Xilinx (XLNX) has reported 8.43 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $141.85 million, or $0.52 a share in the quarter, compared with $130.82 million, or $0.49 a share for the same period last year. Revenue during the quarter grew 3.44 percent to $585.69 million from $566.24 million in the previous year period. Gross margin for the quarter expanded 110 basis points over the previous year period to 69.57 percent. Total expenses were 72.17 percent of quarterly revenues, up from 71.72 percent for the same period last year. That has resulted in a contraction of 45 basis points in operating margin to 27.83 percent.
Operating income for the quarter was $162.97 million, compared with $160.10 million in the previous year period.
"Xilinx delivered growth for the fifth consecutive quarter. Sales from our 16nm Ultrascale+, 20nm Ultrascale, and 28nm Zynq products contributed to significant market expansion. The growth from these products was driven by a broad base of markets such as data center, automotive, test measurement, wired and wireless communications and space," said Moshe Gavrielov, Xilinx president and chief executive officer. "Our FY17 strategic increase in R D investment continues to pay off with the recent expansion announcement of our 16nm portfolio integrating High Bandwidth Memory and Cache Coherent Interconnect technology into Ultrascale+ FPGAs. In addition, our 16nm execution continues unabated. We are currently shipping 12 unique products to nearly 300 customers and remain over a year ahead of the competition."
For the fourth-quarter, Xilinx expects revenue to be in the range of $590 million to $620 million.
Working capital declinesXilinx has witnessed a decline in the working capital over the last year. It stood at $2,906.01 million as at Dec. 31, 2016, down 5.51 percent or $169.37 million from $3,075.38 million on Jan. 02, 2016. Current ratio was at 3.88 as on Dec. 31, 2016, down from 4.30 on Jan. 02, 2016. Days sales outstanding went up to 48 days for the quarter compared with 42 days for the same period last year.
Days inventory outstanding has decreased to 53 days for the quarter compared with 112 days for the previous year period.
Debt increases substantially
Xilinx has witnessed an increase in total debt over the last one year. It stood at $1,589.63 million as on Dec. 31, 2016, up 59.67 percent or $594.05 million from $995.58 million on Jan. 02, 2016. Total debt was 32.87 percent of total assets as on Dec. 31, 2016, compared with 20.33 percent on Jan. 02, 2016. Debt to equity ratio was at 0.64 as on Dec. 31, 2016, up from 0.38 as on Jan. 02, 2016. Interest coverage ratio deteriorated to 415.74 for the quarter from 31.68 for the same period last year. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
