Xilinx Reports Third Quarter Fiscal Year 2021 Results

  • Reve짯nues of $803 mil짯li짯on excee짯ded the high end of gui짯dance, repre짯sen짯ting 5% sequen짯ti짯al and 11% year over year growth
  • Wired and Wire짯less Group (WWG) reve짯nue increased 14% sequen짯ti짯al짯ly due to strength in the Wire짯less mar짯kets as 5G deploy짯ments ram짯ped in mul짯ti짯ple regions
  • Auto짯mo짯ti짯ve, Broad짯cast & Con짯su짯mer (ABC) reve짯nue increased 27% sequen짯ti짯al짯ly, dri짯ven by record quar짯ters in the Auto짯mo짯ti짯ve and Broad짯cast end markets
  • Aero짯space & Defen짯se, Indus짯tri짯al and Test, Mea짯su짯re짯ment & Emu짯la짯ti짯on (AIT) reve짯nue increased 7% sequen짯ti짯al짯ly, dri짯ven by strong per짯for짯mance in the Test, Mea짯su짯re짯ment and Emu짯la짯ti짯on market
  • Data Cen짯ter Group (DCG) reve짯nue decli짯ned 45% sequen짯ti짯al짯ly, in line with expec짯ta짯ti짯ons, com짯pared to a record second quar짯ter which bene짯fi짯ted from trade-rela짯ted order acceleration
  • Free cash flow of $354 mil짯li짯on, repre짯sen짯ting 44% of revenue
  • Retur짯ned $93 mil짯li짯on to stock짯hol짯ders through dividends

SAN JOSE, Calif.(BUSINESS WIRE)밲ilinx, Inc. (Nasdaq: XLNX), the lea짯der in adap짯ti짯ve com짯pu짯ting, today announ짯ced reve짯nues of $803 mil짯li짯on for the third quar짯ter of fis짯cal year 2021.

GAAP net inco짯me for the quar짯ter was $171 mil짯li짯on, or $0.69 per diluted share. Non-GAAP net inco짯me was $194 mil짯li짯on, or $0.78 per diluted share.

Addi짯tio짯nal third quar짯ter of fis짯cal year 2021 com짯pa짯ri짯sons are pro짯vi짯ded in the charts below.

Q3 Fis짯cal 2021 Finan짯cial Highlights

(In mil짯li짯ons, except EPS)

 

GAAP

 

 

 

 

 

 

 

 

 

 

 

Q3

 

Q2

 

Q3

 

 

 

 

 

FY2021

 

FY2021

 

FY2020

 

Q멦-Q

 

Y멦-Y

Net reve짯nues*

$803

 

$767

 

$723

 

5%

 

11%

Gross mar짯gin

$547

 

$542

 

$483

 

1%

 

13%

Ope짯ra짯ting income

$172

 

$205

 

$159

 

-16%

 

8%

Net inco짯me

$171

 

$194

 

$162

 

-12%

 

6%

Diluted ear짯nings per share

$0.69

 

$0.79

 

$0.64

 

-13%

 

8%

 

 

 

 

 

 

 

 

 

 

 

Non-GAAP

 

 

 

 

 

 

 

 

 

 

 

Q3

 

Q2

 

Q3

 

 

 

 

 

FY2021

 

FY2021

 

FY2020

 

Q멦-Q

 

Y멦-Y

Net reve짯nues*

$803

 

$767

 

$723

 

5%

 

11%

Gross mar짯gin

$554

 

$548

 

$492

 

1%

 

13%

Ope짯ra짯ting income

$201

 

$216

 

$174

 

-7%

 

16%

Net inco짯me

$194

 

$203

 

$171

 

-5%

 

14%

Diluted ear짯nings per share

$0.78

 

$0.82

 

$0.68

 

-5%

 

15%

 

 

 

* No adjus짯t짯ment bet짯ween GAAP and Non-GAAP

Third quar짯ter reve짯nues excee짯ded the high end of our gui짯dance, deli짯ve짯ring both sequen짯ti짯al and annu짯al growth, demons짯t짯ra짯ting streng짯thening busi짯ness con짯di짯ti짯ons and solid exe짯cu짯ti짯on, said Vic짯tor Peng, Xilinx pre짯si짯dent and CEO. 쏰ur Wired and Wire짯less Group per짯for짯med bet짯ter than expec짯ted as 5G deploy짯ments ram짯ped more meaningful짯ly in North Ame짯ri짯ca. We achie짯ved a record quar짯ter in Auto짯mo짯ti짯ve, Broad짯cast and Con짯su짯mer end mar짯kets, dri짯ven by the ongo짯ing eco짯no짯mic reco짯very, as demand for auto짯mo짯bi짯les streng짯the짯ned and live media events retur짯ned. In addi짯ti짯on, as expec짯ted, our first 7nm Ver짯sal ACAP has gone into pro짯duc짯tion with a lea짯ding wire짯less OEM. We are exci짯ted to see the Ver짯sal pro짯duct port짯fo짯lio begin to con짯tri짯bu짯te to Xilinx셲 long-term growth.

