Altera Michael Kors Handbags tops 2Q forecasts to lead chip earnings reports

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How To Top Categories Computers Home Entertainment Internet Phones Photography Security Tablets ForumsLog In to CNET Join After market close Thursday, the maker of programmable chips reported second quarter net income of $102.6 million, or 49 cents per share, excluding a $6.3 million charge for acquired in process R Including all charges, Altera earned $98.3 million, or 47 cents per share.

First Call survey of 24 analysts predicted a profit of 44 cents per share for cheap Michael Kors handbags outlet the quarter ended June 30.

Altera also unveiled plans for a 2 for 1 stock split, to take effect after market close michael kors handbags Aug. 10 for shareholders of July 26 record. It will be the company fifth stock split since going public, and first since May 19, 1999.

Shares of Altera rose in afterhours activity following the earnings release. Altera traded at 115 1/16 in afterhours trading on the Island electronic communications network. The stock closed Thursday regular trading at 111 1/16, up 7 13/16 for the session.

Second quarter revenue increased to michael kors handbags $340.7 million, up 72 percent year over year and up 25 percent sequentially. Revenue from 2.5 volt and 3.3 volt units rose 42 percent and 44 respectively from the first quarter, and together generated 48 percent of Altera sales.

Asia/Pacific led quarterly regional growth with a 28 percent improvement, followed by 27 percent for North cheap Michael Kors handbags America, 25 percent for Japan and 20 percent michael kors handbags for Europe.

Altera spent $187.4 million to buy back 2.4 million shares during the second quarter.

Other companies reporting quarterly results:

Dallas Semiconductor (NYSE: DS) topped the consensus forecast in the second quarter. The maker of specialty chips reported second quarter net income of $24.4 million, or 38 cents per share. First Call survey of six analysts predicted a profit of 36 cents per share.

Second quarter revenue increased to $93.6 million, up 39 percent year over year and up 10 percent sequentially. Demand for communications equipment such as optical switches fueled 91 cheap Michael Kors handbags percent growth in communications from the year ago period. Mixed signal sales rose 41 percent, largely because of growth in the market for networking and network attached devices.

« Mixed Signal products are the foundation on which the Company was built and we are seeing the needs of the marketplace and the strengths of the Company matching up quite well, » said Vin Prothro, chairman and CEO.

Prothro remained confident about Dallas overall position.

« Based on our record 90 day backlog position and the general strength of our end markets, we are optimistic as we enter the traditionally slow summer quarter, » he said.

Vitesse Semiconductor (Nasdaq: VTSS) met analyst estimates in the third michael kors outlet quarter. The maker of chips for optical networking equipment reported third quarter earnings of $32.1 million, or 17 cents per share, excluding one time costs and goodwill writedowns. That was in line with the consensus prediction of First Call survey of 18 analysts.

Including amortization and acquisition related costs, Vitesse earned $13.3 million, or 7 cents per share int he quarter ended June 30.

Third quarter revenue rose to $114.1 milion, up 56 percent year over year and up 14 percent sequentially.>If you believe this comment is offensive or violates the CNET’s Site Terms of Use, michael kors outlet you can report it below (this will not automatically remove the comment). Once reported, our staff will be notified and the comment will be reviewed.Articles Connexes:

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