Altera Q2 Profit Declines; Yet Meets Estimate - Quick Facts

(RTTNews) - Altera Corp. (ALTR) reported net income for the second quarter of $101.5 million or $0.31 per share, compared to $162.7 million or $0.50 per share for the year-ago quarter. On average, 29 analysts polled by Thomson Reuters expected the company to earn $0.31 per share. Analysts' estimates typically exclude special items.

Second quarter sales declined 9% to $421.76 million from $464.83 million in the comparable quarter last year, while 26 analysts expected revenues of $420.90 million for the quarter.

As previously announced, Altera's board of directors has declared a quarterly cash dividend of $0.15 per share, to be paid on September 3, 2013 to stockholders of record on August 12, 2013.