Xilinx, Inc. (NASDAQ:XLNX) reported better-than-expected results for its third quarter and issued strong fourth-quarter sales guidance.
The company, out of San Jose, reported record revenues of $800 million for the third quarter of fiscal year 2019, up 7% from the prior quarter and up 34% year over year. GAAP net income for the December quarter was $239 million, or $0.93 per diluted share. Non-GAAP net income for the December quarter was $237 million, or $0.92 per diluted share.
What’s more, the Xilinx Board of Directors declared a quarterly cash dividend of $0.36 per outstanding share of common stock payable on February 21, 2019 to all stockholders of record at the close of business on February 6, 2019.
CEO Victor Peng said, “Based on the guidance we are providing for the fiscal fourth quarter, we expect to exceed $3 billion in annual revenues for the first time in our history.
"In addition to the robust revenue growth, we also demonstrated strong profitability by posting over 60% growth in non-GAAP operating income and over 40% growth in non-GAAP diluted earnings per share year over year. We continue to execute to our strategy and drive growth across our portfolio"
Xilinx continued engagement momentum with several leading automotive customers during the quarter with the goal of enabling their roadmap toward automated driving. During the Xilinx Developer Forum in Frankfurt, Daimler showcased its AI solution in the new Mercedes GLE Sport Utility Vehicle that is powered by Xilinx machine learning algorithms and MPSoCs.
Shares skyrocketed $13.19, or 14.7%, to $102.74
