Xilinx Announces Q2 Fiscal 2013 Results

SAN JOSE, Calif., Oct. 17, 2012 -- Xilinx, Inc. (Nasdaq: XLNX) today announced second quarter fiscal 2013 sales of $543.9 million, down 7% sequentially and down 2% from the second quarter of the prior fiscal year.  Second quarter fiscal 2013 net income was $123.4 million, or $0.46 per diluted share.

The Xilinx Board of Directors announced a quarterly cash dividend of $0.22 per outstanding share of common stock, payable on November 28, 2012 to all stockholders of record at the close of business on November 7, 2012.

Additional second quarter comparisons are represented in the charts below:

"Sales from our industry-leading, All Programmable 28-nm products exceeded $20 million during the quarter with sales from all five family members.  Our 28-nm product portfolio is the industry's broadest; and design win activity for all five family members continues to be exceptionally strong across a broad base of end markets and applications.  This is particularly impressive given the backdrop of a challenging macroeconomic environment," said Moshe Gavrielov, Xilinx President and Chief Executive Officer.   "With All Programmable FPGAs, SoCs, and 3D ICs available today, leadership in performance, power and integration and unmatched productivity gains with Vivadoâ„¢ Design Suite, Xilinx is unequivocally a generation ahead at 28-nm."

 Products are classified as follows:

New products: Virtex®‐7, Kintexâ„¢‐7, Zynqâ„¢-7000, Artixâ„¢ - 7, Virtex‐6, Spartanâ„¢‐6, products

Mainstream products: Virtex‐5, Spartan‐3 and CoolRunnerâ„¢‐II products

Base products: Virtex‐4, Virtex‐II, Virtex‐E, Virtex, Spartan-II, Spartan, CoolRunner and XC9500 products

Support products: Configuration solutions, HardWire, Software & Support/Services

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

Highlights - September Quarter Fiscal 2013

• Xilinx announced the acquisition of substantially all of the assets of two companies during the quarter:   Modesat Communications and PetaLogix.  The acquisition of Modesat, a high performance wireless backhaul solutions provider, allows customers to retain their proprietary IP, while leveraging the backhaul solutions and the flexibility of Xilinx All Programmable FPGAs and SoC devices to achieve faster time-to-market.  The acquisition of PetaLogix, an embedded Linux solutions provider, enables Xilinx to strengthen its capabilities and commitment to customers to provide the best Linux solutions possible.
• Xilinx remains committed to delivering stockholder value.   In spite of a challenging macroeconomic environment, Xilinx generated nearly $200 million in operating cash flow during the quarter, paid $57 million in dividends to stockholders and repurchased 2.5 million shares. 

Business Outlook - December Quarter Fiscal 2013 

• Sales are expected to be down 1% to down 5% sequentially.
• Gross margin is expected to be approximately 66%.
• Operating expenses are expected to be approximately $224 million, including $3 million of amortization of acquisition-related intangibles.
• Other income and expense is expected to be an expense of approximately $7 million.
• Fully diluted share count is expected to be approximately 269 million.
• Full year fiscal 2013 tax rate is expected to be approximately 15%.

Conference Call

A conference call will be held today at 2:00 p.m. Pacific Time to discuss the second quarter financial results and management's outlook for the December 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 30459116. The telephonic replay will be available for two weeks following the live call. 

About Xilinx

Xilinx develops All Programmable technologies and devices, beyond hardware to software, digital to analog, and single to multiple die in 3D ICs.  These industry leading devices are coupled with a next-generation design environment and IP to serve a broad range of customer needs, from programmable logic to programmable systems integration.  For more information visit www.xilinx.com.