SAN JOSE, Calif., Dec. 8, 2011 /PRNewswire/ -- Altera
Corporation (NASDAQ: ALTR) today announced updated fourth quarter
2011 revenue guidance.
(Logo:
http://photos.prnewswire.com/prnh/20101012/SF78952LOGO)
The company currently expects that fourth quarter revenue will
be 13 to 16 percent lower than third quarter levels. Previous
guidance was for a decline of 7 to 11 percent. The revenue outlook
has deteriorated across all major vertical markets, including both
large and small customers. With the exception of North America, which will benefit from rising
military sales, all geographic regions will be weak. As the quarter
has progressed, economic uncertainty, macroeconomic concerns, and,
in some instances, lower than planned sales have resulted in
customers reducing demand on Altera. Consistent with the third
quarter, Altera believes it will continue to under ship customer
end demand in the fourth quarter.
The company will report fourth quarter results on January 24, 2012.
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. Forward-looking
statements include any projection of revenue, vertical market
performance, regional strength or weakness, and relative shipment
rate versus customer end demand. 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, current global economic conditions, customer
business environment, customer inventory levels, vertical market
mix, market acceptance of the company's products, product
introduction schedules, the rate of growth of the company's new
products including Cyclone® IV, Arria® II, Arria V, Stratix®
IV, and Stratix V FPGAs, MAX® V CPLDs and
HardCopy® IV device families, changes in the mix
of our business between prototyping and production-based demand, as
well as changes in economic conditions and other risk factors
discussed in documents filed by the company with the Securities and
Exchange Commission (SEC) from time to time. Copies of Altera's SEC
filings are posted on the company's website 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 programmable solutions enable system and semiconductor
companies to rapidly and cost-effectively innovate, differentiate
and win in their markets. Find out more about Altera's FPGA, CPLD
and ASIC devices at www.altera.com. Follow Altera via Facebook, RSS
and Twitter.
ALTERA, ARRIA, CYCLONE, HARDCOPY, MAX, MEGACORE, NIOS, QUARTUS
and STRATIX words and logos are trademarks of Altera Corporation
and registered in the U.S. Patent and Trademark Office and in other
countries. All other trademarks and service marks are the property
of their respective holders as described at
www.altera.com/legal.
INVESTOR CONTACT
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MEDIA CONTACT
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Scott Wylie - Vice
President
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Yoko Okamura - Senior
Manager
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Investor Relations
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Public Relations
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(408) 544-6996
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(408) 544-6397
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swylie@altera.com
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newsroom@altera.com
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SOURCE Altera Corporation