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Xilinx profit misses consensus by 29.1% in fiscal Q1

Xilinx, Inc. said its normalized net income for the fiscal first quarter ended July 1 amounted to 43 cents per share, compared with the S&P Capital IQ consensus estimate of 60 cents per share.

In the prior-year period, the per-share result was a profit of 43 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $113.9 million, compared with $113.5 million in the prior-year period.

The normalized profit margin declined to 18.5% from 19.7% in the year-earlier period.

Total revenue rose 7.0% on an annual basis to $615.4 million from $575.0 million, and total operating expenses climbed 11.9% year over year to $435.0 million from $388.8 million.

Reported net income grew on an annual basis to $167.5 million, or 63 cents per share, from $162.4 million, or 61 cents per share.