Xilinx Reports Fiscal First Quarter 2022 Results

  • Record reve­nue of $879 mil­li­on, repre­sen­ting 3% sequen­ti­al growth and 21% annu­al growth, des­pi­te ongo­ing indus­try-wide sup­ply chain challenges
  • Data Cen­ter Group (DCG) reve­nue in the quar­ter incre­a­sed 14% sequen­ti­al­ly dri­ven by strong demand across hypersca­le cloud cus­to­mers and the Fin­tech market
  • Wired and Wire­less Group (WWG) reve­nue was up 13% year-over-year and flat sequen­ti­al­ly dri­ven by con­ti­nuing glo­bal 5G deployments
  • Aero­space & Defen­se, Indus­tri­al and Test, Mea­su­re­ment & Emu­la­ti­on (AIT) reve­nue decli­ned 10% sequen­ti­al­ly, with record Indus­tri­al end mar­ket per­for­mance off­set by a decli­ne in Aero­space & Defen­se sales, and a modest decli­ne in TME
  • Auto­mo­ti­ve, Broad­cast and Con­su­mer (ABC) reve­nue in the quar­ter incre­a­sed 13% sequen­ti­al­ly, with record quar­ters in the Broad­cast and Con­su­mer end markets
  • Plat­form trans­for­ma­ti­on con­ti­nues with total Adap­ti­ve SoC reve­nue, which inclu­des Zynq and Ver­sal plat­forms, up 13% sequen­ti­al­ly and 83% year-over-year, and repre­sen­ting 28% of total revenue
  • Fis­cal first quar­ter free cash flow of $373 mil­li­on, repre­sen­ting 42% of revenue

SAN JOSE, Calif.–Xilinx, Inc. (Nasdaq: XLNX), the lea­der in adap­ti­ve com­pu­ting, today announ­ced record reve­nues of $879 mil­li­on for the fis­cal first quar­ter, up 3% over the pre­vious quarter.

GAAP net inco­me for the fis­cal first quar­ter was $206 mil­li­on, or $0.83 per dilu­t­ed share. Non-GAAP net inco­me for the quar­ter was $236 mil­li­on, or $0.95 per dilu­t­ed share.

Addi­tio­nal first quar­ter of fis­cal year 2022 com­pa­ri­sons are pro­vi­ded in the charts below.

Q1 Fis­cal 2022 Finan­cial Highlights

(In mil­li­ons, except EPS)

 

 

GAAP

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1

 

Q4

 

Q1

 

 

 

 

 

 

 

 

FY2022

 

FY2021

 

FY2021

 

 

 

Q‑T-Q

 

Y‑T-Y

Net reve­nues*

 

$879

 

$851

 

$727

 

 

 

3%

 

21%

Gross mar­gin

 

$586

 

$570

 

$494

 

 

 

3%

 

19%

Ope­ra­ting income

 

$210

 

$200

 

$176

 

 

 

5%

 

20%

Net inco­me

 

$206

 

$188

 

$94

 

 

 

10%

 

120%

Dilu­t­ed ear­nings per share

 

$0.83

 

$0.75

 

$0.38

 

 

 

11%

 

118%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-GAAP

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Q1

 

Q4

 

Q1

 

 

 

 

 

 

 

 

FY2022

 

FY2021

 

FY2021

 

 

 

Q‑T-Q

 

Y‑T-Y

Net reve­nues*

 

$879

 

$851

 

$727

 

 

 

3%

 

21%

Gross mar­gin

 

$596

 

$579

 

$501

 

 

 

3%

 

19%

Ope­ra­ting income

 

$246

 

$228

 

$187

 

 

 

8%

 

32%

Net inco­me

 

$236

 

$204

 

$160

 

 

 

16%

 

47%

Dilu­t­ed ear­nings per share

 

$0.95

 

$0.82

 

$0.65

 

 

 

16%

 

46%

 

 

 

