SAN JOSE, Calif., April 27, 2016 — (PRNewswire) —  Xilinx, Inc. (Nasdaq: XLNX) today announced fourth quarter fiscal 2016 sales of $571 million, up 1% sequentially, and up 1% from the fourth quarter of the prior fiscal year.  Fourth quarter net income was $145 million, or $0.54 per diluted share. Fiscal 2016 sales were $2.21 billion, down 7% from the prior fiscal year. Fiscal 2016 net income was $551 million, or $2.05 per diluted share. 

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The Xilinx Board of Directors declared a quarterly cash dividend of $0.33 per outstanding share of common stock, an increase from the current dividend of $0.31 per share. The quarterly dividend increase will be effective in the June quarter, payable on June 8, 2016 to all stockholders of record at the close of business on May 18, 2016. 

Additional fourth quarter comparisons are represented in the charts below:

 

"Momentum from our new products continued in the fourth fiscal quarter of 2016 with sales from 20nm products significantly exceeding $25 million and sales from the 28nm product family achieving record levels," said Moshe Gavrielov, Xilinx President and Chief Executive Officer.  "Although fiscal 2016 experienced volatility from the wireless communications segment, Xilinx delivered its third consecutive generation of products to market ahead of the competition, enabling substantial PLD share gains.  Additionally, our consistent and robust profitability enabled Xilinx to increase its dividend for the eleventh time since initiating the program in 2004."

                     

                                                                                                             

 

Products are classified as follows:

New products: UltraScale+,Ultrascale, 7-series and Spartan-6 products.
Mainstream products: Virtex-6, Virtex‐5, and CoolRunner‐II products.
Base products: Virtex‐4, Virtex‐II, Virtex‐E, Spartan-3, Spartan-II, Spartan, CoolRunner and XC9500 products.
Support products: Configuration solutions, Software & Support/Services.

 

Product and Financial Highlights – Fiscal 2016

• Xilinx commenced shipments of several of its unique versions of its 16nm UltraScale+ portfolio covering all three families:  Virtex, Kintex and Zynq.  These products closely follow the delivery of our 20nm UltraScale family, which includes the industry's only 20nm high-end FPGA.  Three consecutive generations of leadership technology at 28nm, 20nm and 16nm showcase the execution of our world class development in collaboration with our foundry partner, TSMC.  
• The Company's highly successful 20nm Ultrascale family approached $100M in sales in fiscal 2016, surpassing the Company's forecasts in every quarter of the fiscal year.   This family, which includes the PLD industry's only high-end family, is receiving adoption in a broad base of applications including wired and wireless communications, test & measurement, industrial and defense applications.
• The 28nm product family continues on the path to be the PLD industry's most successful product family in history.  Sales from these products reached a record level as Xilinx exited the fiscal year, driven by the Zynq product family which contributed more to incremental sales growth than any other new product in fiscal 2016. Zynq continues to drive new market adoption in areas such as augmented reality, driver assist and machine vision.
• During fiscal 2016, Xilinx paid its shareholders a record $319 million in dividends and repurchased 9.7 million shares for $443 million .  Additionally, Xilinx increased its quarterly dividend by $0.02 per share to $0.33 per share, the 11 ^th consecutive year of dividend increases since initiating its first dividend in 2004.  Xilinx has returned 100% of operating cash flow to stockholders in the form of dividend and share repurchase over the past ten years.     
• Xilinx announced strategic collaborations with Qualcomm Technologies, Inc. and IBM to accelerate data center applications. These collaborations are expected to enable higher performance and energy-efficient data center applications through Xilinx FPGA-enabled workload acceleration.  Target applications include machine learning, network functions virtualization (NFV), genomics, high performance computing and big data analytics.
• In the last year, Xilinx completed rollout of its SDx family of software defined development environments, significantly expanding its target user base to a much larger community of systems and software engineers.

Business Outlook – June Quarter Fiscal 2017

• Sales are expected to be approximately flat sequentially.
• Gross margin is expected to be 69% to 70%.
• Operating expenses are expected to be approximately $220 million including $1 million of amortization of acquisition-related intangibles. 
• Other income and expenses are expected to be a net expense of approximately $5 million .
• Fully diluted share count is expected to be approximately 266 million.
• June quarter tax rate is expected to be approximately 14%.

Conference Call

A conference call will be held today at 2:00 p.m. Pacific Time to discuss the March quarter financial results and management's outlook for the June quarter. The webcast and subsequent replay will be available in the investor relations section of the Company's web site at www.investor.xilinx.com . A telephonic replay of the call may be accessed later in the day by calling (855) 859-2056 and referencing confirmation code 84718595. The telephonic replay will be available for two weeks following the live call. 

This release contains forward-looking statements and projections. Forward-looking statements and projections 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 projections, uncertain events or assumptions also identify forward-looking statements.  Such forward looking statements include, but are not limited to, statements related to the semiconductor market, the growth and acceptance of our products, expected revenue growth, the demand and growth in the markets we serve, opportunity for expansion into new markets, and our expectations regarding our business outlook for the June quarter of fiscal 2017.  Undue reliance should not be placed on such forward-looking statements and projections, 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 customer acceptance of our new products, current global economic conditions, the health 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, variability in wafer pricing, costs and liabilities associated with current and future litigation, and other risk factors listed in our most recent Forms 10-Q and 10-K.

About Xilinx

Xilinx is the leading provider of All Programmable FPGAs, SoCs, MPSoCs, and 3D ICs. Xilinx uniquely enables applications that are both software defined and hardware optimized – powering industry advancements in Cloud Computing, Embedded Vision, Industrial IoT, and 5G Wireless. For more information, visit www.xilinx.com .

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

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Investor Relations Contact:
Lori Owen
Xilinx, Inc.
(408) 879-6911
Email Contact

 

 

 

 

 

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