Xilinx Inc. (XLNX) reported that its third-quarter net income was $106.91 million or $0.38 per share, compared to $119.44 million or $0.44 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.35 per share for the quarter. Analysts' estimates typically exclude special items.
The latest quarter results included previously announced restructuring charges totaling $5.5 million, or approximately $0.02 per share. On a year over year basis, third quarter net income and earnings per share declined because in the third quarter of fiscal 2009 there was a $58.3 million pre-tax gain from the early extinguishment of convertible debentures, partially offset by a $19.5 million pre-tax impairment charge on investments.
Net revenues for the quarter were $513.35 million, compared to $458.39 million in the prior year quarter. Seventeen analysts had consensus revenue estimate of $491.67 million for the quarter.
For the fourth-quarter, Sales are expected to be up 3% sequentially to down 1% sequentially. Gross margin is expected to be approximately 64% to 65%. Operating expenses are expected to be approximately $180 million, including $3 million in previously announced restructuring charges. Other income and expense is expected to be a net expense of approximately $2 million. Seventeen analysts have consensus revenue estimate of $492.79 million for the fourth-quarter.
Xilinx announced a quarterly cash dividend of $0.16 per outstanding share of common stock, payable on March 3, 2010 to all stockholders of record at the close of business on February 10, 2010.
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