SAN FRANCISCO—Programmable logic vendor Xilinx Inc. Thursday (Jan. 18) reported sales for its most recent quarter that exceeded consensus analysts' expectations and also gave better-than-expected guidance for the current quarter.
Xilinx (San Jose, Calif.) reported sales of $511.1 million for the quarter, down 8 percent from the previous quarter and down 10 percent from the year-ago quarter. The company posted a net income of $127 million, or 47 cents per diluted share for the quarter, up 1 percent from the previous quarter but down 17 percent compared to the year-ago quarter, Xilinx said.
Xilinx' sales for the quarter exceeded consensus analysts' expectations, which had pegged the company's sales for the period at $499.3 million, according to Yahoo Finance. Sales for the quarter also came in better than Xilinx' revised target. Last month the company cut its guidance for the quarter to between $488.6 million and $505.2 million, citing a decline in larger customer business in the communications end market.
Included in the net income for the quarter was a tax benefit of $15.3 million related to one-time items including the lapse of the statute of limitations with respect to previously unrecognized tax positions, Xilinx said.
For the current quarter Xilinx said it expects sales to rise to between $521.3 million and $541.8 million, which would represent sequential growth of 2 to 6 percent. The company's guidance for the quarter exceeded consensus analysts' expectations, which had called for sales of about $510.7 million for the current quarter, according to Yahoo Finance.