Xilinx Reports Third Quarter Fiscal Year 2021 Results

  • Reve­nues of $803 mil­li­on excee­ded the high end of gui­dance, repre­sen­ting 5% sequen­ti­al and 11% year over year growth
  • Wired and Wire­less Group (WWG) reve­nue increased 14% sequen­ti­al­ly due to strength in the Wire­less mar­kets as 5G deploy­ments ram­ped in mul­ti­ple regions
  • Auto­mo­ti­ve, Broad­cast & Con­su­mer (ABC) reve­nue increased 27% sequen­ti­al­ly, dri­ven by record quar­ters in the Auto­mo­ti­ve and Broad­cast end markets
  • Aero­space & Defen­se, Indus­tri­al and Test, Mea­su­re­ment & Emu­la­ti­on (AIT) reve­nue increased 7% sequen­ti­al­ly, dri­ven by strong per­for­mance in the Test, Mea­su­re­ment and Emu­la­ti­on market
  • Data Cen­ter Group (DCG) reve­nue decli­ned 45% sequen­ti­al­ly, in line with expec­ta­ti­ons, com­pared to a record second quar­ter which bene­fi­ted from trade-rela­ted order acceleration
  • Free cash flow of $354 mil­li­on, repre­sen­ting 44% of revenue
  • Retur­ned $93 mil­li­on to stock­hol­ders through dividends

SAN JOSE, Calif.–(BUSINESS WIRE)–Xilinx, Inc. (Nasdaq: XLNX), the lea­der in adap­ti­ve com­pu­ting, today announ­ced reve­nues of $803 mil­li­on for the third quar­ter of fis­cal year 2021.

GAAP net inco­me for the quar­ter was $171 mil­li­on, or $0.69 per diluted share. Non-GAAP net inco­me was $194 mil­li­on, or $0.78 per diluted share.

Addi­tio­nal third quar­ter of fis­cal year 2021 com­pa­ri­sons are pro­vi­ded in the charts below.

Q3 Fis­cal 2021 Finan­cial Highlights

(In mil­li­ons, except EPS)

 

GAAP

 

 

 

 

 

 

 

 

 

 

 

Q3

 

Q2

 

Q3

 

 

 

 

 

FY2021

 

FY2021

 

FY2020

 

Q‑T-Q

 

Y‑T-Y

Net reve­nues*

$803

 

$767

 

$723

 

5%

 

11%

Gross mar­gin

$547

 

$542

 

$483

 

1%

 

13%

Ope­ra­ting income

$172

 

$205

 

$159

 

-16%

 

8%

Net inco­me

$171

 

$194

 

$162

 

-12%

 

6%

Diluted ear­nings per share

$0.69

 

$0.79

 

$0.64

 

-13%

 

8%

 

 

 

 

 

 

 

 

 

 

 

Non-GAAP

 

 

 

 

 

 

 

 

 

 

 

Q3

 

Q2

 

Q3

 

 

 

 

 

FY2021

 

FY2021

 

FY2020

 

Q‑T-Q

 

Y‑T-Y

Net reve­nues*

$803

 

$767

 

$723

 

5%

 

11%

Gross mar­gin

$554

 

$548

 

$492

 

1%

 

13%

Ope­ra­ting income

$201

 

$216

 

$174

 

-7%

 

16%

Net inco­me

$194

 

$203

 

$171

 

-5%

 

14%

Diluted ear­nings per share

$0.78

 

$0.82

 

$0.68

 

-5%

 

15%

 

 

 

* No adjus­t­ment bet­ween GAAP and Non-GAAP

Third quar­ter reve­nues excee­ded the high end of our gui­dance, deli­ve­ring both sequen­ti­al and annu­al growth, demons­t­ra­ting streng­thening busi­ness con­di­ti­ons and solid exe­cu­ti­on,” said Vic­tor Peng, Xilinx pre­si­dent and CEO. “Our Wired and Wire­less Group per­for­med bet­ter than expec­ted as 5G deploy­ments ram­ped more meaningful­ly in North Ame­ri­ca. We achie­ved a record quar­ter in Auto­mo­ti­ve, Broad­cast and Con­su­mer end mar­kets, dri­ven by the ongo­ing eco­no­mic reco­very, as demand for auto­mo­bi­les streng­the­ned and live media events retur­ned. In addi­ti­on, as expec­ted, our first 7nm Ver­sal ACAP has gone into pro­duc­tion with a lea­ding wire­less OEM. We are exci­ted to see the Ver­sal pro­duct port­fo­lio begin to con­tri­bu­te to Xilinx’s long-term growth.”

