Xilinx posts record quarterly sales

Xilinx (San Jose, Calif.) posted a net income of $106.9 million, or 38 cents per diluted share, on sales of $513.3 million, the company said. The net income increased from $64 million in the previous quarter, but was down compared with $119.4 million in the year-ago quarter, Xilinx said. In the year-ago quarter Xilinx logged a $58.3 million pre-tax gain from the early extinguishment of convertible debentures, partially offset by a $19.5 million pre-tax impairment charge on investments.

Quarterly sales improved by 24 percent sequentially and 12 percent year-to-year, Xilinx said.

Analysts had, on average, been expecting Xilinx to report sales of about $491 million and earnings per share of about 32 cents, according to Yahoo Finance. Sales came in ahead of updated guidance issued by Xilinx last month.

"It was a record-setting quarter for Xilinx," said Moshe Gavrielov, Xilinx president and CEO, in a statement. Gavrielov said Xilinx's Virtex-5 family surpassed $100 million in quarterly sales, something he said was a record for any FPGA product.

"Based on new design win activity, I am confident about the prospects for continued sales growth from the Virtex-5 family," Gavrielov said.

Quarterly sales were driven by strength from all end markets and geographic regions, Xilinx said. New products sales increased 32 percent sequentially during the quarter, due primarily to strong growth from the Virtex-5 and Spartan-3 FPGA families, the company said.

Xilinx said it expects sales for the current quarter to be between $508.2 million and $528.6 million, a range of between down 1 percent and up 3 percent sequentially.