Xilinx Announces Record Fiscal 2011 Results; Q4 Sales Increase 4% Sequentially

(PRNewswire) — Xilinx, Inc. (Nasdaq: XLNX) today announced record fiscal 2011 sales of $2.37 billion, up 29% from the prior fiscal year.  Fiscal 2011 net income increased 80% to of $641.9 million, or $2.39 per diluted share, versus fiscal 2010 net income of $357.5 million or $1.29 per diluted share.  

 

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

Fourth quarter fiscal 2011 sales were $587.9 million, up 4% sequentially and up 11% from the fourth quarter of the prior fiscal year.  Fourth quarter fiscal 2011 net income was $160.1 million, or $0.59 per diluted share.  

Additional fourth quarter comparisons are represented in the charts below:

GAAP Results

(In millions, except EPS)

 

Growth Rates

 

Q4

FY 2011

Q3

FY 2011

Q4

FY 2010



Q-T-Q


Y-T-Y

 

Net revenues

$587.9

$567.2

$529.0


4%

11%

 

Operating income

$181.2

$183.5

$156.1


-1%

16%

 

Net income

$160.1

$152.3

$148.5


5%

8%

 

Diluted earnings per share

$0.59

$0.58

$0.54


2%

9%

 

 
             


"I am very pleased with our fiscal 2011 results.  Record sales and continued fiscal discipline contributed to significant improvements in our profitability.  Gross and operating margins were a record 65.4% and 33.6%, respectively, in fiscal 2011.  This is up from 63.4% and 23.6%, respectively, in the prior fiscal year," said Moshe Gavrielov, Xilinx President and Chief Executive Officer.  "In fiscal 2012, we will continue to demonstrate clear 28-nm technology leadership with our game changing product strategy. Xilinx was the first PLD company to tape out 28-nm product, the first to deliver 28-nm silicon to customers, and the first and only company to demonstrate working 28-nm silicon at the recent NAB Conference and Globalpress Electronics Summit.  We have already taped out three 28-nm FPGAs thus far and we continue to expect the product rollout at this technology node to be the fastest in our history."

Net Revenues by Geography:

 

Percentages

Growth Rates

 

Q4

FY 2011

Q3

FY 2011

Q4

FY 2010



Q-T-Q


Y-T-Y

 

North America

27%

30%

33%


-8%

-8%

 

Asia Pacific

35%

38%

35%


-5%

12%

 

Europe

30%

22%

24%


40%

35%

 

Japan

8%

10%

8%


-7%

10%

 

 
             


Net Revenues by End Market:

 

Percentages

Growth Rates

 

Q4

FY 2011

Q3

FY 2011

Q4

FY 2010



Q-T-Q


Y-T-Y

 

Communications

47%

45%

47%


8%

10%

 

Industrial & Other

32%

34%

30%


-1%

18%

 

Consumer & Automotive

14%

15%

15%


-1%

8%

 

Data Processing

7%

6%

8%


12%

-2%

 

 
             


Net Revenues by Product:

 

Percentages

Growth Rates

 

Q4

FY 2011

Q3

FY 2011

Q4

FY 2010



Q-T-Q


Y-T-Y

 

New

46%

43%

36%


10%

42%

 

Mainstream

26%

27%

31%


1%

-6%

 

Base

23%

25%

28%


-5%

-10%

 

Support

5%

5%

5%


4%

13%

 

 
             


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

 
 


Key Statistics:

(Dollars in millions)

 

Q4

FY 2011

Q3

FY 2011

Q4

FY 2010

 




 

Annual Return on Equity (%)*

28

30

18

 




 

Operating Cash Flow

$245

$333

$104

 




 

Depreciation Expense

$13

$13

$12

 




 

Capital Expenditures

$17

$15

$11

 




 

Combined Inventory Days

133

130

79

 




 

Revenue Turns (%)

53

44

56

 

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


 
       



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