Altera sales increase in third quarter

Altera, a manufacturer of programmable logic devices, has announced third-quarter sales of $527.5m (£334.4m) − up 12 per cent from the second quarter of 2010 and 84 per cent from the third quarter of 2009.

New product sales increased 24 per cent sequentially.

Third-quarter net income was $217.5m, or $0.69 per diluted share, compared with net income of $180.6m, or $0.58 per diluted share, in the second quarter of 2010 and $56.7m, or $0.19 per diluted share, in the third quarter of 2009.