Xilinx July Quarter Earnings Top Expectations
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.
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Both XLNX and ALTR main sectors are into networking and telecom products. Both strong foward looking statements in announcements. Indications of continue strength in networking an telecom sectors.
-schlep |
