Altera maintains 2Q revenue growth forecast

Altera says it still expects 2nd-quarter revenue to grow 14 to 18 percent from 1st quarter

Associated Press

SAN JOSE, Calif. (AP) -- Chipmaker Altera Corp. said Thursday it still expects its revenue to grow 14 to 18 percent in the second quarter compared to the first quarter.

The forecast implies revenue of $437.5 million to $452.8 million for the company. Altera said it expects growth in most markets, including strong improvement in 28-nanometer and 40-nanometer products.

FactSet reports that analysts expect $445.9 million, on average.

The company had $548.4 million in revenue in the second quarter of 2011, and its outlook suggests sales will decline 17 to 20 percent from a year ago.

Altera is scheduled to report its quarterly results after the market closes July 24.

Shares of Altera fell 2.2 percent to close at $33.01 Thursday, and regained 67 cents, or 2 percent, to $33.68 in aftermarket trading.

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