Our invest짯ments con짯ti짯nue to deli짯ver strong returns, with our Advan짯ced Pro짯ducts gro짯wing 8% sequen짯ti짯al짯ly and repre짯sen짯ting 72% of total reve짯nue, said Bri짯ce Hill, Xilinx CFO. 쏻e con짯ti짯nue to dri짯ve our trans짯for짯ma짯ti짯on to a plat짯form com짯pa짯ny as demons짯tra짯ted by our Zynq plat짯form pro짯duct reve짯nue gro짯wing 24% sequen짯ti짯al짯ly, making up 27% of total reve짯nue during the quar짯ter. Our effi짯ci짯ent finan짯cial model gene짯ra짯ted signi짯fi짯cant free cash flow of $354 mil짯li짯on, or 44% of Q3 revenue.

Net Reve짯nues by Geography:

 

 

 

 

 

   

 

 

 

 

Per짯cen짯ta짯ges

   

Growth Rates

 

Q3

 

Q2

 

Q3

   

 

 

 

 

FY2021

 

FY2021

 

FY2020

   

Q멦-Q

 

Y멦-Y

North Ame짯ri짯ca

30%

 

29%

 

28%

   

6%

 

16%

Asia Paci짯fic

44%

 

48%

 

48%

   

-3%

 

4%

Euro짯pe

19%

 

18%

 

16%

   

12%

 

28%

Japan

7%

 

5%

 

8%

   

44%

 

2%

 

 

 

 

 

 

   

 

 

 

Net Reve짯nues by End Market:

 

 

 

 

 

   

 

 

 

 

Per짯cen짯ta짯ges

   

Growth Rates

 

Q3

 

Q2

 

Q3

   

 

 

 

 

FY2021

 

FY2021

 

FY2020

   

Q멦-Q

 

Y멦-Y

A&D, Indus짯tri짯al and TME

45%

 

44%

 

40%

   

7%

 

25%

Auto짯mo짯ti짯ve, Broad짯cast and Consumer

19%

 

16%

 

19%

   

27%

 

14%

Wired and Wire짯less Group

29%

 

26%

 

31%

   

14%

 

2%

Data Cen짯ter Group

7%

 

14%

 

9%

   

-45%

 

-15%

Chan짯nel

0%

 

0%

 

1%

   

NM

 

NM

 

 

 

 

 

 

   

 

 

 

Net Reve짯nues by Product:

 

 

 

 

 

   

 

 

 

 

Per짯cen짯ta짯ges

   

Growth Rates

 

Q3

 

Q2

 

Q3

   

 

 

 

 

FY2021

 

FY2021

 

FY2020

   

Q멦-Q

 

Y멦-Y

Advan짯ced Products

72%

 

70%

 

70%

   

8%

 

15%

Core Pro짯ducts

28%

 

30%

 

30%

   

-3%

 

1%

Pro짯ducts are clas짯si짯fied as follows:

Advan짯ced Pro짯ducts: Alveo and rela짯ted pro짯ducts, UltraS짯ca짯le+, UltraS짯ca짯le and 7몊eries products.

Core Pro짯ducts: Virtex6, Spartan6, Virtex-5, CoolRunner-II, Virtex4, Vir짯tex-II, Spartan3, Spartan2, XC9500 pro짯ducts, con짯fi짯gu짯ra짯ti짯on solu짯ti짯ons, soft짯ware & support/services.

Key Sta짯tis짯tics:

(Dol짯lars in Millions)

 

 

Q3

 

Q2

 

Q3

 

FY2021

 

FY2021

 

FY2020

 

 

 

 

 

 

Ope짯ra짯ting Cash Flow

$360

 

$248

 

$324

Depre짯cia짯ti짯on Expen짯se (inclu짯ding soft짯ware amortization)

$31

 

$30

 

$26

Capi짯tal Expen짯dit짯ures (inclu짯ding software)

$6

 

$15

 

$34

Free Cash Flow (1)

$354

 

$232

 

$289

Inven짯to짯ry Days (inter짯nal)

115

 

114

 

124

Reve짯nue Turns (%)

34

 

38

 

39

(1) Free Cash Flow = Ope짯ra짯ting Cash Flow Capi짯tal Expen짯dit짯ures (inclu짯ding software)