Our invest­ments con­ti­nue to deli­ver strong returns, with our Advan­ced Pro­ducts gro­wing 8% sequen­ti­al­ly and repre­sen­ting 72% of total reve­nue,” said Bri­ce Hill, Xilinx CFO. “We con­ti­nue to dri­ve our trans­for­ma­ti­on to a plat­form com­pa­ny as demons­tra­ted by our Zynq plat­form pro­duct reve­nue gro­wing 24% sequen­ti­al­ly, making up 27% of total reve­nue during the quar­ter. Our effi­ci­ent finan­cial model gene­ra­ted signi­fi­cant free cash flow of $354 mil­li­on, or 44% of Q3 revenue.”

Net Reve­nues by Geography:

 

 

 

 

 

   

 

 

 

 

Per­cen­ta­ges

   

Growth Rates

 

Q3

 

Q2

 

Q3

   

 

 

 

 

FY2021

 

FY2021

 

FY2020

   

Q‑T-Q

 

Y‑T-Y

North Ame­ri­ca

30%

 

29%

 

28%

   

6%

 

16%

Asia Paci­fic

44%

 

48%

 

48%

   

-3%

 

4%

Euro­pe

19%

 

18%

 

16%

   

12%

 

28%

Japan

7%

 

5%

 

8%

   

44%

 

2%

 

 

 

 

 

 

   

 

 

 

Net Reve­nues by End Market:

 

 

 

 

 

   

 

 

 

 

Per­cen­ta­ges

   

Growth Rates

 

Q3

 

Q2

 

Q3

   

 

 

 

 

FY2021

 

FY2021

 

FY2020

   

Q‑T-Q

 

Y‑T-Y

A&D, Indus­tri­al and TME

45%

 

44%

 

40%

   

7%

 

25%

Auto­mo­ti­ve, Broad­cast and Consumer

19%

 

16%

 

19%

   

27%

 

14%

Wired and Wire­less Group

29%

 

26%

 

31%

   

14%

 

2%

Data Cen­ter Group

7%

 

14%

 

9%

   

-45%

 

-15%

Chan­nel

0%

 

0%

 

1%

   

NM

 

NM

 

 

 

 

 

 

   

 

 

 

Net Reve­nues by Product:

 

 

 

 

 

   

 

 

 

 

Per­cen­ta­ges

   

Growth Rates

 

Q3

 

Q2

 

Q3

   

 

 

 

 

FY2021

 

FY2021

 

FY2020

   

Q‑T-Q

 

Y‑T-Y

Advan­ced Products

72%

 

70%

 

70%

   

8%

 

15%

Core Pro­ducts

28%

 

30%

 

30%

   

-3%

 

1%

Pro­ducts are clas­si­fied as follows:

Advan­ced Pro­ducts: Alveo and rela­ted pro­ducts, UltraS­ca­le+, UltraS­ca­le and 7‑series products.

Core Pro­ducts: Virtex‑6, Spartan‑6, Virtex-5, CoolRunner-II, Virtex‑4, Vir­tex-II, Spartan‑3, Spartan‑2, XC9500 pro­ducts, con­fi­gu­ra­ti­on solu­ti­ons, soft­ware & support/services.

Key Sta­tis­tics:

(Dol­lars in Millions)

 

 

Q3

 

Q2

 

Q3

 

FY2021

 

FY2021

 

FY2020

 

 

 

 

 

 

Ope­ra­ting Cash Flow

$360

 

$248

 

$324

Depre­cia­ti­on Expen­se (inclu­ding soft­ware amortization)

$31

 

$30

 

$26

Capi­tal Expen­dit­ures (inclu­ding software)

$6

 

$15

 

$34

Free Cash Flow (1)

$354

 

$232

 

$289

Inven­to­ry Days (inter­nal)

115

 

114

 

124

Reve­nue Turns (%)

34

 

38

 

39

(1) Free Cash Flow = Ope­ra­ting Cash Flow — Capi­tal Expen­dit­ures (inclu­ding software)

