Altera Announces 2007 Results


Forward-Looking Statements

Statements in this press release that are not historical are "forward-looking statements" as the term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally written in the future tense and/or preceded by words such as "will," "expects," "anticipates," or other words that imply or predict a future state. Forward-looking statements include any projection of revenue, gross margin, expense or other financial items discussed in the Business Outlook section of this press release. Investors are cautioned that all forward-looking statements in this release involve risks and uncertainty that can cause actual results to differ from those currently anticipated, due to a number of factors, including without limitation, customer business environment, vertical market mix, market acceptance of the company's products, product introduction schedules, the rate of growth of the company's new products including the Arria(TM) GX, Cyclone II, Cyclone III, Stratix II, Stratix III, Stratix II GX, MAX II and HardCopy(R) device families, changes in the mix of our business between prototyping and production-based demand, as well as changes in economic conditions and other risk factors discussed in documents filed by the company with the Securities and Exchange Commission from time to time. Copies of Altera's SEC filings are posted on the company's web site and are available from the company without charge. Forward-looking statements are made as of the date of this release, and, except as required by law, the company does not undertake an obligation to update its forward-looking statements to reflect future events or circumstances.

About Altera

Altera's programmable solutions enable system and semiconductor companies to rapidly and cost-effectively innovate, differentiate and win in their markets. Find out more at www.altera.com.

Altera, The Programmable Solutions Company, the stylized Altera logo, specific device designations and all other words that are identified as trademarks and/or service marks are, unless noted otherwise, the trademarks and service marks of Altera Corporation in the U.S. and other countries. All other product or service names are the property of their respective holder.
                          ALTERA CORPORATION
             CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                (In thousands, except per share data)
                             (Unaudited)



                      THREE MONTHS ENDED             YEAR ENDED
                 ----------------------------- -----------------------
                  Dec. 28  Sept. 28   Dec. 29    Dec. 28     Dec. 29
                   2007      2007      2006       2007        2006
                 ----------------------------- -----------------------

Net sales        $323,167  $315,783  $317,392  $1,263,548  $1,285,535
Cost of sales     116,051   114,369   107,007     448,025     427,975
                 --------- --------- --------- ----------- -----------

Gross margin      207,116   201,414   210,385     815,523     857,560
                 --------- --------- --------- ----------- -----------

Operating
 expenses (1):
 Research and
  development      72,705    71,350    58,355     265,581     248,720
 Selling,
  general, and
  administrative   69,280    66,062    73,994     274,989     307,765
                 --------- --------- --------- ----------- -----------
Total operating
 expenses         141,985   137,412   132,349     540,570     556,485
                 --------- --------- --------- ----------- -----------

Income from
 operations        65,131    64,002    78,036     274,953     301,075
Interest and
 other, net        11,397    16,180    18,842      62,675      58,595
                 --------- --------- --------- ----------- -----------

Income before
 income taxes      76,528    80,182    96,878     337,628     359,670
Provision
 (benefit) for
 income taxes      11,051    11,225    (2,984)     47,605      36,434
                 --------- --------- --------- ----------- -----------

Net income       $ 65,477  $ 68,957  $ 99,862  $  290,023  $  323,236
                 ========= ========= ========= =========== ===========

Net income per
 share:
   Basic         $   0.20  $   0.20  $   0.28  $     0.84  $     0.90
                 ========= ========= ========= =========== ===========
   Diluted       $   0.20  $   0.20  $   0.27  $     0.82  $     0.88
                 ========= ========= ========= =========== ===========

Shares used in
 computing per
 share amounts:
   Basic          328,084   343,127   362,569     345,382     361,096
                 ========= ========= ========= =========== ===========
   Diluted        331,807   352,625   368,448     351,906     367,372
                 ========= ========= ========= =========== ===========

Cash dividends
 declared per
 common share    $   0.04  $   0.04  $      -  $     0.12  $        -
                 ========= ========= ========= =========== ===========

Tax rate             14.4%     14.0%     -3.1%       14.1%       10.1%
% of Net sales:
 Gross margin        64.1%     63.8%     66.3%       64.5%       66.7%
 Research and
  development        22.5%     22.6%     18.4%       21.0%       19.3%
 Selling,
  general, and
  administrative     21.4%     20.9%     23.3%       21.8%       23.9%
 Income from
  operations
  (Operating
  margin)            20.2%     20.3%     24.6%       21.8%       23.4%
 Net income                    20.3%          21.8%          31.5%              23.0%              25.1%

Note:
-----------------

  (1)  Includes
    restructuring
    expenses  as
    follows:

  Research  and
    development        $    1,767    $            -    $            -    $        1,767    $                -
  Selling,
    general,  and
    administrative  $    3,472    $            -    $            -    $        3,472    $                -
                                  ---------  ---------  ---------  -----------  -----------
                  Total      $    5,239    $            -    $            -    $        5,239    $                -
                                  =========  =========  =========  ===========  ===========
 


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