Pro짯duct and Finan짯cial High짯lights Fis짯cal Third Quar짯ter 2021

  • Advan짯ced Pro짯ducts repre짯sen짯ted 72% of total reve짯nue, an 8% increase quar짯ter over quar짯ter and a 15% increase year over year. Zynq plat짯form reve짯nue grew 24% sequen짯ti짯al짯ly and 29% year over year, repre짯sen짯ting 27% of the total reve짯nue. The sequen짯ti짯al strength was dri짯ven by impro짯ve짯ment in the Auto짯mo짯ti짯ve and Broad짯cast end mar짯kets and the ramp of 5G in the Wire짯less end market.
  • Xilinx ship짯ped its first pro짯duc짯tion 7nm Ver짯sal ACAP parts to a lea짯ding wire짯less OEM, enab짯ling the advan짯ced signal pro짯ces짯sing per짯for짯mance and adap짯ta짯bi짯li짯ty nee짯ded to deli짯ver the next-gene짯ra짯ti짯on 5G tech짯no짯lo짯gies like beam짯forming. Xilinx con짯ti짯nues to make pro짯gress on broa짯de짯ning the Ver짯sal port짯fo짯lio with addi짯tio짯nal Ver짯sal pro짯ducts in late-stage development.
  • Xilinx intro짯du짯ced Zynq RFSoC DFE, which com짯bi짯nes har짯den짯ed digi짯tal front-end (DFE) blocks and adap짯ta짯ble logic to build high-per짯for짯mance, low-power, and cost-effec짯ti짯ve 5G NR radio solu짯ti짯ons for a broad array of use cases, ran짯ging across low, mid and high-band spectrum.
  • Xilinx announ짯ced a col짯la짯bo짯ra짯ti짯on with Texas Instru짯ments to deve짯lop sca짯lable and adap짯ta짯ble DFE solu짯ti짯ons to increase ener짯gy effi짯ci짯en짯cy of lower anten짯na count radios.
  • Xilinx and Sam짯sung announ짯ced the avai짯la짯bi짯li짯ty of the Sam짯sung SmartS짯SD Com짯pu짯ta짯tio짯nal Sto짯rage Dri짯ve (CSD). Powered by Xilinx셲 FPGAs, the SmartS짯SD CSD pro짯vi짯des the per짯for짯mance, cus짯to짯miza짯ti짯on, and sca짯la짯bi짯li짯ty requi짯red by data-inten짯si짯ve applications.
  • Xilinx announ짯ced the acqui짯si짯ti짯on of Fal짯con Com짯pu짯ting Solu짯ti짯ons, Inc., a lea짯ding pro짯vi짯der of high-level syn짯the짯sis com짯pi짯ler opti짯miza짯ti짯on tech짯no짯lo짯gy for hard짯ware acce짯le짯ra짯ti짯on of soft짯ware applications.

Com짯men짯ta짯ry on AMD Transaction

As announ짯ced on Octo짯ber 27, 2020, Advan짯ced Micro Devices, Inc. (AMD) intends to acqui짯re Xilinx in an all-stock tran짯sac짯tion valued at $35 bil짯li짯on. The com짯bi짯na짯ti짯on enhan짯ces AMD셲 lea짯der짯ship posi짯ti짯on in high per짯for짯mance com짯pu짯ting, signi짯fi짯cant짯ly expan짯ding the breadth of AMD셲 pro짯duct port짯fo짯lio and cus짯to짯mer set across diver짯se growth mar짯kets whe짯re Xilinx is an estab짯lished lea짯der. Due to the pen짯ding acqui짯si짯ti짯on, Xilinx will not hold an ear짯nings con짯fe짯rence call or pro짯vi짯de for짯ward-loo짯king gui짯dance. Also, pur짯su짯ant to the terms of the Mer짯ger Agree짯ment bet짯ween the Com짯pa짯ny and AMD, Xilinx will sus짯pend decla짯ra짯ti짯on and dis짯tri짯bu짯ti짯on of its quar짯ter짯ly divi짯dend as well as its open mar짯ket stock repurcha짯se program.

