Xilinx has announced net revenues of US$445.9m in the first quarter of fiscal year 2008, up 1pc sequentially from the prior quarter and down 7pc compared to the same quarter a year ago. First-quarter net income was US$84.3m, or US$0.28 per diluted share.
The Xilinx board of directors declared a quarterly cash dividend of US$0.12 per outstanding share of common stock.
Sales from all geographies were in line with expectations, with the exception of Europe, the company reported. Disappointing European sales were driven primarily by customers in the industrial and data processing categories.
Sales of new products were up to 28pc of total sales from 24pc in the prior quarter.
“While sales growth was slightly lower than originally anticipated, I am pleased with our progress during the quarter in the areas of expense reduction and inventory management,” said Wim Roelandts, CEO of Xilinx. “Expense controls contributed in part to an operating margin of 22pc for the quarter, up from 18pc in the prior quarter.”
For the next quarter Xilinx expects revenues to be flat or down slightly sequentially. Gross margin is expected to be between 62pc and 63pc.
By Niall Byrne
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