SAN JOSE, Calif., March 8, 2012 -- Altera Corporation (NASDAQ: ALTR) today announced updated first quarter 2012 revenue guidance.
Initial guidance for the first quarter was for a 5 to 9 percent sequential revenue decline, largely the result of program timing in the military vertical market and continued softness in sales to wireless customers. As the quarter has progressed, the company has experienced somewhat more pronounced and broader than anticipated inventory adjustment related weakness and now believes that first quarter revenue will be 7 to 9 percent lower than fourth quarter levels.
The company continues to expect that revenue in the second quarter of 2012 will be above first quarter levels. Quarter-to-date book to bill remains above 1.0.
First quarter results will be released after the market close on April 19, 2012.
Altera programmable solutions enable system and semiconductor companies to rapidly and cost-effectively innovate, differentiate and win in their markets. Find out more about Altera's FPGA, CPLD and ASIC devices at www.altera.com.