SAN JOSE, Calif., April 25, 2018 -- Xilinx, Inc. (Nasdaq: XLNX) today announced record revenues of $2.54 billion for fiscal year 2018, up 8% from the prior fiscal year. Revenues were $673 million for the fourth quarter of fiscal year 2018, up 7% from the prior quarter and up 10% from the fourth quarter of the prior fiscal year.
Fiscal year 2018 net income was $512 million or $1.99 per diluted share. March quarter net income was $166 million, or $0.64 per diluted share. In fiscal Q3, net income was negatively impacted by approximately $183 million due to the enactment of the 2017 Tax Cuts and Jobs Act. In fiscal Q4, net income was negatively impacted by $33 million due to executive transition costs.
The Xilinx Board of Directors declared a quarterly cash dividend of $0.36 per outstanding share of common stock, an increase from the current dividend of $0.35 per share. The dividend will be payable on June 4, 2018 to all stockholders of record at the close of business on May 15, 2018.
Additional fourth quarter of fiscal year 2018 comparisons are represented in the charts below:
(In millions, except EPS)
"Fiscal 2018 was a record year for Xilinx with revenues of $2.5 billion as we realized 8% annual growth driven by broad-based strength across multiple markets, reflecting our concerted efforts to accelerate top line growth," said Victor Peng, President and Chief Executive Officer. "During the year, we continued to build significant momentum in our data center end market and further strengthened the ecosystem. With our three-pronged strategy of data center first, accelerating growth in core markets and driving adaptive compute, Xilinx is well positioned to achieve our long-term growth objectives while delivering shareholder value."
Net Revenues by Geography:
Net Revenues by End Market:
Net Revenues by Product:
Products are classified as follows:
Advanced Products: UltraScale+, Ultrascale and 7-series products.
Core Products: Virtex-6, Spartan-6, Virtex‐5, CoolRunner‐II, Virtex-4, Virtex-II, Spartan-3, Spartan-2, XC9500 products, configuration solutions, software & support/services.
(Dollars in millions)
*Return on equity calculation: Annualized year to date net income/average stockholders' equity
Product and Financial Highlights - Fiscal Year 2018
- The Advanced Products category continues to deliver strong revenue growth during fiscal year 2018, posting an increase of 28% from the previous year and constituting approximately 54% of total sales. Broad-based growth was driven by the Zynq SoC platform and the industry-leading 20nm and 16nm technology nodes. Zynq platform revenue increased more than 60% during the year with growth driven largely by applications in Advanced Driver Assist (ADAS), Industrial, Aerospace and Defense, Communications, and Consumer. Revenues from the 20nm node increased more than 50% from the previous year and the 16nm node continued its accelerated ramp with sales more than quadrupling during the same period.
- The Industrial, Aerospace & Defense end market set another annual sales record in fiscal year 2018 with revenues of approximately $1.2 billion, an increase of 21% compared to fiscal year 2017. The growth was driven primarily by significant strength in Aerospace & Defense and Semiconductor Test and Emulation Applications.
- Xilinx has established significant momentum in Data Center over the past fiscal year, both developing the foundation for and building out a vibrant ecosystem. The Company demonstrated significant developer engagement on the AWS F1 instance and has trained a total of more than 400 developers, with approximately 300 of those in the March quarter alone. Xilinx continues to invest in its SDAccel environment and middleware libraries to make it easier for software programmers to program Xilinx FPGAs in higher level languages using industry standard APIs and frameworks. As an example, Xilinx recently released a Machine Learning suite on the AWS F1 environment with support for TensorFlow.
- Xilinx recently announced a new breakthrough product category called Adaptive Compute Acceleration Platform (ACAP) that extends far beyond the capabilities of an FPGA. An ACAP is a highly integrated multi-core heterogeneous compute platform that can be changed at the hardware level to adapt to the needs of a wide range of applications, including Artificial Intelligence, and workloads resulting from explosive growth of unstructured data such as database acceleration and video transcoding.
- During fiscal year 2018, Xilinx returned approximately $828 million to shareholders. This included $475 million through share repurchases at an average price of $68.30 per share and $353 million through dividends. Xilinx recently increased its quarterly dividend by $0.01 per share to $0.36 per share, effective in the June quarter of fiscal year 2019, marking its 13th consecutive year of dividend increases.
Business Outlook - June Quarter Fiscal Year 2019
- Sales are expected to be approximately $660 - $690 million.
- Gross margin is expected to be 69% to 71%.
- Operating expenses are expected to be approximately $260 million
- Other income is expected to be approximately $3 million.
- June quarter tax rate is expected to be approximately 10% -14%
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 9477513. The telephonic replay will be available for two weeks following the live call.
Xilinx develops highly flexible and adaptive processing platforms that enable rapid innovation across a variety of technologies - from the endpoint to the edge to the cloud. Xilinx is the inventor of the FPGA, hardware programmable SoCs and the ACAP, designed to deliver the most dynamic processor technology in the industry and enable the adaptable, intelligent and connected world of the future. For more information, visit www.xilinx.com.