Pro­duct and Finan­cial High­lights — Fis­cal Third Quar­ter 2021

  • Advan­ced Pro­ducts repre­sen­ted 72% of total reve­nue, an 8% increase quar­ter over quar­ter and a 15% increase year over year. Zynq plat­form reve­nue grew 24% sequen­ti­al­ly and 29% year over year, repre­sen­ting 27% of the total reve­nue. The sequen­ti­al strength was dri­ven by impro­ve­ment in the Auto­mo­ti­ve and Broad­cast end mar­kets and the ramp of 5G in the Wire­less end market.
  • Xilinx ship­ped its first pro­duc­tion 7nm Ver­sal ACAP parts to a lea­ding wire­less OEM, enab­ling the advan­ced signal pro­ces­sing per­for­mance and adap­ta­bi­li­ty nee­ded to deli­ver the next-gene­ra­ti­on 5G tech­no­lo­gies like beam­forming. Xilinx con­ti­nues to make pro­gress on broa­de­ning the Ver­sal port­fo­lio with addi­tio­nal Ver­sal pro­ducts in late-stage development.
  • Xilinx intro­du­ced Zynq RFSoC DFE, which com­bi­nes har­den­ed digi­tal front-end (DFE) blocks and adap­ta­ble logic to build high-per­for­mance, low-power, and cost-effec­ti­ve 5G NR radio solu­ti­ons for a broad array of use cases, ran­ging across low, mid and high-band spectrum.
  • Xilinx announ­ced a col­la­bo­ra­ti­on with Texas Instru­ments to deve­lop sca­lable and adap­ta­ble DFE solu­ti­ons to increase ener­gy effi­ci­en­cy of lower anten­na count radios.
  • Xilinx and Sam­sung announ­ced the avai­la­bi­li­ty of the Sam­sung SmartS­SD Com­pu­ta­tio­nal Sto­rage Dri­ve (CSD). Powered by Xilinx’s FPGAs, the SmartS­SD CSD pro­vi­des the per­for­mance, cus­to­miza­ti­on, and sca­la­bi­li­ty requi­red by data-inten­si­ve applications.
  • Xilinx announ­ced the acqui­si­ti­on of Fal­con Com­pu­ting Solu­ti­ons, Inc., a lea­ding pro­vi­der of high-level syn­the­sis com­pi­ler opti­miza­ti­on tech­no­lo­gy for hard­ware acce­le­ra­ti­on of soft­ware applications.

Com­men­ta­ry on AMD Transaction

As announ­ced on Octo­ber 27, 2020, Advan­ced Micro Devices, Inc. (AMD) intends to acqui­re Xilinx in an all-stock tran­sac­tion valued at $35 bil­li­on. The com­bi­na­ti­on enhan­ces AMD’s lea­der­ship posi­ti­on in high per­for­mance com­pu­ting, signi­fi­cant­ly expan­ding the breadth of AMD’s pro­duct port­fo­lio and cus­to­mer set across diver­se growth mar­kets whe­re Xilinx is an estab­lished lea­der. Due to the pen­ding acqui­si­ti­on, Xilinx will not hold an ear­nings con­fe­rence call or pro­vi­de for­ward-loo­king gui­dance. Also, pur­su­ant to the terms of the Mer­ger Agree­ment bet­ween the Com­pa­ny and AMD, Xilinx will sus­pend decla­ra­ti­on and dis­tri­bu­ti­on of its quar­ter­ly divi­dend as well as its open mar­ket stock repurcha­se program.

Non-GAAP Finan­cial Information

Fis­cal third quar­ter 2021 results include finan­cial mea­su­res which are not deter­mi­ned in accordance with the United Sta­tes gene­ral­ly accept­ed accoun­ting prin­ci­ples (GAAP), as indi­ca­ted. Non-GAAP mea­su­res should not be con­side­red as a sub­sti­tu­te for, or supe­ri­or to, finan­cial mea­su­res deter­mi­ned in accordance with GAAP. The pre­sen­ta­ti­on of non-GAAP finan­cial mea­su­res has been recon­ci­led, in each case, to the most direct­ly com­pa­ra­ble GAAP mea­su­re, as indi­ca­ted in the accom­pany­ing tables. Xilinx’s (the Com­pa­ny) cal­cu­la­ti­on of such non-GAAP mea­su­res may not be com­pa­ra­ble to simi­lar­ly-titled mea­su­res used by other companies.

