Xilinx Incorporated (XLNX.O) recently reported more than expected quarterly profit and revenue statistics because of higher programmable chip sales to aerospace, industrial, and also defense customers, leading to the company’s overall shares up 5% in extended trading.
Xilinx’s customer lineup includes the United States Air Force, Ericsson (ERICb. ST), and also the European Organization for Nuclear Research, overall sales to aerospace, industrial, and also defense customers increased 8% in this year’s second quarter.
Xilinx’s overall revenue in the first quarter of the segment, which was 41%. The company’s positive results were recorded after multiple U.S. chipmakers had suggested in the past weeks that current demand for said chips from different industries that includes network equipment and automobile were already decreasing across regions, in particular Europe and Asia.
Microchip Technology Incorporated (MCHP.O) stated last week that they are expecting weaker quarterly sales and also warned of a possible significant downturn when it comes to the chip industry in the coming quarters.
The semiconductors manufactured by Xilinx are being sold easily off the shelf which can be programmed to do certain tasks by customers, significantly lowering expenses in developing custom chips.
Xilinx’s overall net income increased to $171.5M amounting to 62 cents for every share, during the quarter that ended on Sept. 27 from a value of $141.5M, with a previous amount of 49 cents for every share, the previous year earlier. Overall revenue also increased about 1%, amounting to a total of $604. 3 million.
Thomson Reuters I/B/E/S reported that average, analysts when it comes to average expected an overall profit of about 55 cents for every share and a total revenue of $601.7M.
Xilinx stated that their revenue expectation for the third-quarter will stay flat or will increase by up to 4% compared to its second quarter stats, which amounts to $604.3M to $628.5M. The company’s shares closed last Thursday on the Nasdaq at $38.49.