Xilinx Announces Q1 Fiscal 2012 Results; Sales Increase 5% Sequentially

SAN JOSE, Calif., July 20, 2011 /PRNewswire-FirstCall/ -- Xilinx, Inc. (Nasdaq: XLNX) today announced first quarter fiscal 2012 sales of $615.5 million, up 5% sequentially from the prior quarter and up 3% from the same quarter of the prior year.  First quarter net income was $154.4 million, or $0.56 per diluted share.  

(Logo: http://photos.prnewswire.com/prnh/20020822/XLNXLOGO)

The Xilinx Board of Directors announced a quarterly cash dividend of $0.19 per outstanding share of common stock, payable on August 31, 2011 to all stockholders of record at the close of business on August 10, 2011.

Additional first quarter comparisons are represented in the charts below:

"Sales in the June quarter exceeded our expectations," said Moshe Gavrielov, Xilinx President and Chief Executive Officer.  "New product sales were exceptionally strong increasing 17% sequentially.  Much of this growth came from strong customer demand for our 40-nm Virtex®-6 and Spartan®-6 families as well as our 65-nm Virtex-5 family.   In addition, we continued to demonstrate our 28-nm technology leadership by shipping our second FPGA family, Virtex-7, during the quarter.  With the industry's highest performance, density and bandwidth, Virtex-7 FPGAs achieved design wins in a broad base of applications including wired and wireless communications, broadcast infrastructure, aerospace and defense and high performance computing."  

Products are classified as follows:

New Products: Virtex®-6, Virtex-5, Spartan®-6, Spartan-3A and Spartan-3E product families
Mainstream Products: Virtex-4, Spartan-3, Spartan-II and CoolRunner™-II product families
Base Products: Virtex, Virtex-E, Virtex-II, Spartan, XC4000, CoolRunner and XC9500 product families
Support Products: Configuration products, HardWire, Software & Support/Services

Product Highlights

• Xilinx recently released its ISE® Design Suite 13.2, which provides increased designer productivity and improved Quality of Results for our 28-nm 7 series families including the recently shipped Virtex-7 VS485T device.  In addition, this latest edition of ISE Design Suite provides an increase in performance of up to 25 percent in designs targeting Virtex-7 2000T devices, the industry's largest density FPGAs built using Stacked Silicon Interconnect technology.
• Sales from 40-nm Virtex-6 and Spartan-6 FPGA products were stronger than expected during the quarter representing nearly 10% of total sales.  Strength during the quarter was driven by a broad base of applications including wired and wireless communications, defense, test & measurement, audio video broadcast and high performance computing.

Business Outlook – September Quarter Fiscal 2012

• Sales are expected to be up 1% to down 3% sequentially.
• Gross margin is expected to be approximately 63%.
• Operating expenses are expected to be approximately $218 million, including approximately $2 million of amortization of acquisition-related intangibles and approximately $6 million in restructuring charges.
• Other income and expense is expected to be an expense of approximately $7 million.
• Fully diluted share count is expected to be approximately 278 million.
• September quarter tax rate is expected to be approximately 14%.

Conference Call

A conference call will be held today at 2:00 p.m. Pacific Time to discuss the first quarter financial results and management's outlook for the September 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 (800) 642-1687 and referencing confirmation code 57880006. 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 that include, but are not limited to, statements related to the semiconductor market, the growth and acceptance of our programmable platforms, 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 September quarter for fiscal 2012.  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,  variability in wafer pricing, and other risk factors listed in our most recent Form 10-K.

About Xilinx

Xilinx is the world's leading provider of programmable platforms.   For more information, visit 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. 

#1152F

Investor Relations Contact:
Lori Owen
Xilinx, Inc.
(408) 879-6911
[email protected]

SOURCE Xilinx, Inc.