Non-GAAP Finan짯cial Information

Fis짯cal third quar짯ter 2021 results include finan짯cial mea짯su짯res which are not deter짯mi짯ned in accordance with the United Sta짯tes gene짯ral짯ly accept짯ed accoun짯ting prin짯ci짯ples (GAAP), as indi짯ca짯ted. Non-GAAP mea짯su짯res should not be con짯side짯red as a sub짯sti짯tu짯te for, or supe짯ri짯or to, finan짯cial mea짯su짯res deter짯mi짯ned in accordance with GAAP. The pre짯sen짯ta짯ti짯on of non-GAAP finan짯cial mea짯su짯res has been recon짯ci짯led, in each case, to the most direct짯ly com짯pa짯ra짯ble GAAP mea짯su짯re, as indi짯ca짯ted in the accom짯pany짯ing tables. Xilinx셲 (the Com짯pa짯ny) cal짯cu짯la짯ti짯on of such non-GAAP mea짯su짯res may not be com짯pa짯ra짯ble to simi짯lar짯ly-titled mea짯su짯res used by other companies.

Manage짯ment uses the non-GAAP finan짯cial mea짯su짯res dis짯c짯lo짯sed her짯ein, other than free cash flow, to eva짯lua짯te the Company셲 finan짯cial results from con짯ti짯nuing ope짯ra짯ti짯ons (exclu짯ding the impact of acqui짯si짯ti짯ons) and compa짯re to ope짯ra짯ting per짯for짯mance in past peri짯ods. Simi짯lar짯ly, Manage짯ment belie짯ves pre짯sen짯ta짯ti짯on of the짯se non-GAAP mea짯su짯res is useful to inves짯tors becau짯se it enables inves짯tors and ana짯lysts to eva짯lua짯te ope짯ra짯ting expen짯ses of the Company셲 core busi짯ness, exclu짯ding the impact of non-core busi짯ness expen짯ses, such as acqui짯si짯ti짯on-rela짯ted amor짯tiza짯ti짯on and non-recur짯ring items, as descri짯bed below:

M&A rela짯ted expen짯ses: The짯se expen짯ses main짯ly con짯sist of legal, advi짯so짯ry and con짯sul짯ting fees asso짯cia짯ted with acqui짯si짯ti짯on acti짯vi짯ties, and also include fees and reten짯ti짯on com짯pen짯sa짯ti짯on rela짯ted to the Company셲 acqui짯si짯ti짯on by AMD. The Com짯pa짯ny belie짯ves the짯se cos짯ts do not reflect its cur짯rent ope짯ra짯ting performance.

Amor짯tiza짯ti짯on of acqui짯si짯ti짯on-rela짯ted intan짯gi짯bles: Amor짯tiza짯ti짯on of acqui짯si짯ti짯on-rela짯ted intan짯gi짯ble assets con짯sists of amor짯tiza짯ti짯on of intan짯gi짯ble assets such as deve짯lo짯ped tech짯no짯lo짯gy acqui짯red in con짯nec짯tion with busi짯ness com짯bi짯na짯ti짯ons. The non-GAAP adjus짯t짯ments exclude the짯se char짯ges to faci짯li짯ta짯te an eva짯lua짯ti짯on of the Company셲 cur짯rent ope짯ra짯ting per짯for짯mance and com짯pa짯ri짯sons to its past ope짯ra짯ting performance.

Inco짯me taxes: The Com짯pa짯ny excludes the inco짯me tax effects of non-GAAP adjus짯t짯ments reflec짯ted in ope짯ra짯ting expen짯ses and other inco짯me, as detail짯ed abo짯ve. It also excludes other signi짯fi짯cant tax effects of post-acqui짯si짯ti짯on tax inte짯gra짯ti짯on tran짯sac짯tions. The Com짯pa짯ny belie짯ves exclu짯ding post-acqui짯si짯ti짯on tax inte짯gra짯ti짯on items will faci짯li짯ta짯te a com짯pa짯ra짯ble eva짯lua짯ti짯on of its cur짯rent per짯for짯mance to its past performance.

In addi짯ti짯on, free cash flow, which is cash flow from ope짯ra짯ti짯ons adjus짯ted to exclude addi짯ti짯ons to soft짯ware, pro짯per짯ty, plant, and equip짯ment, is used by manage짯ment when asses짯sing the Company셲 sources of liqui짯di짯ty, capi짯tal resour짯ces, and qua짯li짯ty of ear짯nings. The Com짯pa짯ny belie짯ves that this non-GAAP finan짯cial mea짯su짯re is hel짯pful in under짯stan짯ding the Company셲 capi짯tal requi짯re짯ments and pro짯vi짯des an addi짯tio짯nal means to eva짯lua짯te the cash flow trends of the Company셲 business.

