Altera announces first-quarter 2011 financial results

Silicon Valley manufacturer Altera has announced first-quarter sales of $535.8m (£325.1m), down four per cent from the fourth quarter of 2010 and up 33 per cent from the first quarter of 2010.

New product sales increased 13 per cent sequentially.

First-quarter net income was $224.1m, $0.68 per diluted share, compared with net income of $231.6m, $0.72 per diluted share, in the fourth quarter of 2010 and $153.2m, $0.50 per diluted share, in the first quarter of 2010.