* No adjus­t­ment bet­ween GAAP and Non-GAAP

Xilinx deli­ve­r­ed ano­t­her record quar­ter as the demand for our pro­ducts remains robust, des­pi­te an unpre­ce­den­ted and chal­len­ging sup­ply cons­trai­ned envi­ron­ment,” said Vic­tor Peng, Xilinx pre­si­dent and CEO. “Our stel­lar results were dri­ven by strength across our diver­si­fied end mar­kets. We con­ti­nue to actively mana­ge the sup­ply situa­ti­on with our part­ners, inclu­ding qua­li­fy­ing a new sup­plier in a key part of our sup­ply chain, to meet strong cus­to­mer demand. In addi­ti­on, we con­ti­nue to exe­cu­te extre­me­ly well on our road­map as we have broa­den­ed the Ver­sal port­fo­lio with the Ver­sal Edge and Ver­sal HBM seri­es announ­ce­ments. We are working every day to impro­ve sup­ply for our customers.”

Record Q1 reve­nues were dri­ven by strength in the Data Cen­ter end mar­ket, as well as a record quar­ters for our Indus­tri­al, Broad­cast and Con­su­mer end mar­kets. This dro­ve 3% sequen­ti­al and 21% year-over-year growth,” said Bri­ce Hill, Xilinx CFO. “Advan­ced Pro­ducts grew 2% sequen­ti­al­ly and 27% annu­al­ly, and repre­sen­ted 72% of total reve­nue. Top line per­for­mance dro­ve record free cash flows of $373 mil­li­on, or 42% of revenue.

While days of inven­to­ry are near his­to­ri­cal lows due to the sup­ply chain cons­traints, we expect inven­to­ry to remain rela­tively sta­ble at cur­rent levels as some expec­ted sup­ply incre­a­ses will be off­set by con­ti­nued strong cus­to­mer demand. COVID sur­ges in Sou­the­ast Asia during Q1 resul­ted in hig­her quar­ter-end ship­ments to dis­tri­bu­tors resul­ting in tran­si­to­ry hig­her chan­nel inven­to­ry. Chan­nel inven­to­ry levels decre­a­sed by the ear­ly part of fis­cal Q2 as pro­ducts ship­ped through to end cus­to­mers, and remain lean. We are very proud of the effort and agi­li­ty of our employees and part­ners in sup­port of our customers.”

Net Reve­nues by Geography:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Per­cen­ta­ges

 

 

 

Growth Rates

 

 

Q1

 

Q4

 

Q1

 

 

 

 

 

 

 

 

FY2022

 

FY2021

 

FY2021

 

 

 

Q‑T-Q

 

Y‑T-Y

North Ame­ri­ca

 

23%

 

27%

 

26%

 

 

 

-14%

 

7%

Asia Paci­fic

 

52%

 

49%

 

54%

 

 

 

11%

 

17%

Euro­pe

 

15%

 

16%

 

13%

 

 

 

0%

 

44%

Japan

 

10%

 

8%

 

7%

 

 

 

22%

 

55%

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Reve­nues by End Market:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Per­cen­ta­ges

 

 

 

Growth Rates

 

 

Q1

 

Q4

 

Q1

 

 

 

 

 

 

 

 

FY2022

 

FY2021

 

FY2021

 

 

 

Q‑T-Q

 

Y‑T-Y

A&D, Indus­tri­al and TME

 

36%

 

41%

 

45%

 

 

 

-10%

 

-2%

Auto­mo­ti­ve, Broad­cast and Consumer

 

20%

 

18%

 

12%

 

 

 

13%

 

94%

Wired and Wire­less Group

 

30%

 

31%

 

32%

 

 

 

0%

 

13%

Data Cen­ter Group

 

10%

 

9%

 

12%

 

 

 

14%

 

-1%

Chan­nel

 

4%

 

1%

 

-1%

 

 

 

NM

 

NM

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Reve­nues by Product:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Per­cen­ta­ges

 

 

 

Growth Rates

 

 

Q1

 

Q4

 

Q1

 

 

 

 

 

 

 

