Profits decrease by 43% at Irish arm of US technology giant

Pretax profits at the Irish arm of US technology giant, Xilinx last year decreased by 43 per cent to $16.5 million (€12.1m), new figures show.

According to accounts filed by Xilinx Ireland, the Dublin-based firm recorded the drop in profits after revenues decreased by three per cent from $646.3 million to $624.1 million in the 12 months to the end of March 31st last year.

The directors’ report states that “after significant growth last year turnover was broadly stable in the 2012 financial year at $624 million decreasing only slightly in the year. The decrease in turnover was mainly due to a small decline in sales of Mainstream, Base and Support products primarily in the communications end market”.

Xilinx established its Dublin base for its European, Middle East and African markets in 1995. The revenues generated by Xilinx Ireland accounted for 28 per cent of the company’s global revenues of $2.24 billion in fiscal 2012.

The Dublin unit has paid out over $2 billion in dividends to its US parent between 1999 and 2011 and in fiscal 2012 paid out an additional $50 million in dividends.