Xilinx Reports Third Consecutive Quarter of Record Sales; Operating Margin Reaches 35%

SAN JOSE, Calif., July 21 — (PRNewswire) — Xilinx, Inc. (Nasdaq: XLNX) today announced first quarter fiscal 2011 sales of $594.7 million, up 12% sequentially and up 58% from the first quarter of the prior fiscal year.  First quarter fiscal 2011 net income was $158.6 million, or $0.58 per diluted share.

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The Xilinx Board of Directors announced a quarterly cash dividend of $0.16 per outstanding share of common stock, payable on September 1, 2010 to all stockholders of record at the close of business on August 11, 2010.

Additional first quarter comparisons are represented in the charts below:

GAAP Results

(In millions, except EPS)







Growth Rates


Q1
FY 2011

Q4
FY 2010

Q1
FY 2010


Q-T-Q

Y-T-Y

Net revenues

$594.7

$529.0

$376.2


12%

58%

Operating income

$208.0

$156.1

$57.4


33%

263%

Net income

$158.6

$148.5

$38.0


7%

317%

Diluted earnings per share

$0.58

$0.54

$0.14


7%

314%




The June quarter marked the third consecutive quarter of record sales for Xilinx. New Product sales were led by strong growth from the Virtex-6 and Virtex-5 FPGA families.  These product families are experiencing success in a wide variety of applications including Long Term Evolution (LTE) wireless networks, next generation broadcast video-on-demand systems, high performance computer systems and high resolution imaging systems.  

"It was an exceptional quarter on a number of fronts," said Moshe Gavrielov, Xilinx President and Chief Executive Officer.  "In addition to record sales, operating income increased 33% sequentially to $208 million, a new milestone for Xilinx.   Operating margin of 35% in the June quarter is up from 30% in the prior quarter and up from 15% in the same quarter a year ago.  Our improved profitability is a result of robust sales in addition to continued fiscal discipline."  Gavrielov continued, "I believe Xilinx is embarking upon an extraordinary new product cycle enabled by the strong design win momentum from our Virtex-6 and Spartan-6 families as well as the recent announcement of our 7 series FPGAs."

Net Revenues by Geography:


Percentages


Growth Rates


Q1
FY 2011

Q4
FY 2010

Q1
FY 2010


Q-T-Q

Y-T-Y

North America

32%

33%

35%


12%

48%

Asia Pacific

34%

35%

37%


11%

46%

Europe

26%

24%

20%


19%

103%

Japan

8%

8%

8%


1%

42%




Net Revenues by End Market:


Percentages


Growth Rates


Q1
FY 2011

Q4
FY 2010

Q1
FY 2010


Q-T-Q

Y-T-Y

Communications

47%

47%

49%


12%

53%

Industrial & Other

32%

30%

31%


21%

64%

Consumer & Automotive

15%

15%

14%


8%

67%

Data Processing

6%

8%

6%


-12%

54%




Net Revenues by Product:


Percentages


Growth Rates


Q1
FY 2011

Q4
FY 2010

Q1
FY 2010


Q-T-Q

Y-T-Y

New

39%

36%

25%


23%

148%

Mainstream

30%

31%

36%


9%

33%

Base

27%

28%

34%


4%

22%

Support

4%

5%

5%


3%

33%





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