XLNX ($25-$33) P/E None!!.... Reports a Q2 pro forma loss of $0.13 a share vs a yr-ago profit of $0.32. The figure includes a "sizeable inventory write-down" of undisclosed amount. Before the writedown, analysts had expected XLNX to post a profit of $0.03. Rev for the qtr fell 22% sequentially to $224.6 mln (mean $221.8 mln).
Thursday October 18, 8:09 pm Eastern Time
Xilinx posts second-quarter net loss
(UPDATE: Adds details on product, geographical revenue)
SAN JOSE, Calif., Oct 18 (Reuters) - Xilinx Inc., which designs customized chips for communications and industrial applications, on Thursday posted a second-quarter net loss on a 49 percent drop in revenues due to a slowdown in the telecommunications industry and declining sales in Europe.
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For the second fiscal quarter ended Sept. 29, Xilinx (NasdaqNM:XLNX - news) had a net loss of $176 million, or 53 cents a share, compared with a profit of $114.1 million, or 32 cents a share a year ago.
On a pro forma basis, Xilinx had a loss of $43.7 million, or 13 cents a share. These results exclude several one-time items such as the write-down of certain investments.
Wall Street analysts expected San Jose, California-based Xilinx to post a profit in the range of 1 cent to 4 cents, with a mean forecast of 3 cents a share, according to research firm Thomson Financial/First Call.
Xilinx's second-quarter operating loss was $76.8 million, compared with an operating profit of $147.1 million a year ago. Revenues fell 49 percent to $224.6 million, from $437.4 million a year ago.
``The September quarter was another difficult quarter for Xilinx and the semiconductor industry,'' said Wim Roelandts, Xilinx's president and chief executive. ``The slowdown in European sales that Xilinx experienced at the end of the June quarter continued throughout the September quarter.''
Sales to European customers fell 48 percent from the first quarter and represented 19 percent of total revenue. North America tumbled 16 percent sequentially, but ``showed signs of stabilization,'' and was 52 percent of sales.
Japan was 14 percent of sales while Asia Pacific was 15 percent of revenue.
Fully 67 percent of its revenue came from sales into the communications industry, Xilinx said, with 20 percent coming from storage and servers, while sales to other industries were 13 percent of total sales.
Shares of Xilinx, which makes programmable logic devices, or PLD chips, fell $1.04 to $26.44 on Nasdaq before results were released. The stock has fallen about 43 percent this year, compared with a 30 percent decline in the stock of its principal competitor Altera Corp. |
