Altera Files Delayed Report

The chipmaker reports a 14% rise in second-quarter earnings.
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(ALTR) - Get Report

filed its long-awaited second-quarter report with the

Securities and Exchange Commission

Tuesday following a delay related to a stock options probe.

The chipmaker said its earnings for the June quarter climbed to $77.3 million, or 21 cents a share, from $67.6 million, or 18 cents a share, a year earlier.

Excluding stock options costs, earnings were 25 cents a share, beating Thomson First Call's mean analyst estimate by 2 cents.

Altera had already reported that its revenue for the second quarter had climbed 17% to $334.1 million. The company had delayed giving bottom-line figures, however, due to an investigation into the so-called backdating of stock options.

Altera said last week that it had completed its options probe, which found accounting errors dating back to 1996. The company plans to restate past results downward by $35.2 million to fix the results. Altera also said that its chief financial officer, Nathan Sarkisian, retired after the completion of the investigation.

The late filing of its Form 10-Q had put the company in danger of being delisted from


; Tuesday's filing put the company up to date with its periodic reports.

Altera will report its third-quarter results Nov. 6.