SAN FRANCISCO Altera Corp. posted first quarter 2005 sales of $264.8 million, up 10 percent from the fourth quarter of 2004 and up 9 percent from the first quarter of 2004.
First quarter net income was $63.8 million, or 17 cents per diluted share, Altera said, compared to net income of $58.8 million, or 15 cents per diluted share, in the first quarter of 2004. Gross profit margin was 68.3 percent for the first quarter of 2005, down slightly from 68.8 percent for the first quarter of 2004.
In a statement issued by Altera Monday (April 25), John Daane, Altera president, chairman and CEO, largely credited strong revenue growth generated by the Stratix II field-programmable gate array (FPGA) product for the successful quarter. "We believe that the peak revenues for Cyclone and Stratix devices are still well ahead of us and that our overall competitive position for securing design wins at the leading edge is increasing with the Stratix II and Cyclone II families," Daane said.
Altera said sales of its new products grew 16 percent sequentially and were up 96 percent from the prior year's first quarter.