Manage­ment uses the non-GAAP finan­cial mea­su­res dis­c­lo­sed her­ein, other than free cash flow, to eva­lua­te the Company’s finan­cial results from con­ti­nuing ope­ra­ti­ons (exclu­ding the impact of acqui­si­ti­ons) and compa­re to ope­ra­ting per­for­mance in past peri­ods. Simi­lar­ly, Manage­ment belie­ves pre­sen­ta­ti­on of the­se non-GAAP mea­su­res is useful to inves­tors becau­se it enables inves­tors and ana­lysts to eva­lua­te ope­ra­ting expen­ses of the Company’s core busi­ness, exclu­ding the impact of non-core busi­ness expen­ses, such as acqui­si­ti­on-rela­ted amor­tiza­ti­on and non-recur­ring items, as descri­bed below:

M&A rela­ted expen­ses: The­se expen­ses main­ly con­sist of legal, advi­so­ry and con­sul­ting fees asso­cia­ted with acqui­si­ti­on acti­vi­ties, and also include fees and reten­ti­on com­pen­sa­ti­on rela­ted to the Company’s acqui­si­ti­on by AMD. The Com­pa­ny belie­ves the­se cos­ts do not reflect its cur­rent ope­ra­ting performance.

Amor­tiza­ti­on of acqui­si­ti­on-rela­ted intan­gi­bles: Amor­tiza­ti­on of acqui­si­ti­on-rela­ted intan­gi­ble assets con­sists of amor­tiza­ti­on of intan­gi­ble assets such as deve­lo­ped tech­no­lo­gy acqui­red in con­nec­tion with busi­ness com­bi­na­ti­ons. The non-GAAP adjus­t­ments exclude the­se char­ges to faci­li­ta­te an eva­lua­ti­on of the Company’s cur­rent ope­ra­ting per­for­mance and com­pa­ri­sons to its past ope­ra­ting performance.

Inco­me taxes: The Com­pa­ny excludes the inco­me tax effects of non-GAAP adjus­t­ments reflec­ted in ope­ra­ting expen­ses and other inco­me, as detail­ed abo­ve. It also excludes other signi­fi­cant tax effects of post-acqui­si­ti­on tax inte­gra­ti­on tran­sac­tions. The Com­pa­ny belie­ves exclu­ding post-acqui­si­ti­on tax inte­gra­ti­on items will faci­li­ta­te a com­pa­ra­ble eva­lua­ti­on of its cur­rent per­for­mance to its past performance.

In addi­ti­on, free cash flow, which is cash flow from ope­ra­ti­ons adjus­ted to exclude addi­ti­ons to soft­ware, pro­per­ty, plant, and equip­ment, is used by manage­ment when asses­sing the Company’s sources of liqui­di­ty, capi­tal resour­ces, and qua­li­ty of ear­nings. The Com­pa­ny belie­ves that this non-GAAP finan­cial mea­su­re is hel­pful in under­stan­ding the Company’s capi­tal requi­re­ments and pro­vi­des an addi­tio­nal means to eva­lua­te the cash flow trends of the Company’s business.

