SAN JOSE, Calif., Jan. 21, 2015 — (PRNewswire) —  Xilinx, Inc. (Nasdaq: XLNX) today announced third quarter fiscal 2015 sales of $594 million, down 2% from the prior quarter and up 1% from the same quarter of the prior fiscal year.  Third quarter fiscal 2015 net income was $168 million or $0.62 per share, including a $0.02 per diluted share benefit primarily related to the reinstatement of the R&D tax credit. 

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The Xilinx Board of Directors announced a quarterly cash dividend of $0.29 per outstanding share of common stock, payable on February 25, 2015 to all stockholders of record at the close of business on February 4, 2015.

Additional third quarter comparisons are represented in the charts below:  

 

"Solid profitability during the quarter was tempered by disappointing sales from broadcast and communications end markets," said Moshe Gavrielov, Xilinx President and Chief Executive Officer.  "However, I am pleased with the renewed growth of our 28nm product family, which increased nearly 20% sequentially.   I expect this product family to continue to post healthy growth in 2015 driven by a broad base of applications." 

                                                          

                                                                                                       

                                                                                                                          

 

 

 

 

Highlights – December Quarter Fiscal 2015

• Xilinx 28nm products exceeded $150 million in sales for the quarter, up nearly 20% sequentially and up over 50% from the same quarter a year ago.  Sales from all product family members increased sequentially and were driven by a broad base of applications. 
• Xilinx recently introduced its Kintex UltraScale devices, which are the industry's first 20nm FPGAs to move into volume production.  Customers can benefit from an estimated one-year time to market advantage relative to its competition. At 20nm, Xilinx also announced that it is now shipping the industry's largest FPGA, which delivers over 4X the capacity of competitive devices and extends its high-end leadership.
• Xilinx announced the SDAccel™ development environment for OpenCL™, C, and C++, enabling up to 25X better performance/watt for data center application acceleration leveraging FPGAs. SDAccel, the newest member of the SDx™ family, combines the industry's first architecturally optimizing compiler supporting any combination of OpenCL, C, and C++ kernels, along with libraries, development boards, and the first complete CPU/GPU-like development and run-time experience for FPGAs.
• In November, Xilinx Board of Directors granted an authorization for the Company to repurchase up to $800 million of its common stock. Since fiscal 2010, the Company has repurchased over 50 million shares for approximately $1.8 billion.  

Business Outlook – March Quarter Fiscal 2015

• Sales are expected to be down 2% to down 6% sequentially.
• Gross margin is expected to be approximately 68% to 69%.
• Operating expenses are expected to be approximately $227 million including $2.5 million of amortization of acquisition-related intangibles.
• Other income and expenses are expected to be a net expense of approximately $7 million.
• Fully diluted share count is expected to be approximately 270 million.
• March quarter tax rate is expected to be approximately 13%.

Conference Call

A conference call will be held today at 2:00 p.m. Pacific Time to discuss the December quarter financial results and management's outlook for the March quarter. The webcast and subsequent replay will be available in the investor relations section of the Company's web site at www.investor.xilinx.com.  A telephonic replay of the call may be accessed later in the day by calling (855) 859-2056 and referencing confirmation code 50649087. The telephonic replay will be available for two weeks following the live call. 

This release contains forward-looking statements and projections. Forward-looking statements and projections can often be identified by the use of forward-looking words such as "expect," "believe,"  "may," "will," "could," "anticipate," "estimate," "continue," "plan," "intend," "project" or other similar expressions.  Statements that refer to or are based on projections, uncertain events or assumptions also identify forward-looking statements.  Such forward looking statements include, but are not limited to, statements related to the semiconductor market, the growth and acceptance of our products, expected revenue growth, the demand and growth in the markets we serve, opportunity for expansion into new markets, and our expectations regarding our business outlook for the March quarter of fiscal 2015.  Undue reliance should not be placed on such forward-looking statements and projections, which speak only as of the date they are made. We undertake no obligation to update such forward-looking statements.  Actual events and results may differ materially from those in the forward-looking statements and are subject to risks and uncertainties including customer acceptance of our new products, current global economic conditions, the health of our customers and the end markets in which they participate, our ability to forecast end customer demand, a high dependence on turns business, more customer volume discounts than expected, greater product mix changes than anticipated, fluctuations in manufacturing yields, our ability to deliver product in a timely manner, our ability to successfully manage production at multiple foundries, variability in wafer pricing, costs and liabilities associated with current and future litigation, and other risk factors listed in our most recent Forms 10-Q and 10-K.

About Xilinx

Xilinx develops All Programmable technologies and devices, beyond hardware to software, digital to analog, and single to multiple die in 3D ICs.  These industry leading devices are coupled with a next-generation design environment and IP to serve a broad range of customer needs, from programmable logic to programmable systems integration.  For more information, visit www.xilinx.com.

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Xilinx, the Xilinx logo, Artix, ISE, Kintex, Spartan, Virtex, Zynq, Vivado, and other designated brands included herein are trademarks of Xilinx in the United States and other countries. All other trademarks are the property of their respective owners.

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Investor Relations Contact:       
Lori Owen
Xilinx, Inc.
(408) 879-6911
Email Contact

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