SAN JOSE, Calif., July 22, 2014 -- Xilinx, Inc.(Nasdaq: XLNX) today announced first quarter fiscal 2015 sales of$613 million, down 1% from the prior quarter and up 6% from thesame quarter of the prior fiscal year. First quarter fiscal 2015net income was $174 million or $0.62 per diluted share.
The Xilinx Board of Directors announced a quarterly cash dividendof $0.29 per outstanding share of common stock, payable on August27, 2014 to all stockholders of record at the close of business onAugust 6, 2014.
Additional first quarter comparisons are represented in thecharts below:
GAAP Results
(In millions, except EPS)
| Growth Rates | |||||
| Q1 FY 2015 | Q4 FY 2014 | Q1 FY 2014 | Q-T-Q | Y-T-Y | |
| Net revenues | $612.6 | $617.8 | $579.0 | -1% | 6% |
| Operating income | $206.5 | $189.5 | $192.9 | 9% | 7% |
| Net income | $173.6 | $156.0 | $157.0 | 11% | 11% |
| Diluted earnings per share | $0.62 | $0.53 | $0.56 | 17% | 11% |
"June quarter revenues were impacted by weaker than anticipatedsales from our defense and wireless businesses," said MosheGavrielov, Xilinx President and Chief Executive Officer. "However,I am pleased by our continued focus on supply chain efficienciesand cost reduction efforts, which resulted in gross and operatingmargins of 69.1% and 33.7%, respectively. Looking ahead to thesecond half of our fiscal year, I believe Xilinx is positioned tobenefit from a recovery in wireless and defense programs as wellas improved business conditions in wired communications andindustrial applications."
Net Revenues by Geography:
| Percentages | Growth Rates | ||||
| Q1 FY 2015 | Q4 FY 2014 | Q1 FY 2014 | Q-T-Q | Y-T-Y | |
| North America | 26% | 27% | 31% | -4% | -12% |
| Asia Pacific | 43% | 43% | 36% | -2% | 26% |
| Europe | 21% | 21% | 24% | 1% | -7% |
| Japan | 10% | 9% | 9% | 9% | 21% |
Net Revenues by End Market:
| Percentages | Growth Rates | ||||
| Q1 FY 2015 | Q4 FY 2014 | Q1 FY 2014 | Q-T-Q | Y-T-Y | |
| Communications & Data Center | 50% | 49% | 44% | 1% | 20% |
| Industrial, Aerospace & Defense | 31% | 34% | 37% | -9% | -11% |
| Broadcast, Consumer & Automotive | 16% | 15% | 16% | 5% | 3% |
| Other | 3% | 2% | 3% | 39% | 11% |
Net Revenues by Product:
| Percentages | Growth Rates | ||||
| Q1 FY 2015 | Q4 FY 2014 | Q1 FY 2014 | Q-T-Q | Y-T-Y | |
| New | 45% | 42% | 30% | 6% | 58% |
| Mainstream | 34% | 34% | 36% | 0% | -2% |
| Base | 18% | 21% | 30% | -14% | -36% |
| Support | 3% | 3% | 4% | -9% | -9% |
Products are classified as follows:
Key Statistics:
(Dollars in millions)
| Q1 FY 2015 | Q4 FY 2014 | Q1 FY 2014 | |
| Annual Return on Equity (%)* | 25 | 22 | 21 |
| Operating Cash Flow | $130 | $189 | $144 |
| Depreciation Expense | $13 | $14 | $14 |
| Capital Expenditures | $9 | $14 | $11 |
| Combined Inventory Days | 135 | 115 | 105 |
| Revenue Turns (%) | 47 | 54 | 56 |
*Return on equity calculation: Annualized net income/averagestockholders' equity
Highlights – June Quarter Fiscal 2015
Business Outlook – September Quarter Fiscal 2015
Financial Tables
To read financial tables, click
Conference Call
A conference call will be held today at 2:00 p.m. Pacific Time todiscuss the June quarter financial results and management'soutlook for the September quarter. The webcast and subsequentreplay will be available in the investor relations section of theCompany's web site at www.investor.xilinx.com.A telephonic replay of the call may be accessed later in the dayby calling (855) 859-2056 and referencing confirmation code59028978. The telephonic replay will be available for two weeksfollowing the live call.
About Xilinx
Xilinx develops All Programmable technologies and devices, beyondhardware to software, digital to analog, and single to multipledie in 3D ICs. These industry leading devices are coupled with anext-generation design environment and IP to serve a broad rangeof customer needs, from programmable logic to programmable systemsintegration. For more information visit