Xilinx’s Second Quarter Fiscal 2008 Results

Xilinx, Inc. (Nasdaq: XLNX) announced net revenues of $444.9 million in the second quarter of fiscal 2008, flat sequentially with the prior quarter and down 5% compared to the same quarter a year ago. Second quarter net income was $89.7 million, or $0.30 per diluted share. Xilinx shares rose 1.69% in after-hours trading to $26.40.

Quarter Highlights:

  • For the second consecutive quarter, Xilinx experienced strong sales from the domain optimized Virtex-4 FX family, which includes embedded transceiver and processing functionality. Sales from this family increased 170% in the second quarter versus the same quarter a year ago representing over 30% of the overall Virtex-4 family, up from 15% in the same quarter last year.
  • Xilinx demonstrated its commitment to serving the high growth Asia Pacific market at the recent opening ceremonies for its new regional headquarters in Singapore. The headquarters provides infrastructure and support for all of Xilinx’s activities in the region and includes facilities for research and development, marketing, manufacturing and testing, logistics warehousing and regional business operations. Xilinx is currently the largest PLD vendor in Asia Pacific, with 48% market segment share in CY2006.
  • Xilinx received the Cisco Excellence in Delivery and Flexibility supplier appreciation award during the quarter. Xilinx was among an exclusive group of suppliers honored at Cisco’s recent 16th annual supplier appreciation day and received the award based on its support of Cisco’s flexibility and lead-time requirements.

Outlook for Next Quarter:

  • Revenues are expected to be up 2% to 6% sequentially
  • Gross margin is expected to be between 62% and 63%
  • Operating expenses are expected to be approximately flat sequentially
  • Other income including interest expense is expected to be approximately $12 million
  • Tax rate is expected to be approximately 21%
  • Fully diluted share count is expected to be approximately 297 million shares

More info:
» Xilinx Announces Second Quarter Fiscal 2008 Results
» Xilinix Reports Higher Q2 Net Income, Despite 5% Drop In Total Revenues
» Xilinx quarterly profit falls