Pre-tax profits plunge at Xilinx

DUBLIN-based technology firm Xilinx saw pre-tax profits plunge by more than a third last year from $212 million (€148m) to $130m but still paid a dividend of $101m.

During the year, the group undertook a review and reorganisation of its worldwide operations.

In April last, the firm announced 120 job cuts at its plant at Citywest.

According to accounts just filed, the company, as part of this programme undertook a reorganisation of its research and development facilities.

Its former managing director in Ireland, Paul McCambridge, got $347,896 for compensation for loss of office on his retirement from the board and company in January 2009.

The accounts, for the year to the end of March 2009, show that the dividend followed a dividend payout of $200m in 2008.

Revenues in the 2009 financial year fell to $515m from $583m in 2008.

The company said the 11.6% decline in revenues was “largely due to the recessionary environment experienced during the year which impacted sales across a broad base of end markets. New product revenue increased considerably in 2009 but not enough to fully offset the declines in other product categories.”

R&D expenditure fell by 41.9% to $53.5m in 2009.

Profit on ordinary activities before taxation in 2009 was 25.3% of revenues compared to 36.4% in the previous year. “The decrease in this percentage is attributable to the impact of the reorganisation and streamlining activities undertaken during the year,” the accounts read.

The company employed 351 people at the end of March compared with 362 in the previous year. Staff costs were $43.9m.