For­ward-Loo­king Statements

This release con­ta­ins for­ward-loo­king state­ments, which can often be iden­ti­fied by the use of for­ward-loo­king words such as “expect,” “belie­ve,” “may,” “will,” “could,” “anti­ci­pa­te,” “esti­ma­te,” “con­ti­nue,” “plan,” “intend,” “pro­ject” or other simi­lar expres­si­ons. State­ments that refer to or are based on uncer­tain events or assump­ti­ons also iden­ti­fy for­ward-loo­king state­ments. Such for­ward-loo­king state­ments include, but are not limi­t­ed to, state­ments rela­ted to our pro­po­sed acqui­si­ti­on by AMD, the semi­con­duc­tor mar­ket, the growth and accep­tance of our pro­ducts, expec­ted reve­nue growth, the demand and growth in the mar­kets we ser­ve, and oppor­tu­ni­ty for expan­si­on into new mar­kets. Undue reli­ance should not be pla­ced on such for­ward-loo­king state­ments, which speak only as of the date they are made. We under­ta­ke no obli­ga­ti­on to update such for­ward-loo­king state­ments. Actu­al events and results may dif­fer mate­ri­al­ly from tho­se in the for­ward-loo­king state­ments and are sub­ject to risks and uncer­tain­ties, inclu­ding, among others, the impact of the ongo­ing COVID-19 pan­de­mic and rela­ted miti­ga­ti­on mea­su­res (which, in addi­ti­on to pre­sen­ting its own risks and uncer­tain­ties, may also heigh­ten the other risks and uncer­tain­ties faced by our busi­ness and decrease our visi­bi­li­ty into all aspects of our busi­ness); clo­sing of the pro­po­sed tran­sac­tion with AMD on anti­ci­pa­ted timing (inclu­ding the risk that the con­di­ti­ons to the tran­sac­tion are not satis­fied on a time­ly basis or at all or the fail­ure of the tran­sac­tion to clo­se for any other reason) and terms (inclu­ding obtai­ning the anti­ci­pa­ted tax tre­at­ment, regu­la­to­ry appr­ovals, requi­red cons­ents or aut­ho­riza­ti­ons); unan­ti­ci­pa­ted dif­fi­cul­ties or expen­dit­ures rela­ting to the tran­sac­tion; the respon­se of busi­ness part­ners and reten­ti­on as a result of the announce­ment and pen­den­cy of the tran­sac­tion; the diver­si­on of manage­ment time on tran­sac­tion-rela­ted mat­ters; cus­to­mer accep­tance of our new pro­ducts; chan­ging glo­bal eco­no­mic con­di­ti­ons; our depen­dence on cer­tain cus­to­mers; trade and export rest­ric­tions; the con­di­ti­on and per­for­mance of our cus­to­mers and the end mar­kets in which they par­ti­ci­pa­te; our abili­ty to fore­cast end cus­to­mer demand; a high depen­dence on turns busi­ness; more cus­to­mer volu­me dis­counts than expec­ted; grea­ter pro­duct mix chan­ges than anti­ci­pa­ted; fluc­tua­tions in manu­fac­tu­ring yields; our abili­ty to deli­ver pro­duct in a time­ly man­ner; our abili­ty to suc­cessful­ly mana­ge pro­duc­tion at mul­ti­ple found­ries; our reli­ance on third par­ties (inclu­ding dis­tri­bu­tors); varia­bi­li­ty in wafer pri­cing; cos­ts and lia­bi­li­ties asso­cia­ted with cur­rent and future liti­ga­ti­on (inclu­ding liti­ga­ti­on rela­ting to the pro­po­sed tran­sac­tion with AMD); our abili­ty to gene­ra­te cost and ope­ra­ting expen­se savings in an effi­ci­ent and time­ly man­ner; our abili­ty to rea­li­ze the goals con­tem­pla­ted by our acqui­si­ti­ons and stra­te­gic invest­ments; the impact of cur­rent and future legis­la­ti­ve and regu­la­to­ry chan­ges; the impact of new accoun­ting pro­no­unce­ments and tax laws, inclu­ding the U.S. Tax Cuts and Jobs Act, and inter­pre­ta­ti­ons the­reof; and other risk fac­tors descri­bed in our most recent Forms 10‑Q and 10‑K and sub­se­quent filings with the U.S. Secu­ri­ties and Exch­an­ge Commission.

About Xilinx

Xilinx, Inc. deve­lo­ps high­ly fle­xi­ble and adap­ti­ve com­pu­ting plat­forms that enable rapid inno­va­ti­on across a varie­ty of tech­no­lo­gies — from the cloud, to the edge, to the end­point. Xilinx is the inven­tor of the FPGA and Adap­ti­ve SoCs (inclu­ding our Adap­ti­ve Com­pu­te Acce­le­ra­ti­on Plat­form, or ACAP), desi­gned to deli­ver the most dyna­mic com­pu­ting tech­no­lo­gy in the indus­try. We col­la­bo­ra­te with our cus­to­mers to crea­te sca­lable, dif­fe­ren­tia­ted and intel­li­gent solu­ti­ons that enable the adap­ta­ble, intel­li­gent and con­nec­ted world of the future. For more infor­ma­ti­on, visit xilinx.com.

Xilinx, the Xilinx logo, Alveo, Artix, Kin­tex, Spar­tan, Ver­sal, Vitis, Vir­tex, Viv­a­do, Zynq, and other desi­gna­ted brands included her­ein are trade­marks of Xilinx in the United Sta­tes and/or other count­ries. All other trade­marks are the pro­per­ty of their respec­ti­ve owners.