 

FY2022

 

FY2021

 

FY2021

 

 

 

Q‑T-Q

 

Y‑T-Y

Advan­ced Products

 

72%

 

73%

 

68%

 

 

 

2%

 

27%

Core Pro­ducts

 

28%

 

27%

 

32%

 

 

 

7%

 

8%

Pro­ducts are clas­si­fied as follows:

Advan­ced Pro­ducts: Ver­sal, UltraS­ca­le+, UltraS­ca­le and 7‑series pro­duct fami­lies, and pro­duc­tion boards busi­ness com­po­sed of Alveo, Solar­fla­re, Net­work, and System-On-Modules.

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)

             

 

 

Q1

 

Q4

 

Q1

 

 

FY2022

 

FY2021

 

FY2021

 

 

 

 

 

 

 

Ope­ra­ting Cash Flow

 

$390

 

$240

 

$245

Depre­cia­ti­on Expen­se (inclu­ding soft­ware amortization)

 

$32

 

$30

 

$32

Capi­tal Expen­dit­ures (inclu­ding software)

 

$17

 

$13

 

$15

Free Cash Flow (1)

 

$373

 

$227

 

$230

Inven­to­ry Days (inter­nal)

 

89

 

101

 

114

Reve­nue Turns (%)

 

27

 

29

 

31

(1)  

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

Pro­duct and Finan­cial High­lights — Fis­cal First Quar­ter 2022

  • Xilinx unvei­led the Ver­sal™ AI Edge seri­es, desi­gned to enab­le AI inno­va­ti­on from the edge to the end­point with 10x grea­ter com­pu­te den­si­ty ver­sus pre­vious-genera­ti­on adap­ti­ve SoCs. Tar­get app­li­ca­ti­ons inclu­de auto­ma­ted dri­ving, col­la­bo­ra­ti­ve robo­tics, pre­dic­ti­ve fac­to­ry and health­ca­re sys­tems, and mul­ti-mis­si­on payloads for the aero­space and defen­se end markets.
  • Xilinx also intro­du­ced the Ver­sal™ HBM seri­es, archi­tec­ted to keep up with the hig­her memo­ry needs of the most com­pu­te inten­si­ve, memo­ry bound app­li­ca­ti­ons for data cen­ter, wired net­wor­king, test and mea­su­re­ment, and aero­space and defen­se end markets.
  • Xilinx intro­du­ced Viva­do® ML Edi­ti­ons, the industry’s first FPGA EDA tool suite based on machi­ne-lear­ning opti­miz­a­ti­on algo­rith­ms, as well as advan­ced team-based design flows, for signi­fi­cant design time and cost savings.
  • Xilinx released Vitis™ AI 1.4 fea­turing sup­port for the Company’s 7nm Ver­sal ACAPs and the 16nm-based Kria™ SoM pro­vi­ding more pos­si­bi­li­ties for users to achie­ve hig­her-per­for­mance, sca­la­bi­li­ty and cloud-to-edge deploy­ment opti­ons in AI productization.
  • Xilinx acqui­red Sile­xi­ca, a pro­vi­der of C/C++ pro­gramming and ana­ly­sis tools who­se SLX FPGA tool suite will be inte­gra­ted with the Xilinx Vitis uni­fied soft­ware plat­form to redu­ce the lear­ning cur­ve for soft­ware deve­lo­pers buil­ding app­li­ca­ti­ons on Xilinx technology.

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. 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 has sus­pen­ded its quar­ter­ly divi­dend as well as its open mar­ket stock repurcha­se program.

Non-GAAP Finan­cial Information

Fis­cal first quar­ter 2022 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, Kria 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.

