October 22, 2013 / 8:41 PM / 4 years ago

Chipmaker Altera's profit falls 24 pct

Oct 22 (Reuters) - Programmable-chip maker Altera Corp reported a 24 percent fall in quarterly profit and projected a decrease in sales in the fourth quarter from the third quarter.

Altera shares fell 6 percent in extended trading after closing at $37.32 on the Nasdaq on Tuesday.

Net income fell to $119.4 million, or 37 cents per share, in the third quarter, from $157.5 million, 49 cents per share, a year earlier.

Revenue fell 10 percent to $445.9 million.

The company said it expects sales for the fourth quarter to be down 3 percent to up 1 percent, compared with the third quarter.

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

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