Xilinx Announces Fiscal 2009 Results

SAN JOSE, Calif., April 22 /PRNewswire-FirstCall/ -- Xilinx, Inc. (NASDAQ: XLNX) today announced fiscal 2009 sales of $1.83 billion, down 1% compared with $1.84 billion in fiscal 2008. Net income increased 0.4% to $375.6 million, or $1.36 per diluted share, in fiscal 2009 versus net income of $374.0 million, or $1.25 per diluted share, in the prior fiscal year.

(Logo: http://www.newscom.com/cgi-bin/prnh/20020822/XLNXLOGO)

Fourth quarter sales were $395.0 million, down 14% sequentially and down 17% from the fourth quarter of the prior fiscal year. Fourth quarter net income was $70.5 million, or $0.26 per diluted share, including a $20.9 million pre-tax gain on the early extinguishment of convertible debentures and a $1.0 million pre-tax impairment charge on investments. Collectively, these income and expense items represented approximately $0.06 per diluted share after tax.

The Xilinx Board of Directors declared a quarterly cash dividend of $0.14 per outstanding share of common stock, payable on June 3, 2009 to all stockholders of record at the close of business on May 13, 2009.

Additional fourth quarter comparisons are represented in the charts below:

    GAAP Results
    (In millions, except EPS)

                                                               Growth Rates
                          Q4 FY 2009  Q3 FY 2009 Q4 FY 2008   Q-T-Q   Y-T-Y
                          ----------  ---------- ----------   -----   -----
    Net revenues             $395.0     $458.4     $475.8     -14%     -17%
    Operating income          $78.3     $119.6     $117.0     -35%     -33%
    Net income                $70.5     $139.4      $96.5     -49%     -27%
    Diluted earnings per
     share                    $0.26      $0.51      $0.34     -49%     -24%

March quarter sales declined 14% sequentially with sales from all geographies and end markets declining as expected. Xilinx operating expenses declined 4% sequentially, which was more than expected as a result of continued expense controls.

"Current economic conditions remain challenging for the semiconductor industry and Xilinx is no exception," said Moshe Gavrielov, Xilinx President and Chief Executive Officer. "However, strong 65-nm design win activity coupled with increased participation in end markets such as next generation wireless communications and defense have enabled Xilinx to outperform the semiconductor industry throughout the recent economic downturn."

    Net Revenues by Geography:
                                Percentages            Growth Rates
                         Q4         Q3         Q4
                      FY 2009    FY 2009    FY 2008    Q-T-Q    Y-T-Y
                      -------    -------    -------    -----    -----
    North America        35%        34%        38%      -11%    -23%
    Asia Pacific         35%        33%        28%      -11%      1%
    Europe               22%        22%        23%      -12%    -21%
    Japan                 8%        11%        11%      -34%    -35%

    Net Revenues by End Market:
                                   Percentages        Growth Rates
                             Q4        Q3       Q4
                          FY 2009   FY 2009  FY 2008  Q-T-Q   Y-T-Y
                          -------   -------  -------  -----   -----
    Communications           47%      44%      42%     -7%     -6%
    Industrial & Other       32%      33%      33%    -18%    -20%
    Consumer &
     Automotive              14%      16%      17%    -27%    -33%
    Data Processing           7%       7%       8%     -5%    -29%

    Net Revenues by Product*:
                              Percentages              Growth Rates
                       Q4          Q3        Q4
                    FY 2009    FY 2009    FY 2008    Q-T-Q      Y-T-Y
                                        -------        -------        -------        -----          -----
        New                              52%                48%                38%              -6%                14%
        Mainstream                33%                36%                42%            -22%              -35%
        Base                            10%                11%                14%            -20%              -43%
        Support                        5%                  5%                  6%            -10%              -27%

        *Products  are  classified  as  follows:

        New  Products:  Virtex(R)-5,  Virtex-4,  Spartan(R)-3,  and  CoolRunner(TM)-II
          products
        Mainstream  Products:  Virtex-II,  Spartan-II,  CoolRunner  and  Virtex-E
          products
        Base  Products:  Virtex,  Spartan,  XC4000  and  XC9500  products
        Support  Products:  Configuration  solutions,  HardWire,  Software  &
          Support/Services
 


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