Xilinx Inc. announced unaudited consolidated earnings results for third quarter and nine months ended December 27, 2014. For the quarter, the company reported net revenues of $593,549,000, operating income of $190,009,000, income before income taxes of $186,002,000, net income of $168,466,000 or $0.62 per diluted share, purchases of property, plant and equipment of $6,139,000 compared to the net revenues of $586,816,000, operating income of $202,739,000, income before income taxes of $197,932,000, net income of $175,877,000 or $0.61 per diluted share, purchases of property, plant and equipment of $10,975,000 for the same quarter a year ago. Operating cash flow for the December quarter was $291 million before $6 million in CapEx. Strong cash flow during the quarter was positively impacted by a net improvement in working capital led by the timing impact of accounts receivable.

For the nine months period, the company reported net revenues of $1,810,445,000, operating income of $596,558,000, income before income taxes of $580,598,000, net income of $513,593,000 or $1.85 per diluted share, purchases of property, plant and equipment of $23,682,000 compared to the net revenues of $1,764,708,000, operating income of $559,410,000, income before income taxes of $533,676,000, net income of $474,361,000 or $1.66 per diluted share, purchases of property, plant and equipment of $30,717,000 for the same period a year ago.

The company provided earnings guidance for the quarter ending March 2015. For the quarter ending March 2015, the company sales are expected to be down 2% to down 6% sequentially. The midpoint of this guidance is predicated on a turns rate of approximately 51%. Gross margin is expected to be approximately 68% to 69%. Operating expenses are expected to be approximately $227 million including $2.5 million of amortization of acquisition-related intangibles. Other income and expenses are expected to be a net expense of approximately $7 million. March quarter tax rate is expected to be approximately 13%.