Xilinx Q3 Results Miss Estimates

(RTTNews) - Xilinx, Inc. (XLNX) reported net income was $168.5 million or $0.62 per share, compared to $175.9 million or $0.61 per share for the year-ago quarter.

The latest quarter results include a $0.02 per share benefit mainly related to the reinstatement of the R&D tax credit.

Third quarter revenue rose 1% to $593.55 million from $586.82 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.61 per share on revenue of $616.59 million for the third quarter. Analysts' estimates typically exclude special items.

Looking forward, the company said it expects fourth quarter sales to be down 2% to down 6% sequentially. Gross margin for the fourth quarter is expected to be about 68% to 69%. Analysts currently expect the company to post revenue of $635.37 million for the fourth quarter.