Xilinx quarterly revenue drops, profit up
4:44 PM ET 1/14/09
SAN FRANCISCO, Jan 14 (Reuters) - Xilinx Inc (XLNX), a maker of programmable chips, said quarterly revenue fell as the economic recession hit demand for its products, but net income rose on a pretax gain.
The company said on Wednesday net income for its fiscal third quarter ended Dec 27, rose 35 percent to $139.4 million, or 51 cents per share, including items. In the same quarter last year, the San Jose-based company earned $103.6 million, or 35 cents per share.
Excluding an $89.7 million pretax gain and a $19.5 million pretax impairment charge, Xilinx earned 32 cents per share, one cent higher than the average Wall Street estimate of 31 cents per share, according to Reuters Estimates.
Revenue fell 3 percent to $458.4 million from the year-ago quarter. Analysts were expecting Xilinx to earn revenue of $440.8 million, according to Reuters Estimates.
Last month, Xilinx lowered its third quarter sales outlook because of weaker-than-anticipated demand in December from customers in various markets.
Xilinx makes chips that are programmed to perform specific tasks in a range of devices, from network routers to DVD players.
Xilinx shares closed Wednesday down 73 cents, or 4.5 percent, at $15.50 on the Nasdaq. They were trading slightly higher at $15.74 in extended trade. |
