SAN JOSE -- Xilinx Inc. today reported a net loss of $10.5 million on sales of $450.1 million in the company's fiscal third quarter, ending Dec. 30. The net loss included charges and merger costs. Excluding those items, the programmable logic supplier said its income was $109.3 million.
The company's earnings per share missed Wall Street's consensus by a penny. Analysts were expecting Xilinx to post $0.32 per share but the company's earnings were $0.31 per diluted share, excluding goodwill amortization, merger costs and one-time charges.
Xilinx's fiscal third-quarter revenues increased 70% from $264.3 million in the period a year ago. Sequentially, revenues were up 3% from $437.4 in the prior three-month period. In December, Xilinx revised its revenue forecast for the quarter from 12% sequential growth to 5-to-7%, but its sales fell short of that lower target.
"The December quarter was impacted by the well-publicized inventory correction taking place at several of our global communications customers," said Wim Roelandts, president and chief executive officer of the San Jose chip company. While advanced products grew double-digits sequentially, mature and mainstream products declined."
Xilinx took unspecified charges related to its acquisition of RocketChips Inc., a Minneapolis-based supplier of mixed-signal transceivers, for $221 million in stock (see Nov. 10 story).