* Q2 sales $464.8 mln vs $445.2 mln
* Q2 EPS $0.50 vs est $0.39
* Sees Q3 sales up 2-6 pct over Q2
* Shares up 10 pct
July 24 Altera Corp reported
second-quarter results that blew past expectations and the
company projected a strong third-quarter on sales of its new
The company raised its quarterly dividend to 10 cents per
share from 8 cents and added another $10 million to its existing
share repurchase program.
Shares of the company rose 10 percent in extended trade.
They closed at $30.67 on Tuesday on the Nasdaq.
Altera projected a 2-6 percent sequential sales growth for
the third quarter, translating to about $474.1 million to $492.7
million in revenue.
Analysts were expecting about $470.7 million in sales for
the current quarter, according to Thomson Reuters I/B/E/S.
Altera's strong results and outlook contrast with rival
Xilinx Corp, which has been slow in catching up on the
ramp up to smaller, cutting edge 28-nanometer chips.
The programmable chipmaker posted a profit of 50 cents per
share on revenue of $464.8 million in the second quarter.
Analysts on average had expected a profit of 39 cents per share
on revenue of $445.2 million.