XILINX, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unau­di­ted)
(In thousands, except per share amounts)
    Three Mon­ths Ended
    July 3, 2021   April 3, 2021   June 27, 2021
Net reve­nues  

$

878,606

 

$

850,987

 

 

$

726,673

 

Cost of revenues:            
Cost of pro­ducts sold  

 

283,441

 

 

272,851

 

 

 

226,103

 

Amor­tiz­a­ti­on of acqui­si­ti­on-rela­ted intangibles  

 

9,066

 

 

7,733

 

 

 

6,697

 

Total cost of revenues  

 

292,507

 

 

280,584

 

 

 

232,800

 

Gross mar­gin  

 

586,099

 

 

570,403

 

 

 

493,873

 

Ope­ra­ting expenses:            
Rese­arch and development  

 

247,975

 

 

239,863

 

 

 

210,113

 

Sel­ling, gene­ral and administrative  

 

124,920

 

 

127,872

 

 

 

105,383

 

Amor­tiz­a­ti­on of acqui­si­ti­on-rela­ted intangibles  

 

2,841

 

 

2,887

 

 

 

2,862

 

Total ope­ra­ting expenses  

 

375,736

 

 

370,622

 

 

 

318,358

 

Ope­ra­ting income  

 

210,363

 

 

199,781

 

 

 

175,515

 

Inte­rest and other inco­me (expen­se), net  

 

1,000

 

 

(4,245

)

 

 

(12,153

)

Inco­me befo­re inco­me taxes  

 

211,363

 

 

195,536

 

 

 

163,362

 

Pro­vi­si­on for inco­me taxes  

 

5,022

 

 

7,652

 

 

 

69,526

 

Net inco­me  

$

206,341

 

$

187,884

 

 

$

93,836

 

Net inco­me per com­mon share:            
Basic  

$

0.84

 

$

0.76

 

 

$

0.39

 

Dilu­t­ed  

$

0.83

 

$

0.75

 

 

$

0.38

 

Cash divi­dends per com­mon share  

$

 

$

 

 

$

0.38

 

Shares used in per share calculations:            
Basic  

 

245,860

 

 

245,774

 

 

 

243,180

 

Dilu­t­ed  

 

249,320

 

 

249,030

 

 

 

245,543

 

XILINX, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
    July 3, 2021   April 3, 2021
    (unau­di­ted)    
ASSETS    
Cur­rent assets:    
Cash, cash equi­va­lents and short-term investments  

$

3,389,631

 

$

3,078,899

Accounts receiva­ble, net  

 

233,887

 

 

285,214

Invent­ories  

 

287,043

 

 

311,085

Other cur­rent assets  

 

75,848

 

 

71,064

Total cur­rent assets  

 

3,986,409

 

 

3,746,262

Net pro­per­ty, plant and equipment  

 

343,993

 

 

345,023

Other assets  

 

1,521,781

 

 

1,427,916

Total Assets  

$

5,852,183

 

$

5,519,201

         
         
LIABILITIES AND STOCKHOLDERSEQUITY        
Cur­rent liabilities:        
Accounts paya­ble and accrued liabilities  

$

714,896

 

$

624,555

Total cur­rent liabilities  

 

714,896

 

 

624,555

Long-term debt  

 

1,492,999

 

 

1,492,688

Other long-term liabilities  

 

524,684

 

 

514,997

Stock­hol­ders’ equity  

 

3,119,604

 

 

2,886,961

Total Lia­bi­li­ties and Stock­hol­ders’ Equity  

$

5,852,183

 

$

5,519,201

         
         
* Fis­cal 2021 balan­ces are deri­ved from audi­ted finan­cial statements.
XILINX, INC.            
SUPPLEMENTAL FINANCIAL INFORMATION            
(Unau­di­ted)            
(In thousands)            
    Three Mon­ths Ended
    July 3, 2021   April 3, 2021   June 27, 2021
SELECTED CASH FLOW INFORMATION:            
Depre­cia­ti­on and amor­tiz­a­ti­on of software  

$

32,192

 

$

29,616

 

 

$

31,749

Amor­tiz­a­ti­on — others  

 

17,946

 

 

16,574

 

 

 

15,059

Stock-based com­pen­sa­ti­on  

 

67,609

 

 

71,077

 

 

 

