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Actionable news in ALTR: Altera Corporation,

Altera: Scott Wylie - Vice President

The following excerpt is from the company's SEC filing.

Sue Martenson - Senior Manager

Investor Relations

Public Relations

(408) 544-6996

(408) 544-8158

swylie@altera.com

newsroom@altera.com

ALTERA ANNOUNCES THIRD QUARTER RESULTS

San Jose, Calif

October 22, 2015

— Altera Corporation (NASDAQ: ALTR) today announced

third quarter

sales of

$399.6 million

, down

4 percent

second quarter

and down

20 percent

Third quarter

net income was

$61.5 million

per diluted share, compared with net income of

$70.3 milli on

per diluted share, in the

$118.0 million

Year-to-date cash flow from operating activities was

$392.9 million

. Altera's board of directors has declared a quarterly cash dividend of

per share, to be paid on

December 1, 2015

to shareholders of record on

November 10, 2015

"Market conditions globally were quite varied this quarter as some vertical markets produced good growth while others were weak. In spite of these headwinds we saw double-digit new product growth plus continued strength in data center demand," said John Daane, president, chief executive officer, and chairman of the board.

Third Quarter Business Summary

The quarter's sequential sales decline reflects choppy conditions across the company's vertical markets. Telecom and Wireless sales grew as wireless equipment demand rebounded from the prior quarter. Industrial market weakness was the major contributor to a decline in sales in the Industrial Automation, Military & Auto vertical market. Networking, Computer & Storage sales grew, led by gains in computer and storage, as data center customers increasingly leverage the performance and low power benefits of Altera FPGAs. Gross margin was

percent, down from the second quarter, due to unfavorable changes in vertical market mix. Reduced merger-related expenses led to a sequential decline in the quarter's operating expenses. The company's tax rate was

percent, up from the prior quarter, largely the result of continuing adverse geographic mix and reduced acquisition-related costs in the quarter.

SELECTED THIRD QUARTER RATIOS AND RELATED RESULTS

($ in thousands)

Key Ratios & Information

September 25, 2015

June 26, 2015

Current Ratio

Liabilities/Equity

Quarterly Operating Cash Flows

167,018

89,220

TTM Return on Equity

Quarterly Depreciation Expense

12,183

11,985

Quarterly Capital Expenditures

10,190

Inventory MSOH

: Altera

: Distribution

Cash Conversion Cycle (Days)

Book to Bill

Note (1): MSOH: Months Supply On Hand

ALTERA CORPORATION

NET SALES SUMMARY

(Unaudited)

Three Months Ended

Quarterly Growth Rate

September 26,

Sequential Change

Over-Year

Geography

Americas

Asia Pacific

Net Sales

Product Category

Mainstream

Mature and Other

Vertical Market

Telecom & Wireless

Industrial Automation, Military & Automotive

FPGAs and CPLDs

Other Products

Product Category Description

New Products

include the Arria

10, Stratix

V, Stratix IV, Arria V, Arria II, Cyclone

V, Cyclone IV, MAX

10, 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...


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