Altera Expects Q4 Revenue Guidance down 13-16% vs prior Guidance of down 7-11%

Altera Corporation

today announced updated fourth quarter 2011 revenue guidance. The company currently expects that fourth quarter revenue will be 13 to 16 percent lower than third quarter levels. Previous guidance was for a decline of 7 to 11 percent. The revenue outlook has deteriorated across all major vertical markets, including both large and small customers. With the exception of North America, which will benefit from rising military sales, all geographic regions will be weak. As the quarter has progressed, economic uncertainty, macroeconomic concerns, and, in some instances, lower than planned sales have resulted in customers reducing demand on Altera. Consistent with the third quarter, Altera believes it will continue to under ship customer end demand in the fourth quarter. The company will report fourth quarter results on January 24, 2012.