Xilinx Down on Revenue Miss

Xilinx ( XLNX) posted net income of $95.3 million, or 26 cents a share, for the first quarter of fiscal year 2005, up 106% from the same period a year ago.

The San Jose, Calif.-based maker of programmable logic chips delivered revenue of $423.6 million in the first quarter of fiscal year 2005, up 35% from last year's levels and 5% from the prior quarter.

Sales came up short of the Wall Street consensus estimate of $432.4 million, however.

Investors dinged the company for the revenue miss and weaker-than-expected sales guidance, sending the stock down $1.07 or 3.5% to $29.60 in recent after-hours trading. In regular trading, shares closed up 17 cents or 0.6% to $30.67.

The latest profit number reflects a $7.2 million pretax charge for the acquisition of Hier Design in June. Xilinx did not break out a pro forma number, but analysts were expecting 28 cents a share.

Xilinx said its gross margin increased for the sixth consecutive quarter to 66%, up from 60.1% a year ago and 64.7% in the prior quarter.

Xilinx predicted revenue will increase 2% to 4% in the quarter ending in September, or $432.1 million to $440.5 million, with gross margin of about 65%. Wall Street analysts were expecting revenue of $445.9 million and 29 cents earnings. The company did not provide EPS guidance.

More from Technology

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Experts Break Down GDPR Risks for Investors

Experts Break Down GDPR Risks for Investors

4 Billionaires Trying to Make Space Travel a Reality

4 Billionaires Trying to Make Space Travel a Reality

Facebook CEO Mark Zuckerberg Deflects Tough Questions From European Parliament

Facebook CEO Mark Zuckerberg Deflects Tough Questions From European Parliament

These 5 Autonomous Driving Stocks Are Flashing Buy Signals

These 5 Autonomous Driving Stocks Are Flashing Buy Signals