Chipmaker Altera quarterly revenue up on sales of new products

Thu Jan 23, 2014 4:26pm EST

Jan 23 (Reuters) - Programmable chip maker Altera Corp reported a 3 percent rise in quarterly revenue, helped by sales of its new products.

Shares were up 4 percent in extended trading, after closing at $32.93 on the Nasdaq on Thursday.

Net income fell to $98.9 million, or 31 cents per share, in the fourth quarter ended Dec. 31, from $120.8 million, or 37 cents per share, a year earlier.

Revenue rose 3 percent to $454.4 million.

Altera's semiconductor chips are sold off the shelf and can be programmed by customers to do specific tasks.