Xilinx Misses Estimates, Sees Sequential Revenue Decline

Xilinx(XLNX Quote) posted fourth-quarter earnings that fell short of Wall Street's expectations, blaming excess inventories and canceled orders, and the chipmaker warned that it expects revenue to decline sequentially in the upcoming fiscal quarter.

Earnings for the quarter fell to $65.7 million, or 19 cents a share, from $78.3 million, or 22 cents a share, in the year-ago period. The company earned $109.3 million, or 31 cents a share, in the latest third quarter. Analysts expected the company, which last month said revenue would fall short, to earn 22 cents a share in the latest quarter. ...