Xilinx Announces First Quarter Fiscal 2009 Results; Sales Increase 3% Sequentially

-- Sales from products manufactured using 90nm and 65nm process technologies reached record levels in the June quarter exceeding 40% of total sales, up from 26% in the same quarter a year ago. Xilinx's successful introduction of the Virtex-5 family in May 2006 has enabled the Company to achieve significant 65nm sales leadership over PLD competitors. Xilinx estimates that it currently supplies approximately 90% of the PLD industry's 65nm sales. Virtex-5 devices continue to generate strong design win momentum across a broad range of end markets.

-- Industrial and Other sales reached record levels in the June quarter driven by growth from the defense, industrial, scientific and medical applications. Xilinx FPGAs are ideally suited for many of the applications in this space due to their high DSP performance, embedded processing functionality and integration capabilities. Sales from Industrial and Other applications represented 33% of total sales in the June quarter, up from 22% three years ago.


    Key Statistics:
                                            Q1          Q4            Q1
                                         FY 2009      FY 2008      FY 2008

    Annual Return on Equity (%)*            20           22           18

    Operating Cash Flow ($M)               158          102          126

    Depreciation Expense ($M)               15           14           12
    Capital Expenditures ($M)               10            6           16

    Combined Inventory Days                 93           92          101

    Revenue Turns (%)                       59           60           57

    *Return on equity calculation: Annualized net income/average stockholders'
     equity


    Business Outlook -- September Quarter Fiscal 2009

    -- Revenues are expected to be between up 1% to down 3% sequentially.
    -- Gross margin is expected to be in the range of 63% to 64%.
    -- Operating expenses are expected to be approximately $180 million
       including $1 million to $2 million of previously announced
       restructuring charges.
    -- Other income including interest expense is expected to be approximately
       $5 million.
    -- Tax rate is expected to be approximately 22%.
    -- Fully diluted share count is expected to be approximately 277 million
       shares.

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 Form 10-K.

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.

    #0866F

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



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

                                                    Three Months Ended
                                             June 28,   March 29,    June 30,
                                              2008        2008        2007
    Net revenues                            $488,246    $475,760    $445,912
    Cost of revenues                         176,506     173,974     168,478
    Gross margin                             311,740     301,786     277,434
    Operating expenses:
       Research and development               90,734      90,888      87,870
       Selling, general and
        administrative                        93,004      92,469      90,199
       Amortization of acquisition-
        related intangibles                        1,425              1,426              1,897
              Restructuring  charges                                    19,536                  -                      -
                    Total  operating  expenses                      204,699          184,783          179,966

        Operating  income                                                  107,041          117,003            97,468
        Impairment  loss  on  investments                        (4,621)          (2,850)                -
        Interest  and  other,  net                                        5,705              5,328            13,533

        Income  before  income  taxes                              108,125          119,481          111,001
        Provision  for  income  taxes                                24,196            23,002            26,723
        Net  income                                                              $83,929          $96,479          $84,278

        Net  income  per  common  share:
            Basic                                                                        $0.30              $0.34              $0.28
            Diluted                                                                    $0.30              $0.34              $0.28

        Cash  dividends  declared  per  common
          share                                                                          $0.14              $0.12              $0.12

        Shares  used  in  per  share  calculations:
            Basic                                                                    278,165          284,523          297,720
            Diluted                                                                280,881          286,321          303,198



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

                                                                                                      June  28,                    March  29,
                                                                                                        2008                              2008
                                                                                                  (Unaudited)                      (1)
        ASSETS
        Current  assets:
            Cash,  cash  equivalents  and  short-
              term  investments                                                  $1,238,713                $1,296,435
            Accounts  receivable,  net                                          205,480                      249,147
            Inventories                                                                    140,372                      130,250
            Deferred  tax  assets  and  other
              current  assets                                                            147,933                      144,364
        Total  current  assets                                                  1,732,498                  1,820,196
        Net  property,  plant  and  equipment                            398,882                      404,430
        Long-term  investments                                                    607,253                      564,269
        Other  assets                                                                      352,422                      348,212
        Total  Assets                                                                $3,091,055                $3,137,107

        LIABILITIES  AND  STOCKHOLDERS'  EQUITY
        Current  liabilities:
            Accounts  payable  and  accrued
              liabilities                                                                $237,681                    $228,988
            Deferred  income  on  shipments  to
              distributors                                                                  99,789                      111,678
        Total  current  liabilities                                            337,470                      340,666
        Convertible  debentures                                                  999,552                      999,851
        Deferred  tax  liabilities                                              100,548                        84,486
        Other  long-term  liabilities                                          43,894                        40,281
        Stockholders'  equity                                                  1,609,591                  1,671,823
        Total  Liabilities  and  Stockholders'
          Equity                                                                          $3,091,055                $3,137,107

            (1)  Derived  from  audited  financial  statements



        XILINX,  INC.
        SUPPLEMENTAL  FINANCIAL  INFORMATION
        (Unaudited)
        (In  thousands)
                                                                                                          Three  Months  Ended
                                                                                            June  28,      March  29,        June  30,
                                                                                                2008              2008                  2007

        SELECTED  CASH  FLOW  INFORMATION:
            Depreciation                                                      $15,420          $13,876          $12,446
            Amortization                                                          4,226              4,219              4,605
            Stock-based  compensation                                14,164            17,697            16,521
            Net  cash  provided  by  operating
              activities                                                        158,497          101,841          126,324
            Purchases  of  property,  plant  and
              equipment                                                            (9,873)          (6,238)        (15,599)
            Payment  of  dividends  to
              stockholders                                                    (38,928)        (34,093)        (35,718)
            Repurchases  of  common  stock                      (150,000)      (200,000)          -
            Proceeds  from  issuance  of  common
              stock  to  employees  and  excess  tax
              benefit                                                                31,531            57,700            48,046

        STOCK-BASED  COMPENSATION  INCLUDED  IN:
              Cost  of  revenues                                              $1,582            $1,820            $2,171
              Research  and  development                                6,354              8,908              7,301
              Selling,  general  and  administrative          6,228              6,970              7,048
 

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



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