SAN JOSE, Calif. -- April 22, 2015 -- Xilinx, Inc. (Nasdaq: XLNX) today announced fiscal 2015 sales of $2.38 billion, flat with the prior fiscal year. Fiscal 2015 net income increased 3% to $648 million, or $2.35 per diluted share, versus fiscal 2014 net income of $630 million or $2.19 per diluted share.
Fourth quarter fiscal 2015 sales were $567 million, down 4% sequentially and down 8% from the fourth quarter of the prior fiscal year. Fourth quarter fiscal 2015 net income was $135 million, or $0.50 per diluted share, including a $24 million restructuring charge, or $0.08 per diluted share.
Additional fourth quarter comparisons are represented in the charts below:
GAAP Results
(In millions, except EPS)
Growth Rates | |||||
Q4 FY 2015 | Q3 FY 2015 | Q4 FY 2014 | Q-T-Q | Y-T-Y | |
Net revenues | $567 | $594 | $618 | -4% | -8% |
Operating income | $159 | $190 | $190 | -17% | -16% |
Net income | $135 | $168 | $156 | -20% | -14% |
Diluted earnings per share | $0.50 | $0.62 | $0.53 | -19% | -6% |
"Sales from the 28nm product family increased significantly with broad-based growth in all end markets and all products," said Moshe Gavrielov, Xilinx President and Chief Executive Officer. "Additionally, the Company reported a record gross margin for the fiscal year of 70%. This is up from 69% in the prior fiscal year and is a testament to the continued focus and rigor we have placed on improving our overall profitability."
Net Revenues by Geography:
Percentages | Growth Rates | ||||
Q4 FY 2015 | Q3 FY 2015 | Q4 FY 2014 | Q-T-Q | Y-T-Y | |
North America | 32% | 34% | 27% | -8% | 10% |
Asia Pacific | 37% | 39% | 43% | -8% | -20% |
Europe | 21% | 17% | 21% | 12% | -9% |
Japan | 10% | 10% | 9% | -5% | -5% |
Net Revenues by End Market:
Percentages | Growth Rates | ||||
Q4 FY 2015 | Q3 FY 2015 | Q4 FY 2014 | Q-T-Q | Y-T-Y | |
Communications & Data Center | 39% | 41% | 49% | -7% | -26% |
Industrial, Aerospace & Defense | 42% | 43% | 34% | -7% | 13% |
Broadcast, Consumer & Automotive | 17% | 14% | 15% | 12% | 6% |
Other | 2% | 2% | 2% | -12% | -31% |
Net Revenues by Product:
Percentages | Growth Rates | ||||
Q4 FY 2015 | Q3 FY 2015 | Q4 FY 2014 | Q-T-Q | Y-T-Y | |
New | 49% | 43% | 42% | 8% | 5% |
Mainstream | 29% | 29% | 34% | -6% | -22% |
Base | 19% | 25% | 21% | -25% | -14% |
Support | 3% | 3% | 3% | 4% | -6% |
Products are classified as follows:
Key Statistics:
(Dollars in millions)
Q4 FY 2015 | Q3 FY 2015 | Q4 FY 2014 | |
Annual Return on Equity (%)* | 24 | 25 | 22 |
Operating Cash Flow | $166 | $291 | $189 |
Depreciation Expense | $14 | $14 | $14 |
Capital Expenditures | $6 | $6 | $14 |
Combined Inventory Days | 136 | 134 | 115 |
Revenue Turns (%) | 51 | 44 | 54 |
*Return on equity calculation: Annualized net income/average stockholders' equity
Product and Financial Highlights – Fiscal 2015
Business Outlook – June Quarter Fiscal 2016
Financial Tables
To read financial tables, click here
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 98457054. 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.