Xilinx Shares Decline After Light Forecast
Dylan McGrath, EETimes
4/28/2016 08:00 AM EDT
SAN FRANCISCO—Shares of programmable logic vendor Xilinx Inc. traded lower in after hours trading Wednesday (April 27) after the company reported quarterly results that beat consensus analysts’ expectations but forecast roughly flat sales for the current quarter.
Xilinx (San Jose, Calif.) said it expects sales for the current quarter, which closes in June, to be roughly flat with those it reported for the fourth quarter of its fiscal 2016, $571 million. The target fell short of Wall Street’s expectations, which called for Xilinx to post fiscal first quarter sales of about $579 million.
The $571 million in sales for the fiscal fourth quarter, which closed in March, came in up 1% compared with both the previous and year-ago quarters. The revenue figure beat consensus analysts’ expectations of about $566 million.
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