Xilinx Announces Q1 Fiscal 2016 Results; 20nm Sales Exceed $10 Million

SAN JOSE, Calif., July 22, 2015 /PRNewswire/ -- Xilinx, Inc. (Nasdaq: XLNX) today announced first quarter fiscal 2016 sales of $549 million, down 3% from the prior quarter and down 10% from the same quarter of the prior fiscal year. First quarter fiscal 2016 gross margin was 71% and net income was $148 million, or $0.55 per diluted share.

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The Xilinx Board of Directors announced a quarterly cash dividend of $0.31 per outstanding share of common stock, payable on August 26, 2015 to all stockholders of record at the close of business on August 6, 2015.

Additional first quarter comparisons are represented in the charts below:  

"The quarter was marked by strong profitability with Xilinx delivering a 71% gross margin," said Moshe Gavrielov, Xilinx President and Chief Executive Officer.  "From a product perspective, technology leadership on the 20nm node is translating to sales leadership.  During the quarter, sales from Xilinx's newest 20nm Ultrascale™ product family surpassed $10 million with particular strength coming from Virtex® Ultrascale, the industry's only 20nm, high-end FPGA family.  In addition, sales from the Company's 28nm Zynq®-7000 platform were exceptionally strong during the quarter with primary strength from ADAS applications."

Highlights – June Quarter Fiscal 2016

• Xilinx taped out the industry's first All Programmable Multi-Processor SoC (MPSoC) using TSMC's 16FF+ process. This product family targets applications in embedded vision, including ADAS, Industrial Internet of Things, and 5G wireless systems. The All Programmable Zynq UltraScale+™ MPSoC enables the development of flexible, standards-based platforms by providing 5X system level performance/watt and any-to-any connectivity with the security and safety required for next generation systems.
• Xilinx announced that it has collaborated with TSMC on the 7nm process and 3D IC technology for its next generation of All Programmable FPGAs, MPSoCs, and 3D ICs. The technology represents the fourth consecutive generation where the two companies have worked together on advanced process and CoWoS 3D stacking technology, and will become TSMC's fourth generation of FinFET technology. The collaboration will provide Xilinx a multi-node scaling advantage and build on its outstanding product, execution, and market success at 28nm, 20nm, and 16nm nodes.
• Xilinx, Inc. announced the public access release of the SDSoC™ development environment to expand the user base of Zynq® SoCs and MPSoCs to a broad community of systems and software engineers. The SDSoC development environment, a member of the SDx™ family, includes expanded library, board, and design services ecosystem support, enabling embedded C/C++ application development. This public access release also features enhancements to the integrated design environment (IDE) for ease of programming and platform development.
• Xilinx continued to demonstrate a strong commitment to returning value to stockholders. In the June quarter, the Company repurchased $100 million of stock and paid $80 million in dividends, representing nearly 100% of operating cash flow generated during the quarter.

Business Outlook – September Quarter Fiscal 2016

• Sales are expected to be down 2% to 6% sequentially.
• Gross margin is expected to be 69% to 70%.
• Operating expenses are expected to be approximately $217 million including $2 million of amortization of acquisition-related intangibles.
• Other income and expenses are expected to be a net expense of approximately $10 million.
• Fully diluted share count is expected to be approximately 268 million.
• September quarter tax rate is expected to be approximately 12%.

Conference Call

A conference call will be held today at 2:00 p.m. Pacific Time to discuss the June 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 (855) 859-2056 and referencing confirmation code 65209454. 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 September quarter of fiscal 2016.  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 protected]

SOURCE Xilinx, Inc.

Related Links

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