SAN JOSE, Calif., Jan. 20, 2016 -- Xilinx, Inc. (Nasdaq: XLNX) today announced third quarter fiscal 2016 sales of $566 million, up 7% from the prior quarter and down 5% from the same quarter of the prior fiscal year. Third quarter fiscal 2016 net income was $131 million, or $0.49 per diluted share.
The Xilinx Board of Directors announced a quarterly cash dividend of $0.31 per outstanding share of common stock, payable on March 16, 2016 to all stockholders of record at the close of business on March 2, 2016.
Additional third quarter comparisons are set forth in the charts below:
GAAP Results
(In millions, except EPS)
| Growth Rates | |||||
| Q3 FY 2016 | Q2 FY 2016 | Q3 FY 2015 | Q-T-Q | Y-T-Y | |
| Net revenues | $566 | $528 | $594 | 7% | -5% |
| Operating income | $160 | $153 | $190 | 5% | -16% |
| Net income | $131 | $127 | $168 | 3% | -22% |
| Diluted earnings per share | $0.49 | $0.48 | $0.62 | 2% | -21% |
"New product sales were exceptionally strong during the quarter increasing 18% sequentially, enabling Xilinx to reach the high-end of our sales guidance. Both our 7-series and UltraScale families reached new sales records during the quarter, driven by a very broad base of end markets," said Moshe Gavrielov, Xilinx President and Chief Executive Officer. "During the quarter we continued to execute on the delivery of our next-generation UltraScale+ family by launching public access development support for these families. This closely follows the first shipment of the Zynq UltraScale+ MPSoc last quarter, which was ahead of schedule. The capabilities of the UltraScale+ product family, coupled with its first-mover advantage, make it uniquely suited for applications ranging from next generation ADAS and Industrial Internet-of-Things to 5G wireless."
Net Revenues by Geography:
| Percentages | Growth Rates | ||||
| Q3 FY 2016 | Q2 FY 2016 | Q3 FY 2015 |
Q-T-Q |
Y-T-Y | |
| North America | 32% | 30% | 34% | 16% | -10% |
| Asia Pacific | 41% | 40% | 39% | 9% | -1% |
| Europe | 17% | 20% | 17% | -6% | -5% |
| Japan | 10% | 10% | 10% | 2% | 0% |
Net Revenues by End Market:
| Percentages | Growth Rates | ||||
| Q3 FY 2016 | Q2 FY 2016 | Q3 FY 2015 | Q-T-Q | Y-T-Y | |
| Communications & Data Center | 43% | 41% | 43% | 12% | -3% |
| Industrial, Aerospace & Defense | 41% | 41% | 43% | 7% | -10% |
| Broadcast, Consumer & Automotive | 16% | 18% | 14% | -4% | 7% |
Net Revenues by Product:
| Percentages | Growth Rates | ||||
| Q3 FY 2016 | Q2 FY 2016 | Q3 FY 2015 | Q-T-Q | Y-T-Y | |
| New | 47% | 43% | 36% | 18% | 28% |
| Mainstream | 23% | 25% | 26% | -3% | -17% |
| Base | 26% | 28% | 35% | -1% | -30% |
| Support | 4% | 4% | 3% | 17% | 11% |
Products are classified as follows:
Key Statistics:
(Dollars in millions)
| Q3 FY 2016 | Q2 FY 2016 | Q3 FY 2015 | |
| Annual Return on Equity (%)* | 21 | 21 | 25 |
| Operating Cash Flow | $290 | $134 | $291 |
| Depreciation Expense | $13 | $12 | $14 |
| Capital Expenditures | $6 | $5 | $6 |
| Combined Inventory Days | 119 | 137 | 134 |
| Revenue Turns (%) | 49 | 51 | 44 |
*Return on equity calculation: Annualized net income/average stockholders' equity
Highlights – December Quarter Fiscal 2016
Business Outlook – March 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 December quarter financial results and management's outlook for the March 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 98854132. 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.