For짯ward-Loo짯king Statements

This release con짯ta짯ins for짯ward-loo짯king state짯ments, which can often be iden짯ti짯fied by the use of for짯ward-loo짯king words such as 쐃xpect, 쐀elie짯ve, 쐌ay, 쐗ill, 쐁ould, 쏿nti짯ci짯pa짯te, 쐃sti짯ma짯te, 쐁on짯ti짯nue, 쐏lan, 쐇ntend, 쐏ro짯ject or other simi짯lar expres짯si짯ons. State짯ments that refer to or are based on uncer짯tain events or assump짯ti짯ons also iden짯ti짯fy for짯ward-loo짯king state짯ments. Such for짯ward-loo짯king state짯ments include, but are not limi짯t짯ed to, state짯ments rela짯ted to our pro짯po짯sed acqui짯si짯ti짯on by AMD, the semi짯con짯duc짯tor mar짯ket, the growth and accep짯tance of our pro짯ducts, expec짯ted reve짯nue growth, the demand and growth in the mar짯kets we ser짯ve, and oppor짯tu짯ni짯ty for expan짯si짯on into new mar짯kets. Undue reli짯ance should not be pla짯ced on such for짯ward-loo짯king state짯ments, which speak only as of the date they are made. We under짯ta짯ke no obli짯ga짯ti짯on to update such for짯ward-loo짯king state짯ments. Actu짯al events and results may dif짯fer mate짯ri짯al짯ly from tho짯se in the for짯ward-loo짯king state짯ments and are sub짯ject to risks and uncer짯tain짯ties, inclu짯ding, among others, the impact of the ongo짯ing COVID-19 pan짯de짯mic and rela짯ted miti짯ga짯ti짯on mea짯su짯res (which, in addi짯ti짯on to pre짯sen짯ting its own risks and uncer짯tain짯ties, may also heigh짯ten the other risks and uncer짯tain짯ties faced by our busi짯ness and decrease our visi짯bi짯li짯ty into all aspects of our busi짯ness); clo짯sing of the pro짯po짯sed tran짯sac짯tion with AMD on anti짯ci짯pa짯ted timing (inclu짯ding the risk that the con짯di짯ti짯ons to the tran짯sac짯tion are not satis짯fied on a time짯ly basis or at all or the fail짯ure of the tran짯sac짯tion to clo짯se for any other reason) and terms (inclu짯ding obtai짯ning the anti짯ci짯pa짯ted tax tre짯at짯ment, regu짯la짯to짯ry appr짯ovals, requi짯red cons짯ents or aut짯ho짯riza짯ti짯ons); unan짯ti짯ci짯pa짯ted dif짯fi짯cul짯ties or expen짯dit짯ures rela짯ting to the tran짯sac짯tion; the respon짯se of busi짯ness part짯ners and reten짯ti짯on as a result of the announce짯ment and pen짯den짯cy of the tran짯sac짯tion; the diver짯si짯on of manage짯ment time on tran짯sac짯tion-rela짯ted mat짯ters; cus짯to짯mer accep짯tance of our new pro짯ducts; chan짯ging glo짯bal eco짯no짯mic con짯di짯ti짯ons; our depen짯dence on cer짯tain cus짯to짯mers; trade and export rest짯ric짯tions; the con짯di짯ti짯on and per짯for짯mance of our cus짯to짯mers and the end mar짯kets in which they par짯ti짯ci짯pa짯te; our abili짯ty to fore짯cast end cus짯to짯mer demand; a high depen짯dence on turns busi짯ness; more cus짯to짯mer volu짯me dis짯counts than expec짯ted; grea짯ter pro짯duct mix chan짯ges than anti짯ci짯pa짯ted; fluc짯tua짯tions in manu짯fac짯tu짯ring yields; our abili짯ty to deli짯ver pro짯duct in a time짯ly man짯ner; our abili짯ty to suc짯cessful짯ly mana짯ge pro짯duc짯tion at mul짯ti짯ple found짯ries; our reli짯ance on third par짯ties (inclu짯ding dis짯tri짯bu짯tors); varia짯bi짯li짯ty in wafer pri짯cing; cos짯ts and lia짯bi짯li짯ties asso짯cia짯ted with cur짯rent and future liti짯ga짯ti짯on (inclu짯ding liti짯ga짯ti짯on rela짯ting to the pro짯po짯sed tran짯sac짯tion with AMD); our abili짯ty to gene짯ra짯te cost and ope짯ra짯ting expen짯se savings in an effi짯ci짯ent and time짯ly man짯ner; our abili짯ty to rea짯li짯ze the goals con짯tem짯pla짯ted by our acqui짯si짯ti짯ons and stra짯te짯gic invest짯ments; the impact of cur짯rent and future legis짯la짯ti짯ve and regu짯la짯to짯ry chan짯ges; the impact of new accoun짯ting pro짯no짯unce짯ments and tax laws, inclu짯ding the U.S. Tax Cuts and Jobs Act, and inter짯pre짯ta짯ti짯ons the짯reof; and other risk fac짯tors descri짯bed in our most recent Forms 10멡 and 10멚 and sub짯se짯quent filings with the U.S. Secu짯ri짯ties and Exch짯an짯ge Commission.

