Boston, MA 05/14/2014 (wallstreetpr) – Altera Corporation (NASDAQ:ALTR) is a programmable solution company facilitates the electronic system designers to develop cost effective and innovative ways in the market. On May 6, 2014, the company was crowned ‘2014 Defender of the Year’ by the prestigious General Dynamics C4 Systems.
2014 Defender of the Year title
The news released on May 6, 2014 carried the outcome of the company’s hard work and dedication. The defence contractor, General Dynamics C4 Systems, announced Altera as the ‘2014 Defender of the Year.’ The title was named after Altera for ‘commendable on-time delivery and quality of programmable logic solutions.’
The Vice President of General Dynamics C4 Systems (Washington operation), James Norton presented the award to the company. Altera Corporation (NASDAQ:ALTR) earned the reputation for being consistent in meeting strict power, size, and weight and cost requirements for the programmable logic technology.
Senior manager of Altera excited
General Dynamics C4 Systems, which provides network service for the U.S. soldiers in the battle field, announced the award to Altera for its performance. Ian Land, the senior manager for the Military Aerospace and Government Business Unit at Altera shared his overwhelming comments for receiving such honoured awards.
Financial report of sales
However, such outstanding award truly complements the hard work and motivation of the company reflected in its 1Q2014 financial report. The financial report released by the company on April 24, 2014 was quite impressive. The sales went up by 1% over the fourth quarter of 2013 and 12% from the 1Q2013. The figure of the 2014’s first quarter was $461.1 million.
Net income
The net income was also affected by such marvellous performance of Altera. The registered net income for this quarter was $116.5 million or $0.37 per diluted share, which in the 4Q2013 was $98.9 million or $0.31 per diluted share and $120.2 million, $0.37 per diluted share in 1Q2013. Altera Corporation (NASDAQ:ALTR) repurchased almost 4.6 million shares during the quarter, which cost $161.8 million. However, the cash flow from operating activities was approximately $130 million. It was overall a decent quarter where the eminent personalities declared dividend of $0.15 per share payable on June 2, 2014.