XLNX‑F

XILINX, INC.
CONSOLIDATED STATEMENTS OF INCOME
(Unau­di­ted)
(In thou­sands, except per share amounts)
   

Three Months Ended

 

Nine Months Ended

 
   

Janu­ary 2, 2021

 

Sep­tem­ber 26, 2020

 

Decem­ber 28, 2019

 

Janu­ary 2, 2021

 

Decem­ber 28, 2019

 
Net reve­nues  

$

803,404

 

$

766,535

 

 

$

723,499

 

$

2,296,612

 

 

$

2,406,497

 
Cost of revenues:                      
Cost of pro­ducts sold  

 

249,529

 

 

218,120

 

 

 

233,324

 

 

693,753

 

 

 

804,197

 
Amor­tiza­ti­on of acqui­si­ti­on-rela­ted 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 mar­gin  

 

547,000

 

 

541,719

 

 

 

483,478

 

 

1,582,591

 

 

 

1,586,601

 
Ope­ra­ting expenses:                      
Rese­arch and development  

 

235,018

 

 

219,647

 

 

 

211,541

 

 

664,776

 

 

 

638,621

 
Sel­ling, gene­ral and administrative  

 

136,701

 

 

113,793

 

 

 

109,612

 

 

355,877

 

 

 

328,633

 
Amor­tiza­ti­on of acqui­si­ti­on-rela­ted intangibles  

 

2,856

 

 

2,862

 

 

 

2,919

 

 

8,581

 

 

 

5,488

 
Total ope­ra­ting expenses  

 

374,575

 

 

336,302

 

 

 

324,072

 

 

1,029,234

 

 

 

972,742

 
Ope­ra­ting income  

 

172,425

 

 

205,417

 

 

 

159,406

 

 

553,357

 

 

 

613,859

 
Inte­rest and other inco­me (expen­se), net  

 

3,709

 

 

(10,771

)

 

 

6,437

 

 

(19,215

)

 

 

30,378

 
Inco­me befo­re inco­me taxes  

 

176,134

 

 

194,646

 

 

 

165,843

 

 

534,142

 

 

 

644,237

 
Pro­vi­si­on for inco­me taxes  

 

5,162

 

 

830

 

 

 

3,831

 

 

75,517

 

 

 

13,774

 
Net inco­me  

$

170,972

 

$

193,816

 

 

$

162,012

 

$

458,625

 

 

$

630,463

 
Net inco­me per com­mon share:                      
Basic  

$

0.70

 

$

0.79

 

 

$

0.65

 

$

1.88

 

 

$

2.50

 
Diluted  

$

0.69

 

$

0.79

 

 

$

0.64

 

$

1.86

 

 

$

2.47

 
Cash divi­dends per com­mon 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 thou­sands)      
  Janu­ary 2, 2021   March 28, 2020*
  (unau­di­ted)    
ASSETS      
Cur­rent assets:      
Cash, cash equi­va­lents and short-term investments

$

3,324,425

 

$

2,267,216

Accounts receiva­ble, net

 

269,605

 

 

273,028

Invent­ories

 

300,107

 

 

304,340

Other cur­rent assets

 

73,112

 

 

64,557

Total cur­rent assets

 

3,967,249

 

 

2,909,141

Net pro­per­ty, 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 STOCKHOLDERSEQUITY      
Cur­rent liabilities:      
Accounts paya­ble and accrued liabilities

$

614,227

 

$

586,421

Cur­rent por­ti­on of long-term debt

 

499,865

 

 

499,260

Total cur­rent liabilities

 

1,114,092

 

 

1,085,681

Long-term debt

 

1,492,377

 

 

747,110

Other long-term liabilities

 

543,605

 

 

545,494

Stock­hol­ders’ equity

 

2,598,891

 

 

2,315,049

Total Lia­bi­li­ties and Stock­hol­ders’ Equity

$

5,748,965

 

$

4,693,334

       
* Fis­cal 2020 balan­ces are deri­ved from audi­ted finan­cial statements.
XILINX, INC.  
SUPPLEMENTAL FINANCIAL INFORMATION  
(Unau­di­ted)
(In thou­sands)
 

Three Months Ended

 

Nine Months Ended

 
 

Janu­ary 2, 2021

 

Sep­tem­ber 26, 2020

 

Decem­ber 28, 2019

 

Janu­ary 2, 2021

 

Decem­ber 28, 2019

 
SELECTED CASH FLOW INFORMATION:                    
Depre­cia­ti­on and amor­tiza­ti­on of software

$

30,818

 

$

30,249

 

$

26,331

 

$

92,816

 

$

68,882

 
Amor­tiza­ti­on — others

 

17,133

 

 

15,316

 

 

15,276

 

 

47,508

 

 

37,326

 
Stock-based com­pen­sa­ti­on

 

