Xilinx Announces Q2 Fiscal 2012 Results

(PRNewswire) — Xilinx, Inc. (Nasdaq: XLNX) today announced second quarter fiscal 2012 sales of $555.2 million, down 10% sequentially from the prior quarter and down 10% from the same quarter of the prior year.  Second quarter net income was $126.3 million, or $0.47 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 November 30, 2011 to all stockholders of record at the close of business on November 9, 2011.

Additional second quarter comparisons are represented in the charts below:

GAAP Results

(In millions, except EPS)

Growth Rates


Q2

FY 2012

Q1

FY 2012

Q2

FY 2011



Q-T-Q


Y-T-Y








Net revenues

$555.2

$615.5

$619.7


-10%

-10%

Operating income

$154.8

$188.3

$222.7


-18%

-30%

Net income

$126.3

$154.4

$170.9


-18%

-26%

Diluted earnings per share

$0.47

$0.56

$0.65


-16%

-28%




"Sales growth during the September quarter was impacted by weaker than expected business conditions particularly in the Communications and Industrial and Other categories.  In spite of declining sales, operating margin for the quarter was 28% as a result of higher-than-expected gross margin and a commensurate slow down of spending in recognition of the environment," said Moshe Gavrielov, Xilinx President and Chief Executive Officer.  "Additionally, we continued to demonstrate leadership on the 28-nm node by recently taping out our sixth device, achieving to date over 200 design wins, and shipping parts to 50 discrete customers."


Net Revenues by Geography:


Percentages


Growth Rates


Q2

FY 2012

Q1

FY 2012

Q2

FY 2011



Q-T-Q


Y-T-Y

North America

29%

30%

30%


-11%

-14%

Asia Pacific

31%

35%

35%


-21%

-21%

Europe

29%

26%

26%


1%

1%

Japan

11%

9%

9%


5%

11%





Net Revenues by End Market:


Percentages


Growth Rates


Q2

FY 2012

Q1

FY 2012

Q2

FY 2011



Q-T-Q


Y-T-Y

Communications

44%

45%

48%


-12%

-18%

Industrial & Other

33%

34%

31%


-10%

-4%

Consumer & Automotive

16%

14%

15%


2%

-5%

Data Processing

7%

7%

6%


-17%

0%





Net Revenues by Product:


Percentages


Growth Rates


Q2

FY 2012

Q1

FY 2012

Q2

FY 2011



Q-T-Q


Y-T-Y

New

54%

51%

44%


-5%

9%

Mainstream

22%

23%

27%


-15%

-28%

Base

20%

21%

25%


-14%

-27%

Support

4%

5%

4%


-14%

-2%




Products are classified as follows:


New Products: Virtex®-7, Kintex™-7, 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



Key Statistics:

(Dollars in millions)



Q2

FY 2012

Q1

FY 2012

Q2

FY 2011





Annual Return on Equity (%)*

23

25

32





Operating Cash Flow

$200

$238

$42





Depreciation Expense

$13

$14

$13





Capital Expenditures

$18

$14

$15





Combined Inventory Days

126

117

89

Revenue Turns (%)

51

57

48


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




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