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Xilinix Beats Estimates

Programmable chip maker ekes out profit while revenue dips nearly 5%.

Programmable chip-maker


(XLNX) - Get Report

posted profits that beat analyst expectations by a penny in the second quarter, while revenue slipped by nearly 5%.

The company registered net income of $89.7 million, or earnings of 30 cents a share, compared to $93 million, or 27 cents a share, a year ago. Analysts polled by Thomson Financial were expecting earnings of 29 cents a share.

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Second-quarter revenue was $444.9 million, down 5% from the $467.2 million posted in the year-ago quarter. Analysts were expecting revenue of $444.7 million.

The company reported flat sales overall. One bright spot, the Asia-Pacific, accounted for 30% of sales, up from 25% in the year-ago quarter. Within the region, China and Korea, driven by stronger communications and consumer applications sales, showed the strongest growth on a year-over-year basis.

For the third quarter, Xilinx forecast revenue increases of 2% to 6% from $453.7 million to $471.5 million sequentially, and a gross margin of 62% to 63%.

Analysts polled by Thomson Financial are expecting revenue of $463.78 million and an estimated 31 cents in earnings per share.

Xilinx declared a quarterly cash dividend of 12 cents a share payable on Dec. 5. to stockholders of record at the close of business on Nov. 14.

Shares of Xilinx were off 20 cents, or 0.7%, to $25.76 in recent after-hours trading.