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Tech Industry

Xilinx beats Street, sets stock split

    Xilinx Inc. (Nasdaq: XLNX) hurdled analysts' estimates in its second quarter Tuesday, earning $59.2 million, or 35 cents a share, on sales of $238.8 million. It also set a 2-for-1 stock split.

    First Call consensus expected the chipmaker to earn 33 cents a share.

    Xilinx shares finished up 7/16 to 68 5/8 ahead of the earnings report.

    Including a one-time acquisition charge of $4.6 million related to the acquisition of Philip's CPLD business, Xilinx earned $56 million, or 33 cents a share, in the quarter.

    The $238.8 million in sales represents a 53 percent jump compared to the year-ago period when it earned $27.8 million, or 19 cents a share, on sales of $156.5 million.

    "The September quarter exceeded our expectations," said CEO Wim Roelandts in a prepared release. "Revenues from all geographies were up sequentially during the quarter. Most surprisingly, European revenues--which tend to be seasonally weak during the September quarter--were up nearly 22 percent sequentially."

    Last quarter, Xilinx earned $51.6 million, or 31 cents a share, on sales of $211.4 million.

    Xilinx officials said the 2-for-1 split will take effect Dec. 27 for shareholders of record on Dec. 17.

    Its shares moved up to a 52-week high of 77 1/4 in September after falling to a low of 19 1/4 last October.

    Eighteen of the 21 analysts following the stock maintain either a "buy" or "strong buy" recommendation.