UPDATE 1-Xilinx lowers sales outlook on weak Asia
Wed Sep 13, 2006 4:52pm ET
(Adds details, stock price, analysts' estimates)
SAN FRANCISCO, Sept 13 (Reuters) - Xilinx Inc. (XLNX.O: Quote, Profile, Research), a maker of programmable microchips, on Wednesday lowered its sales forecast for its second fiscal quarter, citing weakness in the Asia Pacific region.
The company said it now expected second-quarter sales to fall 4 percent to 7 percent from the first quarter, down from its previous forecast that sales would be flat to down 5 percent.
Xilinx shares fell 1.7 percent to $21.17 in extended trading. It closed at $21.54 on Nasdaq after falling 1 percent in regular trading.
The company had revenue of $481.4 million in its first quarter, and the average forecast of Wall Street analysts for the second quarter was about $472.6 million, according to Reuters Estimates.
The company said in a short statement that the revision was "a result of lower than anticipated sales from the Asia Pacific region".
Xilinx's main competitor is Altera Corp. (ALTR.O: Quote, Profile, Research), which last week affirmed its third-quarter sales forecast of $334 million to $344 million, or flat to up 3 percent from the previous quarter. |