About Xilinx

Xilinx, Inc. deve짯lo짯ps high짯ly fle짯xi짯ble and adap짯ti짯ve com짯pu짯ting plat짯forms that enable rapid inno짯va짯ti짯on across a varie짯ty of tech짯no짯lo짯gies from the cloud, to the edge, to the end짯point. Xilinx is the inven짯tor of the FPGA and Adap짯ti짯ve SoCs (inclu짯ding our Adap짯ti짯ve Com짯pu짯te Acce짯le짯ra짯ti짯on Plat짯form, or ACAP), desi짯gned to deli짯ver the most dyna짯mic com짯pu짯ting tech짯no짯lo짯gy in the indus짯try. We col짯la짯bo짯ra짯te with our cus짯to짯mers to crea짯te sca짯lable, dif짯fe짯ren짯tia짯ted and intel짯li짯gent solu짯ti짯ons that enable the adap짯ta짯ble, intel짯li짯gent and con짯nec짯ted world of the future. For more infor짯ma짯ti짯on, visit xilinx.com.

Xilinx, the Xilinx logo, Alveo, Artix, Kin짯tex, Spar짯tan, Ver짯sal, Vitis, Vir짯tex, Viv짯a짯do, Zynq, and other desi짯gna짯ted brands included her짯ein are trade짯marks of Xilinx in the United Sta짯tes and/or other count짯ries. All other trade짯marks are the pro짯per짯ty of their respec짯ti짯ve owners.

XLNX

XILINX, INC.
CONSOLIDATED STATEMENTS OF INCOME
(Unau짯di짯ted)
(In thou짯sands, except per share amounts)
   

Three Months Ended

 

Nine Months Ended

 
   

Janu짯ary 2, 2021

 

Sep짯tem짯ber 26, 2020

 

Decem짯ber 28, 2019

 

Janu짯ary 2, 2021

 

Decem짯ber 28, 2019

 
Net reve짯nues  

$

803,404

 

$

766,535

 

 

$

723,499

 

$

2,296,612

 

 

$

2,406,497

 
Cost of revenues:                      
Cost of pro짯ducts sold  

 

249,529

 

 

218,120

 

 

 

233,324

 

 

693,753

 

 

 

804,197

 
Amor짯tiza짯ti짯on of acqui짯si짯ti짯on-rela짯ted intangibles  

 

6,875

 

 

6,696

 

 

 

6,697

 

 

20,268

 

 

 

15,699

 
Total cost of revenues  

 

256,404

 

 

224,816

 

 

 

240,021

 

 

714,021

 

 

 

819,896

 
Gross mar짯gin  

 

547,000

 

 

541,719

 

 

 

483,478

 

 

1,582,591

 

 

 

1,586,601

 
Ope짯ra짯ting expenses:                      
Rese짯arch and development  

 

235,018

 

 

219,647

 

 

 

211,541

 

 

664,776

 

 

 

638,621

 
Sel짯ling, gene짯ral and administrative  

 

136,701

 

 

113,793

 

 

 

109,612

 

 

355,877

 

 

 

328,633

 
Amor짯tiza짯ti짯on of acqui짯si짯ti짯on-rela짯ted intangibles  

 

2,856

 

 

2,862

 

 

 

2,919

 

 

8,581

 

 

 

5,488

 
Total ope짯ra짯ting expenses  

 

374,575

 

 

336,302

 

 

 

324,072

 

 

1,029,234

 

 

 

972,742

 
Ope짯ra짯ting income  

 

172,425

 

 

205,417

 

 

 

159,406

 

 

553,357

 

 

 

613,859

 
Inte짯rest and other inco짯me (expen짯se), net  

 

3,709

 

 

(10,771

)

 

 

6,437

 

 

(19,215

)

 

 

30,378

 
Inco짯me befo짯re inco짯me taxes  

 

176,134

 

 

194,646

 

 

 

165,843

 

 

534,142

 

 

 

644,237

 
Pro짯vi짯si짯on for inco짯me taxes  

 

5,162

 

 

830

 

 

 

3,831

 

 

75,517

 

 

 

13,774

 
Net inco짯me  

$

170,972

 

$

193,816

 

 

$

162,012

 

$

458,625

 

 

$

630,463

 
Net inco짯me per com짯mon share:                      
Basic  

$

0.70

 

$

0.79

 

 

$

0.65

 

$

1.88

 

 

$

2.50

 
Diluted  

$

0.69

 

$

0.79

 

