120.8 million, $0.37 per diluted share, compared with net income of $157.5 million, $0.49 per diluted share, in the third quarter of 2012 and $146.6 million, $0.45 per diluted share, in the fourth quarter of 2011.
Cash flow from operating activities in 2012 was $587.2 million. Altera repurchased 1.6 million shares of its common stock during the quarter at a cost of $50.0 million. Altera ended the quarter with $3.7 billion in cash and investments.
Altera's board of directors has declared a quarterly cash dividend of $0.10 per share payable on March 1, 2013 to stockholders of record on February 11, 2013.
"While our new products had a double-digit sequential growth quarter, sales of our older products were soft—the result of a sluggish global economy, " said John Daane, president, chief executive officer, and chairman of the board. "Sales of 40 nm devices, our largest selling process node, and where we are the market leader, are likely to strengthen further as we progress through 2013. At the most advanced process node, 28 nm, Altera remains the design-win value leader, giving us a substantial growth opportunity as these customer designs transition into production."
The following information was filed by Altera Corp on Wednesday, January 23, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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CIK: 768251 Form Type:10-K Annual Report Accession Number: 0000768251-13-000008 Submitted to the SEC: Fri Feb 15 2013 4:23:30 PM EST Accepted by the SEC: Fri Feb 15 2013 Period: Monday, December 31, 2012 Industry: Semiconductors And Related Devices