Xilinix Rises After Fiscal Q3 Results

Programmable platform manufacturer Xilinx XLNX released its fiscal third-quarter financial results on Thursday after the closing bell. The company reported net income of $103.65 million, or $0.38 per share, compared to $127.01 million or $0.47 per share, in the year ago period. This beat Wall Street analysts' consensus earnings estimates of $0.37 by a penny. Net revenue in the period fell to $509.77 million from $511.09 million last year. This came in well below analysts' consensus revenue estimates of $527.66 million. Looking ahead, Xilinx said that it expects fourth-quarter sales to rise from 2 to 6 percent sequentially. Gross margins are expected to be 66 percent and operating expenses are expected to be roughly $208 million. In Thursday's after hours, XLNX was last trading up almost 2 percent to $37.06. During the regular trading day, the stock rose 0.66 percent to $36.44. Over the last month, XLNX is up a little less than 3 percent while shares have risen almost 18 percent over the last 6 months.