Xilinx Jumps on Q3 Results
Shares of Xilinx (NASDAQ: XLNX) are trading higher in the after-hours following the release of the company's Q3 earnings results. Currently, shares are higher by 7.00%, trading at $37.77; they ended the regular session higher by 5.85%, at $35.30.
Xilinx reported Q3 EPS of $0.47 on revenues of $511.1 million; revenues decreased 10% year over year.
Xilinx's sales declined 8 percent sequentially during the December quarter, impacted by particularly weak business from large communications customers. The company's profitability as measured by gross margin and cash flow remained robust.
December quarter gross margin was 65.8 percent and operating cash flow for the quarter was $181.0 million.
Xilinx, Inc. designs, develops and markets programmable platforms. These programmable platforms have components, which includes integrated circuits in the form of programmable logic devices, including Extensible Processing Platforms; software design tools to program the PLDs; targeted reference designs; printed circuit boards, and intellectual property, which consists of Xilinx and various third-party verification and IP cores.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.