Financial News – 2007.09.11

Xilinx, Inc. (Nasdaq: XLNX) recently released its business update for the September quarter of fiscal 2008:

  • September quarter sales are expected to be approximately flat sequentially. This is a slight revision from previous guidance calling for sales to be flat to slightly down sequentially.
  • Sequential sales growth by geography is tracking as expected with sales from Japan expected to be up, sales from Asia Pacific expected to be approximately flat and sales from North America and Europe expected to be down slightly sequentially.

Last week, Altera Corporation (NASDAQ:ALTR) released its mid-quarter update for the third quarter of 2007:

  • The company reaffirms that it expects third quarter sales to be flat to 3 percent higher compared with the second quarter of 2007, in line with prior guidance.
  • As expected, the company’s new product category is showing growth in comparison to the similar period in the prior quarter.

Altera Corporation (NASDAQ:ALTR) also announced that the company has received a five-year, $750 million unsecured credit line. At this time, Altera has not borrowed any funds using the credit line. The credit agreement provides for an interest rate based on the London interbank offered rate plus a margin based on the company’s leverage ratio. Altera plans to use approximately $500 million from the credit line (if necessary) to repurchase up to $1.5 billion Altera shares.

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Xilinx, Inc.
Altera Corporation