SAN FRANCISCO—Market-leading programmable logic supplier Xilinx Inc. posted its third consecutive quarter of record sales in the period ended July 3, once again beating consensus analyst expectations for sales and profit.
Xilinx (San Jose, Calif.) reported sales for the quarter of $594.7 million, an increase of 12 percent compared to the previous quarter and an increase of 58 percent compared with the year ago quarter. The company posted a net income of $158.6 million, or 56 cents per diluted share, up 7 percent from $148.5 million in the previous quarter and more than four times its net income in the year ago quarter, $38 million.
"It was an exceptional quarter on a number of fronts," said Moshe Gavrielov, Xilinx president and CEO, in a statement. "In addition to record sales, operating income increased 33 percetn sequentially to $208 million, a new milestone for Xilinx."
Gavrielov attributed the company's improved profitability to robust sales and continued fiscal discipline.
Consensus analyst expectations had called for Xilix to report sales of $586.6 million and a net income of 53 cents per share, according to Yahoo Finance.
Programmable logic vendors continue to thrive in a hot market, with overall revenue for the market segment on track to break the all time record set in 2000. On Tuesday (July 21), Xilinx rival Altera Corp., the No. 2 player in the programmable logic market, reported its second straight quarter of record sales.
Forty-seven percent of Xilinx' revenue during the quarter came from the communications market segment, the same percentage as the previous quarter. Revenue from the communications segment increased 12 percent quarter-to-quarter and 53 percent year-to-year.
Revenue from new products—including the Virtex-6, Virtex-5, Spartan-6, Spartan-3A and Spartan-3E product families—accounted for 39 percent of quarterly revenue, up from 26 percent the previous period. Revenue from new products rose 23 percent sequentially and 148 percent year-to-year.
Xilinx said it expects sales for the current quarter to grow 3 to 7 percent sequentially, reaching between $612.5 million and $636.3 million.