Xilinx July Quarter Earnings Top Expectations
(Note: XLNX is one of the largest customers of Amkor just behind INTC and TXN. Almost every chip company -- TXN, STM, CY, XLNX, ... is reporting or reported earnings that top expectations)
dailynews.yahoo.com
PALO ALTO, Calif. (Reuters) - Xilinx Inc. (Nasdaq:XLNX - news), a leading maker of chips used in cell phones and data networking equipment, Tuesday reported quarterly results that topped expectations as it rode a rebound in the semiconductor industry.
The San Jose, Calif. firm said net income in the quarter ended July 3, 1999 rose to a record $51.6 million, or 31 cents a diluted share, from a loss of $635,000 in the similar period a year ago. Revenue rose 41 percent to $211.4 million from $149.5 million.
The results topped analyst forecasts of 28 cents a share, according to First Call Corp., which tracks such figures.
The semiconductor industry is steadily coming out of its worst slump ever and chip giants such as Intel Corp. (Nasdaq:INTC - news) are forecasting a strong second half of the year.
Companies such as Xilinx and Altera Corp. (Nasdaq:ALTR - news), which make chips used in data networking gear and cell phones are also reaping profits because of stiff demand.
Xilinx makes so-called programmable logic devices and field programmable gate-array semiconductors, both of which can be reprogrammed by the customer to perform different functions.
Xilinx stock close down $2.56 at $58.56 on the Nasdaq amid a rout in technology shares. The stock has surged from a year-low of $14.88. |
