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Altera (ALTR) reported third-quarter earnings in line with analysts' expectations.

The maker of programmable logic devices reported net income for the latest third quarter of $118 million, or 28 cents a diluted share, in line with the 23-analyst

First Call/Thomson Financial

consensus estimate. The company earned $55.6 million, or 13 cents a share, in the same period a year ago.

Altera reported sales of $395.4 million for the third quarter, up from $215.1 million in the year-ago quarter.