San Jose, Calif., July 23, 2015 — Altera Corporation (NASDAQ: ALTR) today announced second quarter sales of $414.2 million, down 5 percent from the first quarter of 2015 and down 16 percent from the second quarter of 2014. Second quarter net income was $70.3 million, $0.23 per diluted share, compared with net income of $94.9 million, $0.31 per diluted share, in the first quarter of 2015 and $127.0 million, $0.41 per diluted share, in the second quarter of 2014.
Year-to-date cash flow from operating activities was $225.9 million. Altera's board of directors has declared a quarterly cash dividend of $0.18 per share, to be paid on September 1, 2015 to shareholders of record on August 10, 2015.
"Our wireless customers reduced demand on us this quarter, as expected, in reaction to continuing adverse market conditions. This pause in wireless spend more than offset growth across many of our vertical markets," said John Daane, president, chief executive officer, and chairman of the board. "The most important news for the second quarter was the June 1st announcement of an agreement for Intel to acquire Altera. Over the past several years we have worked closely with Intel, the world's largest semiconductor company and a proven technology leader. Through that interaction, we understand well the benefits this transaction will bring to our customers through development of innovative market-leading FPGAs and SoCs that will be enabled by Intel and Altera joining forces."
The following information was filed by Altera Corp on Thursday, July 23, 2015 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one quarter to another to evaluate Altera Corp's financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed, and by Altera Corp.
CIK: 768251 Form Type:10-Q Quarterly Report Accession Number: 0000768251-15-000033 Submitted to the SEC: Thu Jul 23 2015 4:57:19 PM EST Accepted by the SEC: Thu Jul 23 2015 Period: Friday, June 26, 2015 Industry: Semiconductors And Related Devices