 

$

0.64

 

$

1.86

 

 

$

2.47

 
Cash divi짯dends per com짯mon share  

$

0.38

 

$

0.38

 

 

$

0.37

 

$

1.14

 

 

$

1.11

 
Shares used in per share calculations:                      
Basic  

 

245,145

 

 

244,837

 

 

 

250,546

 

 

243,976

 

 

 

252,330

 
Diluted  

 

248,148

 

 

246,763

 

 

 

252,808

 

 

246,786

 

 

 

255,758

 

 

XILINX, INC.      
CONDENSED CONSOLIDATED BALANCE SHEETS      
(In thou짯sands)      
  Janu짯ary 2, 2021   March 28, 2020*
  (unau짯di짯ted)    
ASSETS      
Cur짯rent assets:      
Cash, cash equi짯va짯lents and short-term investments

$

3,324,425

 

$

2,267,216

Accounts receiva짯ble, net

 

269,605

 

 

273,028

Invent짯ories

 

300,107

 

 

304,340

Other cur짯rent assets

 

73,112

 

 

64,557

Total cur짯rent assets

 

3,967,249

 

 

2,909,141

Net pro짯per짯ty, plant and equipment

 

351,513

 

 

372,574

Other assets

 

1,430,203

 

 

1,411,619

Total Assets

$

5,748,965

 

$

4,693,334

       
       
LIABILITIES AND STOCKHOLDERS EQUITY      
Cur짯rent liabilities:      
Accounts paya짯ble and accrued liabilities

$

614,227

 

$

586,421

Cur짯rent por짯ti짯on of long-term debt

 

499,865

 

 

499,260

Total cur짯rent liabilities

 

1,114,092

 

 

1,085,681

Long-term debt

 

1,492,377

 

 

747,110

Other long-term liabilities

 

543,605

 

 

545,494

Stock짯hol짯ders equity

 

2,598,891

 

 

2,315,049

Total Lia짯bi짯li짯ties and Stock짯hol짯ders Equity

$

5,748,965

 

$

4,693,334

       
* Fis짯cal 2020 balan짯ces are deri짯ved from audi짯ted finan짯cial statements.
XILINX, INC.  
SUPPLEMENTAL FINANCIAL INFORMATION  
(Unau짯di짯ted)
(In thou짯sands)
 

Three Months Ended

 

Nine Months Ended

 
 

Janu짯ary 2, 2021

 

Sep짯tem짯ber 26, 2020

 

Decem짯ber 28, 2019

 

Janu짯ary 2, 2021

 

Decem짯ber 28, 2019

 
SELECTED CASH FLOW INFORMATION:                    
Depre짯cia짯ti짯on and amor짯tiza짯ti짯on of software

$

30,818

 

$

30,249

 

$

26,331

 

$

92,816

 

$

68,882

 
Amor짯tiza짯ti짯on others

 

17,133

 

 

15,316

 

 

15,276

 

 

47,508

 

 

37,326

 
Stock-based com짯pen짯sa짯ti짯on

 

66,331

 

 

58,439

 

 

50,157

 

 

175,153

 

 

142,732

 
Net cash pro짯vi짯ded by ope짯ra짯ting activities

 

360,137

 

 

247,583

 

 

323,575

 

 

853,191

 

 

845,485

 
Purcha짯ses of pro짯per짯ty, plant and equip짯ment and software

 

6,009

 

 

15,331

 

 

34,138

 

 

36,801

 

 

96,980

 
Pay짯ment of divi짯dends to stockholders

 

93,155

 

 

93,105

 

 

92,931

 

 

278,674

 

 

280,376

 
Repurcha짯ses of com짯mon stock

 

-

 

 

-

 

 

260,939

 

 

53,682

 

 

738,184

 
Taxes paid rela짯ted to net share sett짯le짯ment of rest짯ric짯ted stock units, net of pro짯ceeds from issu짯an짯ce of com짯mon stock

 

4,560

 

 

30,072

 

 

3,565

 

 

37,871

 

 

55,541

 
                     
                     
STOCK-BASED COMPENSATION INCLUDED IN:                    
Cost of revenues

$

3,465

 

$

2,963

 

$

2,961

 

$

9,149

 

$

8,386

 
Rese짯arch and development

 

40,228

 

 

36,110

 

 

31,543

 

 

106,707

 

 

86,119

 
Sel짯ling, gene짯ral and administrative

 

22,638

 

 

19,366

 

 

15,653

 

 

59,297

 

 

48,227

 
XILINX, INC.
RECONCILIATIONS OF GAAP ACTUALS TO NON-GAAP ACTUALS
(Unau짯di짯ted)
(In thou짯sands, except per share amounts)
  Three Months Ended Nine Months Ended
 

