Xilinx Announces Fourth Quarter and Fiscal Year End Results

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", "may," "will," "could," "believe," "anticipate," "estimate," "continue," "plan," "intend," "project" or other similar words. 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 the general health of global economies as well as of the semiconductor industry, the health of our end markets and our customers' customers, our ability to forecast end customer demand, customer acceptance of our new products, the ability of our customers to manage their inventories, 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, and other risk factors listed in our most recent Forms 10-K and 10-Q.

About Xilinx

Xilinx, Inc. (NASDAQ: XLNX) is the worldwide leader of programmable logic solutions. Additional information about Xilinx is available at http://www.xilinx.com.

Xilinx, the Xilinx Logo, Virtex, Spartan, ISE and other brands designated herein are trademarks of Xilinx in the United States and other countries. All other trademarks are the property of their respective owners.

    #0848F

     Investor Relations Contact:
     Lori Owen
     Xilinx, Inc.
     (408) 879-6911
     ir@xilinx.com



    XILINX, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (In thousands, except per share amounts)

                               Three Months Ended             Year Ended
                          Mar. 29,  Mar. 31,  Dec. 29,    Mar. 29,   Mar. 31,
                           2008       2007      2007        2008       2007
                       (Unaudited)(Unaudited)(Unaudited)  (Unaudited)    (1)

    Net revenues         $475,760  $443,472  $474,806   $1,841,372 $1,842,739
    Cost of revenues      173,974   168,041   174,414      686,988    718,643
    Gross margin          301,786   275,431   300,392    1,154,384  1,124,096
    Operating expenses:
      Research and
       development         90,888    98,476    91,011      358,063    388,101
      Selling, general
       and administrative  92,469    95,657    92,453      365,325    375,510
      Amortization of
       acquisition-
       related
       intangibles          1,426     1,940     1,582        6,802      8,009
      Litigation
       settlements and
       contingencies            -         -         -            -      2,500
      Stock-based
       compensation
       related to prior
       years                    -         -         -            -      2,209
        Total operating
         expenses         184,783   196,073   185,046      730,190    776,329

    Operating income      117,003    79,358   115,346      424,194    347,767
    Impairment loss on
     investments           (2,850)        -         -       (2,850)    (1,950)
    Interest and other,
     net                    5,328    21,916    14,385       52,750     85,329
    Income before income
     taxes                119,481   101,274   129,731      474,094    431,146
    Provision for income
     taxes                 23,002    13,648    26,139      100,047     80,474
    Net income            $96,479   $87,626  $103,592     $374,047   $350,672

    Net income per
     common share:
      Basic                 $0.34     $0.27     $0.36        $1.27      $1.04
      Diluted               $0.34     $0.27     $0.35        $1.25      $1.02

    Cash dividends
     declared per common
     share                  $0.12     $0.09     $0.12        $0.48      $0.36

    Shares used in per
     share calculations:
      Basic               284,523   325,115   289,703      295,050    337,920
      Diluted             286,321   330,243   293,036      298,636    343,636

     (1) Derived from audited financial statements



    XILINX, INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (In thousands)

                                                               March  29,                  March  31,
                                                                                                        2008                            2007
                                                                                                  (Unaudited)                      (1)

        ASSETS
        Current  assets:
            Cash,  cash  equivalents  and
              short-term  investments                                      $1,296,435                $1,137,915
            Accounts  receivable,  net                                          249,147                      182,295
            Inventories                                                                    130,250                      174,572
            Deferred  tax  assets  and  other
              current  assets                                                            144,364                      205,320
        Total  current  assets                                                  1,820,196                  1,700,102
        Net  property,  plant  and  equipment                            404,430                      413,036
        Long-term  investments                                                    564,269                      675,713
        Investment  in  United  Microelectronics
          Corporation                                                                              -                            67,050
        Other  assets                                                                      348,212                      323,454
        Total  Assets                                                                $3,137,107                $3,179,355

        LIABILITIES  AND  STOCKHOLDERS'  EQUITY
        Current  liabilities:
            Accounts  payable  and  accrued
              liabilities                                                                $228,988                    $214,317
            Deferred  income  on  shipments  to
              distributors                                                                111,678                        89,052
        Total  current  liabilities                                            340,666                      303,369
        Convertible  debentures                                                  999,851                      999,597
        Deferred  tax  liabilities                                                84,486                      102,329
        Other  long-term  liabilities                                          40,281                          1,320
        Stockholders'  equity                                                  1,671,823                  1,772,740
        Total  Liabilities  and  Stockholders'
          Equity                                                                          $3,137,107                $3,179,355

            (1)  Derived  from  audited  financial  statements



        XILINX,  INC.
        SUPPLEMENTAL  FINANCIAL  INFORMATION
        (In  thousands)

                                                                Three  Months  Ended                        Year  Ended
                                                    Mar.  29,        Mar.  31,    Dec.  29,    Mar.  29,        Mar.  31,
                                                        2008                2007            2007            2008                2007
                                                (Unaudited)(Unaudited)(Unaudited)(Unaudited)          (1)

        SELECTED  CASH  FLOW
          INFORMATION:
            Depreciation                $13,876          $17,895      $13,497      $54,199          $55,998
            Amortization                    4,219              4,536          4,328        17,756            17,926
            Stock-based
              compensation                17,697            20,135        16,456        66,427            90,292
            Net  cash  provided
              by  operating
              activities                  101,841          105,633      207,744      580,975          551,568
            Purchases  of
              property,  plant
              and  equipment              (6,238)        (63,183)    (10,737)    (45,593)      (110,777)
            Payment  of
              dividends  to
              stockholders              (34,093)        (29,613)    (34,480)  (139,974)      (120,833)
            Repurchases  of
              common  stock            (200,000)  (1,030,000)  (200,000)  (550,000)  (1,430,000)
            Proceeds  from
              issuance  of
              common  stock  to
              employees  and
              excess  tax
              benefit                          57,700            51,376        11,610      148,094          155,549

        STOCK-BASED
          COMPENSATION
          INCLUDED  IN:
            Cost  of  revenues          $1,820            $1,985        $1,937        $7,605          $10,345
            Research  and
              development                    8,908              9,407          7,977        31,433            41,610
            Selling,  general
              and
              administrative              6,970              8,742          6,542        27,389            38,337

        (1)  Derived  from  audited  financial  statements

 

Web site: http://www.xilinx.com/



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