Xilinx also announced today that the Company's Board of Directors declared a quarterly cash dividend of $0.05 per outstanding share of common stock, payable on March 2, 2005 to all stockholders of record at the close of business on February 16, 2005.
Additional fiscal third quarter comparisons are represented in the chart below.
Excess inventory levels at end customers led to weaker than expected orders during the quarter, particularly in the telecom sector. Sales from communications customers decreased 22% sequentially and represented 47% of total revenues, down from 53% last quarter. All geographies declined sequentially.
"It was a challenging quarter for Xilinx and the PLD industry," said Wim Roelandts, Xilinx's Chairman and CEO. "However, I remain encouraged by our solid new product execution which has enabled us to introduce an unprecedented number of devices during the last six months. Additionally, as we exit 2004, I expect Xilinx to capture PLD market segment share for the seventh consecutive calendar year."
Business Review - December Quarter FY05
A fourth quarter business update will be issued in the form of a press release after the market closes on Tuesday, March 8, 2005. Financial guidance to the investment community will be limited to the points mentioned in the business update document. Please sign up for a push email alert, which is available from our investor relations web site at http://www.investor.xilinx.com .
This release contains forward-looking statements and projections. Actual events and results may differ materially from those in the forward-looking statements and are subject to risks and uncertainties including the general health of global economies as well as of the semiconductor industry, the health of our end markets and our customers' customers, our ability to forecast end customer demand, potential impact to customer ordering patterns, customer acceptance of our new products, the ability of our customers to manage their inventories, a high dependence on turns business, higher-than- anticipated product delinquencies, more customer volume discounts than expected, fluctuations in manufacturing yields, our ability to deliver product in a timely manner, our ability to secure meaningful wafer capacity from our suppliers, our ability to successfully manage production at multiple foundries, currency fluctuations and their respective impact to customer purchasing power, variability in wafer pricing, and other risk factors listed in our most recent Form 10K.
Xilinx, Inc. is the worldwide leader of programmable logic solutions. Additional information about Xilinx is available at http://www.xilinx.com.
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