Janu짯ary 2, 2021

Sep짯tem짯ber 26, 2020 Decem짯ber 28, 2019 Janu짯ary 2, 2021 Decem짯ber 28, 2019
GAAP gross margin

$

547,000

 

$

541,719

 

$

483,478

 

$

1,582,591

 

$

1,586,601

 

Inven짯to짯ry valua짯ti짯on adjustment

 

-

 

 

-

 

 

2,114

 

 

-

 

 

3,856

 

Amor짯tiza짯ti짯on of acqui짯si짯ti짯on-rela짯ted intangibles

 

6,875

 

 

6,696

 

 

6,697

 

 

20,268

 

 

15,699

 

M&A rela짯ted expenses

 

114

 

 

-

 

 

-

 

 

114

 

 

-

 

Non-GAAP gross margin

$

553,989

 

$

548,415

 

$

492,289

 

$

1,602,973

 

$

1,606,156

 

           
GAAP ope짯ra짯ting income

$

172,425

 

$

205,417

 

$

159,406

 

$

553,357

 

$

613,859

 

Inven짯to짯ry valua짯ti짯on adjustment

 

-

 

 

-

 

 

2,114

 

 

-

 

 

3,856

 

Amor짯tiza짯ti짯on of acqui짯si짯ti짯on-rela짯ted intangibles

 

9,731

 

 

9,558

 

 

9,616

 

 

28,849

 

 

21,187

 

M&A rela짯ted expenses

 

19,150

 

 

1,506

 

 

3,042

 

 

22,219

 

 

12,393

 

Non-GAAP ope짯ra짯ting income

$

201,306

 

$

216,481

 

$

174,178

 

$

604,425

 

$

651,295

 

           
GAAP net income

$

170,972

 

$

193,816

 

$

162,012

 

$

458,625

 

$

630,463

 

Inven짯to짯ry valua짯ti짯on adjustment

 

-

 

 

-

 

 

2,114

 

 

-

 

 

3,856

 

Amor짯tiza짯ti짯on of acqui짯si짯ti짯on-rela짯ted intangibles

 

9,731

 

 

9,558

 

 

9,616

 

 

28,849

 

 

21,187

 

M&A rela짯ted expenses

 

19,150

 

 

1,506

 

 

3,042

 

 

22,219

 

 

12,393

 

Inco짯me tax effect of tax-rela짯ted items

 

(528

)

 

-

 

 

(3,697

)

 

56,273

 

 

(1,838

)

Inco짯me tax effect of non-GAAP adjustments

 

(5,100

)

 

(1,470

)

 

(2,316

)

 

(8,160

)

 

(6,133

)

Non-GAAP net income

$

194,225

 

$

203,410

 

$

170,771

 

$

557,806

 

$

659,928

 

           
GAAP diluted EPS

$

0.69

 

$

0.79

 

$

0.64

 

$

1.86

 

$

2.47

 

Inven짯to짯ry valua짯ti짯on adjustment

 

-

 

 

-

 

 

0.01

 

 

-

 

 

0.01

 

Amor짯tiza짯ti짯on of acqui짯si짯ti짯on-rela짯ted intangibles

 

0.04

 

 

0.03

 

 

0.04

 

 

0.12

 

 

0.08

 

M&A rela짯ted expenses

 

0.07

 

 

0.01

 

 

0.01

 

 

0.08

 

 

0.05

 

Inco짯me tax effect of tax-rela짯ted items

 

-

 

 

-

 

 

(0.01

)

 

0.23

 

 

(0.01

)

Inco짯me tax effect of non-GAAP adjustments

 

(0.02

)

 

(0.01

)

 

(0.01

)

 

(0.03

)

 

(0.02

)

Non-GAAP diluted EPS

$

0.78

 

$

0.82

 

$

0.68

 

$

2.26

 

$

2.58

 

           
GAAP cash flow from operations

$

360,137

 

$

247,583

 

$

323,575

 

$

853,191

 

$

845,485

 

Capi짯tal expen짯dit짯ures (inclu짯ding software)

 

(6,009

)

 

(15,331

)

 

(34,138

)

 

(36,801

)

 

(96,980

)

Free cash flow

$

354,128

 

$

232,252

 

$

289,437

 

$

816,390

 

$

748,505

 

           

Source: Xilinx Newsroom

Cate짯go짯ry: Cor짯po짯ra짯te Announcements

Contacts

Inves짯tor Rela짯ti짯ons Contact:
Suresh Bhaskaran
Xilinx, Inc.
(408) 8794784
ir@xilinx.com