Altera Announces 2006 Results; Sales Up 14%


                          ALTERA CORPORATION
    GAAP AND NON-GAAP CONDENSED CONSOLIDATED STATEMENTS OF INCOME
            (In thousands, except per share data and note)
                             (Unaudited)


                                   THREE MONTHS ENDED
                  ----------------------------------------------------
                               September 29               September 30
                                   2006                      2005
                  --------------------------------------- ------------

                    GAAP(2)    Adjustments(1) Non-GAAP(2)   GAAP(2)
                  ------------ ---------------------------------------

Net sales         $   341,213  $           -  $  341,213  $   291,530
Cost of sales         110,527           (422)    110,105       97,647
                  ------------ -------------- ----------- ------------

Gross margin          230,686            422     231,108      193,883
                  ------------ -------------- ----------- ------------

Operating
 expenses:
 Research and
  development          63,604         (6,116)     57,488       49,443
 Selling,
  general, and
  administrative       80,773         (8,483)     72,290       57,289
                  ------------ -------------- ----------- ------------
Total operating
 expenses             144,377        (14,599)    129,778      106,732
                  ------------ -------------- ----------- ------------

Income from
 operations            86,309         15,021     101,330       87,151
Interest and
 other income,
 net                   16,539              -      16,539       11,368
                  ------------ -------------- ----------- ------------

Income before
 income taxes         102,848         15,021     117,869       98,519
Provision for
 income taxes          15,427          4,611      20,038       20,704
                  ------------ -------------- ----------- ------------

Net income        $    87,421  $      10,410  $   97,831  $    77,815
                  ============ ============== =========== ============

Net income per
 share:
 Basic            $      0.24                 $     0.27  $      0.21
                  ============                =========== ============
 Diluted          $      0.24                 $     0.27  $      0.21
                  ============                =========== ============
Shares used in
 computing per
 share amounts:
 Basic                361,840                    361,840      372,690
                  ============                =========== ============
 Diluted              367,313                    367,313      379,080
                  ============                =========== ============



Tax rate                 15.0%                      17.0%        21.0%
% of Net Sales:
   Gross margin          67.6%                      67.7%        66.5%
   Research and
    development          18.6%                      16.8%        17.0%
   Selling,
    general, and
   administrative        23.7%                      21.2%        19.7%
   Income from
    operations           25.3%                      29.7%        29.9%
   Net income            25.6%                      28.7%        26.7%



Notes:
-----------------

(1) Adjustments consist of non-cash stock-based compensation expenses
     and related tax effects.

(2) The GAAP and Non-GAAP income statements above include amounts
     related to our  Nonqualified  Deferred  Compensation  Plan  (NQDC
          Plan).  The  NQDC  Plan  had  gains  of  $2.1  million  for  the  three
          month  periods  ended  September  29,  2006  and  September  30,  2005,
          respectively.  Gains  or  (losses)  were  included  in  interest  and
          other  income,  net,  as  well  as  operating  expenses.  There  was  no
          net  impact  in  any  period  presented  on  income  before  income  taxes
          or  net  income  arising  from  this  plan.



                                            THREE  MONTHS  ENDED
                                    ---------------------------
      NQDC  Impact        September  29    September  30
        (In  Millions)          2006                    2005
      --------------  ------------  --------------

      Increase  in
        R&D  Expense      $              1.2    $                  0.7
      Increase  in
        SG&A  Expense                    0.9                        1.4
                                    ------------  --------------
      Increase  in
        Interest  and
        other  income,
        net                      $              2.1    $                  2.1
                                    ============  ==============
 


« Previous Page 1 | 2 | 3 | 4 | 5 | 6  Next Page »



Review Article Be the first to review this article
CST: Webinar

Aldec Simulator Evaluate Now

Featured Video
Jobs
ASIC Hardware Engineer for BAE Systems Intelligence & Security at Arlington, VA
ASIC Design Engineer for Infinera Corp at Sunnyvale, CA
Acoustic Systems Test Engineer for Cirrus Logic, Inc. at Austin, TX
Senior PIC Test Development Engineer for Infinera Corp at Sunnyvale, CA
Principal PIC Hardware Controls Engineer for Infinera Corp at Sunnyvale, CA
Design Verification Engineer for Cirrus Logic, Inc. at Austin, TX
Upcoming Events
IC Open Innovation Panel During REUSE 2017 at Santa Clara Convention Center 5001 Great America Parkway Santa Clara CA - Dec 14, 2017
Essentials of Electronic Technology: A Crash Course at Columbia MD - Jan 16 - 18, 2018
Essentials of Digital Technology at MD - Feb 13 - 14, 2018
CST: Webinar series



Internet Business Systems © 2017 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise