Xilinx Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 28, 2013; Declares Quarterly Cash Dividend, Payable on February 27, 2014; Provides Earnings Guidance for the Fourth Quarter and Fiscal Year 2014
For the nine months, the company reported net revenues of $1,764.708 million against $1,636.484 million a year ago. Operating income was $559.410 million against $433.505 million a year ago. Income before income taxes was $533.676 million against $408.681 million a year ago. Net income was $474.361 million or $1.66 per diluted share against $356.916 million or $1.31 per diluted share a year ago. Net cash provided by operating activities was $615.542 million against $482.884 million a year ago. Purchases of property, plant and equipment was $30.717 million against $24.053 million a year ago.
The Board of Directors announced a quarterly cash dividend of $0.25 per outstanding share of common stock, payable on February 27, 2014 to all stockholders of record at the close of business on February 6, 2014.
Other income and expense for fourth quarter 2014 is expected to be a net expense of approximately $7 million. The tax rate for the March quarter is expected to be approximately 13%.
For the fiscal year 2014, the company's sales are expected to be up 2% to up 6% sequentially. Gross margin is expected to be approximately 68%.