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.