SAN JOSE, Calif. (AP) — Xilinx Inc., a maker of programmable computer chips, said Wednesday its fiscal third-quarter 2012 net income fell 17 percent on lower sales as business declined particularly from large communications customers.
The results however beat Wall Street estimates and shares rose in extended trading.
The San Jose, Calif.-based company posted net income of $127 million, or 47 cents per share, compared with $152.3 million, or 58 cents per share, a year ago.
Results included a tax benefit of $15.3 million, or 6 cents per share, related to one-time items.
Revenue fell 10 percent to $511.1 million from $567.2 million a year ago.
Analysts surveyed by FactSet expected 37 cents per share on revenue of $498.3 million. Analysts typically exclude one-time items from their estimates.
Xilinx shares rose $1.95, or 5.9 percent, to close at $35.30. In after-hours trading, they rose another $2.55, or 7.2 percent. Shares are up more than 11 percent in the past 52 weeks.
The revenue decline occurred in all regions, led by Asia Pacific, which saw a 17 percent decline. North America and Europe sales were both off 6 percent. Japan sales fell 4 percent from a year ago.
Segment revenue fell most — 13 percent — among communications customers. Industrial was down 9 percent and consumer and automotive, 8 percent. Data processing sales rose 6 percent from a year ago.
Xilinx expects sales for the fiscal quarter ending in March to increase between 2 percent and 6 percent from the quarter just ended.