Altera Corp. (ALTR) reported net income for the first quarter of $120.2 million or $0.37 per share, compared to $115.8 million or $0.35 per share for the year-ago quarter.
First quarter sales rose 7% to of $410.50 million from $383.75 million in the same quarter last year.
Analysts polled by Thomson Reuters expected the company to earn $0.33 per share on revenue of $413.75 million for the first quarter.
Looking forward, the company aid it expects second quarter sales to be flat to up 4% sequentially.
Gross margin for the second quarter is expected to be 69% +/- .5%.
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