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Profit Flat at Xilinx

The company guides revenue in line for the current quarter.
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Second-quarter revenue and earnings were essentially flat at Xilinx (XLNX) - Get Free Report, but the company's per-share profit was better than what analysts had expected.

The chipmaker said late Thursday that earnings fell to $85.6 million, or 24 cents a share, from $86.2 million, or 24 cents a share a year earlier. Revenue fell to $398.9 million from $405.4 million a year ago.

The earnings results beat Thomson First Call's expectations of earnings of 22 cents a share, while revenue was in line with the Street's projections.

Turns business, which are orders booked and shipped within the quarter, were weaker than anticipated in September, Xilinx said. Most of this weakness was concentrated among large communications and storage companies that have manufacturing operations in Asia Pacific. Combined sales from Xilinx's 90-nanometer products doubled sequentially, meeting expectations and representing 10% of total revenue.

For the third quarter, Xilinx expects sequential revenue growth of 1% to 5%, or a range of $403 million to $419 million. Analysts are expecting the company to post revenue of $417.5 million in the quarter.

Following the announcement, shares of Xilinx fell 1.3% in after-hours trading to $22.52 on Instinet.