conference date: January 17, 2008 @ 2:00 PM Pacific Time
for quarter ending: December 31, 2007 (fiscal Q3 2008)
The following info is from the press release. I missed the conference.
Overview: Pretty good quarter, with net income growing faster than revenues.
Revenues were $474.8 million, up 7% sequentially from $444.9 million and up 5% from $450.7 million in the year-earlier quarter.
Net income was $103.6 million, up 15% sequentially from $89.7 million and up 18% from $87.5 million year-earlier.
EPS (earnings per share) were $0.35, up 17% sequentially from $0.30 and up 35% from $0.26 year earlier.
Revenue in March quarter 2008 are expected to be sequentially down 1% to up 3%. Gross margin 63%. Operating expenses flat.
Cash divident of $0.12 per share declared.
Stronger than expected revenues came from defense and consumer applications sectors. North American sales were particularly strong (up 14% sequentially) but Asia Pacific sales decreased.
Operating margin was over 24% as "we fired on all cyllinders this quarter."
Newer products generated 35% of revenues, compared to 30% in prior quarter. Virtex-5, Virtex-4 and Spartan-3 lines led growth.
Moshe Gavrielov was appointed president and CEO.
Inventories decreased slightly.
By end market, revenues were: communications 41%, industrial 33%, consumer & automotive 17%, data processing 9%.
Cost of revenues was $174.4 million, leaving gross margin of $300.4 million. R&D expense was $91.0 million, selling general and administrative $92.5 million, total operating expense $185.0 million, leaving operating income of $115.3 million. Interest income $14.4 million. Provision for income taxes $26.1 million.
Cash and equivalents ended at $1.3 billion.
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