SAN JOSE (dpa-AFX) - Programmable chipmaker Xilinx Inc. (XLNX) said Tuesday after the markets closed that its fourth quarter profit rose 19% from last year, as revenue increased 16%.
However, the company's quarterly earnings per share came in below analysts' expectations, but its quarterly revenue topped analysts' forecast. At the same time, the company gave a slightly downbeat revenue forecast for the current quarter.
'The tremendous success of our 28nm product portfolio has contributed to Xilinx PLD segment share gains for the third consecutive fiscal year,' said Moshe Gavrielov, Xilinx President and Chief Executive Officer. 'With March quarter sales exceeding $140 million, we have established an estimated 70% market segment share at 28nm for all of fiscal 2014.'
Xilinx shares are currently losing 4.62% in after hours trading after closing the day's regular trading session at $52.42, up a penny. The shares trade in a 52-week range of $36.03 to $55.59.
For the fourth quarter ended March 29, 2014, the San Jose, California-based company reported net income of $156.0 million or $0.53 per share, compared to $130.6 million or $0.47 per share for the year-ago quarter.
On average, 20 analysts polled by Thomson Reuters expected the company to earn $0.55 per share for the fourth quarter. Analysts' estimates typically exclude special items.
The latest quarter results include a loss of $10 million or $0.03 per share associated with the recent redemption of convertible notes.
Net revenue for the fourth quarter rose 16% to $617.82 million from $532.17 million in the same quarter last year. Twenty-three analysts had a consensus revenue estimate of $612.12 million for the fourth quarter.
Forty three percent of the company's third quarter revenue came from the Asia-Pacific region, which saw revenue growth of 48%. North America revenue remained flat with last year and constituted 27% of total revenue. Japan revenue grew 16%. However, the company saw revenue drop in Europe.
Looking forward, the company forecast first quarter sales to be up 0% to 4% sequentially, implying revenue of $617.82 million to $642.53 million. Analysts currently expect the company to post revenue of $638.35 million for the first quarter.
Gross margin for the first quarter is expected to be about 68%.
Another programmable chip maker Altera Corp. (ALTR) is scheduled to report its first quarter results on Thursday. Analysts currently expect the company to earn $0.32 per share on revenue of $437.97 million for the first quarter.
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