66,331

 

 

58,439

 

 

50,157

 

 

175,153

 

 

142,732

 
Net cash pro­vi­ded by ope­ra­ting activities

 

360,137

 

 

247,583

 

 

323,575

 

 

853,191

 

 

845,485

 
Purcha­ses of pro­per­ty, plant and equip­ment and software

 

6,009

 

 

15,331

 

 

34,138

 

 

36,801

 

 

96,980

 
Pay­ment of divi­dends to stockholders

 

93,155

 

 

93,105

 

 

92,931

 

 

278,674

 

 

280,376

 
Repurcha­ses of com­mon stock

 

-

 

 

-

 

 

260,939

 

 

53,682

 

 

738,184

 
Taxes paid rela­ted to net share sett­le­ment of rest­ric­ted stock units, net of pro­ceeds from issu­an­ce of com­mon 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

 
Rese­arch and development

 

40,228

 

 

36,110

 

 

31,543

 

 

106,707

 

 

86,119

 
Sel­ling, gene­ral and administrative

 

22,638

 

 

19,366

 

 

15,653

 

 

59,297

 

 

48,227

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

Janu­ary 2, 2021

Sep­tem­ber 26, 2020 Decem­ber 28, 2019 Janu­ary 2, 2021 Decem­ber 28, 2019
GAAP gross margin

$

547,000

 

$

541,719

 

$

483,478

 

$

1,582,591

 

$

1,586,601

 

Inven­to­ry valua­ti­on adjustment

 

-

 

 

-

 

 

2,114

 

 

-

 

 

3,856

 

Amor­tiza­ti­on of acqui­si­ti­on-rela­ted intangibles

 

6,875

 

 

6,696

 

 

6,697

 

 

20,268

 

 

15,699

 

M&A rela­ted expenses

 

114

 

 

-

 

 

-

 

 

114

 

 

-

 

Non-GAAP gross margin

$

553,989

 

$

548,415

 

$

492,289

 

$

1,602,973

 

$

1,606,156

 

           
GAAP ope­ra­ting income

$

172,425

 

$

205,417

 

$

159,406

 

$

553,357

 

$

613,859

 

Inven­to­ry valua­ti­on adjustment

 

-

 

 

-

 

 

2,114

 

 

-

 

 

3,856

 

Amor­tiza­ti­on of acqui­si­ti­on-rela­ted intangibles

 

9,731

 

 

9,558

 

 

9,616

 

 

28,849

 

 

21,187

 

M&A rela­ted expenses

 

19,150

 

 

1,506

 

 

3,042

 

 

22,219

 

 

12,393

 

Non-GAAP ope­ra­ting income

$

201,306

 

$

216,481

 

$

174,178

 

$

604,425

 

$

651,295

 

           
GAAP net income

$

170,972

 

$

193,816

 

$

162,012

 

$

458,625

 

$

630,463

 

Inven­to­ry valua­ti­on adjustment

 

-

 

 

-

 

 

2,114

 

 

-

 

 

3,856

 

Amor­tiza­ti­on of acqui­si­ti­on-rela­ted intangibles

 

9,731

 

 

9,558

 

 

9,616

 

 

28,849

 

 

21,187

 

M&A rela­ted expenses

 

19,150

 

 

1,506

 

 

3,042

 

 

22,219

 

 

12,393

 

Inco­me tax effect of tax-rela­ted items

 

(528

)

 

-

 

 

(3,697

)

 

56,273

 

 

(1,838

)

Inco­me 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

 

Inven­to­ry valua­ti­on adjustment

 

-

 

 

-

 

 

0.01

 

 

-

 

 

0.01

 

Amor­tiza­ti­on of acqui­si­ti­on-rela­ted intangibles

 

0.04

 

 

0.03

 

 

0.04

 

 

0.12

 

 

0.08

 

M&A rela­ted expenses

 

0.07

 

 

0.01

 

 

0.01

 

 

0.08

 

 

0.05

 

Inco­me tax effect of tax-rela­ted items

 

-

 

 

-

 

 

(0.01

)

 

0.23

 

 

(0.01

)

Inco­me 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

 

Capi­tal expen­dit­ures (inclu­ding 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

Cate­go­ry: Cor­po­ra­te Announcements

Contacts

Inves­tor Rela­ti­ons Contact:
Suresh Bhaskaran
Xilinx, Inc.
(408) 879‑4784
ir@xilinx.com