Xilinx Q1 Profit Tops Estimate; Revenue Misses

(RTTNews) - Programmable chip maker Xilinx, Inc. (XLNX) reported first quarter net income of $147.7 million or $0.55 per share, compared to $173.6 million or $0.62 per share for the year-ago quarter.

Net revenue for the first quarter fell 10% to $549.01 million from $612.63 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.54 per share on revenue of $556.68 million for the first quarter. Analysts' estimates typically exclude special items.

Looking forward to the second quarter, the company expects sales to be down 2% to 6% sequentially and gross margin to be 69% to 70%.