Controversy successes lead to higher revenue in US and UK
May 04, 2010
Two companies that took on the tax authorities in the US and UK over transfer pricing issues, and achieved positive results, have now reported higher than expected earnings.
In the US, semiconductor company Xilinx announced fourth quarter fiscal 2010 sales of $529 million, up 3% sequentially and up 34% from the fourth quarter of the previous fiscal year. Fourth quarter fiscal 2010 net income was $148.5 million, or $0.54 per diluted share, including previously announced pre-tax restructuring charges totalling $2.8 million, or $0.01 per diluted share.
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