Xilinx ( XLNX, $89.82) posts weaker-than-expected revenue guidance; plans to retrench 7% of workforce

Xilinx released fourth-quarter sales guidance that was below consensus estimates. 

The supplier of programmable logic devices reported adjusted earnings of 68 cents a share, compared to 92 cents a share a year ago. Revenue fell to $723.5 million from $800.1 million in the year-ago period. Analysts surveyed by FactSet had estimated earnings of 60 cents a share on revenue of $731.3 million. 

For the fiscal fourth quarter, Xilinx expects revenue of $750 million to $780 million. Analysts were expecting $825.1 million.

Xilinx announced plans of  cutting 7% of its global workforce, mainly in selling, general and administrative roles, in  a bid to maintain operating profit amid revenue concerns.

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Sergey Savastiouk|Expert

Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.