DOW JONES NEWSWIRES
Altera Corp. (ALTR) boosted its third-quarter revenue target as
the logic-chip maker noted improved sales.
Still, shares were down 2.4% to $19.85 in after-hours
trading.
The company said all market segments, except for the telecom and
wireless space, will be sequentially up. It said in those segments,
the declines have been more moderate than previously estimated due
to better than expected demand in Asia.
As a result, Altera expects third-quarter sales to be flat to up
3% from the second quarter's $279.2 million. Its prior target was a
sales drop of 1% to 5% sequentially.
Altera also raised its operating-expenses target for the quarter
to $126 million to $128 million from $122 million to $126 million
on previously disclosed severance costs.
Altera designs chips that customers can program for use in such
products as Internet routers, mobile-phone base stations,
flat-panel televisions and DVD players.
-By John Kell, Dow Jones Newswires; 212-416-2480;
john.kell@dowjones.com
