Xilinx fiscal 1Q net income climbs 21 percent

Aerospace sales help Xilinx 1st-quarter net income; results and outlook surpass estimates

Associated Press

SAN JOSE, Calif. (AP) -- Chipmaker Xilinx Inc. said Wednesday its net income rose 21 percent in the fiscal first quarter on greater sales of products used in wired communications and the aerospace and defense industries.

The company's shares were already trading around nine-year highs and they gained $1.57, or 3.6 percent, to $45.10 in after-hours trading.

Xilinx said its revenue from industrial, aerospace and defense customers rose 9 percent compared to last year. The company's net income and revenue surpassed Wall Street estimates, and the company also forecast strong sales in the fiscal second quarter.

Xilinx earned $157 million, or 56 cents per share, over the three months ended June 29. That's up from $129.8 million, or 47 cents per share, one year earlier. Revenue fell 1 percent, to $579 million from $582.8 million.

Analysts were expecting net income of 47 cents per share and $549.3 million in revenue, according to FactSet.

Xilinx said its revenue in the second quarter could be unchanged from the first quarter or it could grow as much as 3 percent. That suggests a total of $579 million to $596.3 million. The company reported $543.9 million in the second quarter of fiscal 2013.

Analysts expect $562.8 million on average.

Shares of Xilinx rose 24 cents to $43.53 on Wednesday. On Tuesday the stock rose to $43.88, its highest price since early 2004.

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