Xilinx 3Q profit down but beats

Xilinix reports weaker 3Q profit and sales but beats market expectations.

Associated Press

SAN JOSE, Calif. (AP) -- Xilinx Inc.'s fiscal third-quarter profit fell 18 percent on weak sales of its older products. Results still beat analysts' expectations, and its shares rose in after-hours trading.

The San Jose, Calif.-based chip maker reported late Thursday that it earned $103.6 million, or 38 cents per share. That's down from $127 million, or 47 cents per share, in the same quarter a year ago.

Revenue edged down to $509.8 million from $511.1 million. Revenue from new products jumped 79 percent, while base products fell 24 percent along with smaller declines in its mainstream products and service sales.

Analysts polled by FactSet expected the company to earn 37 cents per share on revenue of $527.7 million.

The company expects fiscal fourth quarter sales to increase 2 to 6 percent over the third quarter. That works out to $520 million to $576.6 million. Analysts expect $544.6 million.

Xilinx also declared a quarterly dividend of 22 cents per share, payable on Feb. 27 to shareholders of record as of Feb. 6.

Shares rose 26 cents to $36.70 in after-hours trading.

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