Xilinx, one of the jewels in the crown of Ireland’s technology community, recorded a net profit of US$49.4m for the fourth quarter of fiscal 2003. This is compared to a net loss of US$3.4m in the previous quarter.
Xilinx, which makes microprocessors for a range of industrial applications, designated Ireland as its regional headquarters for Europe last month and employs 350 people at its facility in Citywest Business Park on the outskirts of the capital.
“Sales in the March quarter exceeded our expectations,” says Wim Roelandts, president and CEO of Xilinx (pictured). “Demand in Europe and Asia was particularly strong during the quarter increasing 20pc and 26pc sequentially, respectively. The strength in Europe was broad-based, while the strength in Asia was driven by increased consumer transfer business from north American customers. International sales now represent a record 55pc of total Xilinx revenue.”
2003 was a year of solid financial performance for Xilinx in spite of the sluggish overall economy and a weak technology sector. Revenues of US$1.16bn increased by 14pc in fiscal 2003 as new Xilinx products experienced strong customer acceptance and diversified into new markets and applications. Cash and investments increased by US$310m to a record US$1.1bn. Finally, Xilinx exited the year with a fourth quarter operating margin of 20pc, up from 15pc in the fourth quarter of fiscal 2002 and the highest in the PLD (programmable logic device or integrated circuit) industry.
Xilinx recently unveiled a €52m extension to its Irish research and development operation, design and operations centre and expects to increase job numbers in Ireland to 500 over the coming years. Its Irish operation now accounts for 21pc of group turnover.
By Lisa Deeney