50,383

Net cash pro­vi­ded by ope­ra­ting activities  

 

389,897

 

 

240,030

 

 

 

245,471

Purcha­ses of pro­per­ty, plant and equip­ment and software  

 

17,186

 

 

12,864

 

 

 

15,461

Pay­ment of divi­dends to stockholders  

 

 

 

 

 

 

92,414

Repay­ment of debt  

 

 

 

500,000

 

 

 

Repurcha­ses of com­mon stock  

 

 

 

 

 

 

53,682

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

 

3,796

 

 

(29,400

)

 

 

3,239

             
             
STOCK-BASED COMPENSATION INCLUDED IN:            
Cost of revenues  

$

3,610

 

$

3,616

 

 

$

2,721

Rese­arch and development  

 

41,462

 

 

43,564

 

 

 

30,369

Sel­ling, gene­ral and administrative  

 

22,537

 

 

23,897

 

 

 

17,293

XILINX, INC.
RECONCILIATIONS OF GAAP ACTUALS TO NON-GAAP ACTUALS
(Unau­di­ted)
(In thousands, except per share amounts)
    Three Mon­ths Ended
    July 3, 2021   April 3, 2021   June 27, 2021
GAAP gross margin  

$

586,099

 

 

$

570,403

 

 

$

493,873

 

Amor­tiz­a­ti­on of acqui­si­ti­on-rela­ted intangibles  

 

9,066

 

 

 

7,733

 

 

 

6,697

 

M&A rela­ted expenses  

 

933

 

 

 

842

 

 

 

 

Non-GAAP gross margin  

$

596,098

 

 

$

578,978

 

 

$

500,570

 

             
GAAP ope­ra­ting income  

$

210,363

 

 

$

199,781

 

 

$

175,515

 

Amor­tiz­a­ti­on of acqui­si­ti­on-rela­ted intangibles  

 

11,907

 

 

 

10,620

 

 

 

9,559

 

M&A rela­ted expenses  

 

23,757

 

 

 

17,220

 

 

 

1,563

 

Non-GAAP ope­ra­ting income  

$

246,027

 

 

$

227,621

 

 

$

186,637

 

             
GAAP net income  

$

206,341

 

 

$

187,884

 

 

$

93,836

 

Amor­tiz­a­ti­on of acqui­si­ti­on-rela­ted intangibles  

 

11,907

 

 

 

10,620

 

 

 

9,559

 

M&A rela­ted expenses  

 

23,757

 

 

 

17,220

 

 

 

1,563

 

Inco­me tax effect of tax-rela­ted items  

 

 

 

 

(6,776

)

 

 

56,801

 

Inco­me tax effect of non-GAAP adjustments  

 

(6,259

)

 

 

(5,006

)

 

 

(1,590

)

Non-GAAP net income  

$

235,746

 

 

$

203,942

 

 

$

160,169

 

             
GAAP dilu­t­ed EPS  

$

0.83

 

 

$

0.75

 

 

$

0.38

 

Amor­tiz­a­ti­on of acqui­si­ti­on-rela­ted intangibles  

 

0.05

 

 

 

0.04

 

 

 

0.04

 

M&A rela­ted expenses  

 

0.10

 

 

 

0.08

 

 

 

0.01

 

Inco­me tax effect of tax-rela­ted items  

 

 

 

 

(0.03

)

 

 

0.23

 

Inco­me tax effect of non-GAAP adjustments  

 

(0.03

)

 

 

(0.02

)

 

 

(0.01

)

Non-GAAP dilu­t­ed EPS  

$

0.95

 

 

$

0.82

 

 

$

0.65

 

             
GAAP cash flow from operations  

$

389,897

 

 

$

240,030

 

 

$

245,471

 

Capi­tal expen­dit­ures (inclu­ding software)  

 

(17,186

)

 

 

(12,864

)

 

 

(15,461

)

Free cash flow  

$

372,711

 

 

$

227,166

 

 

$

230,010

 

XLNX‑F

Source: Xilinx Newsroom

 

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