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July 15, 2009 at 12:00 AM EDT

Xilinx Announces First Quarter Fiscal 2010 Results

Financial Tables

SAN JOSE, Calif., July 15, 2009 /PRNewswire-FirstCall/ -- Xilinx, Inc. (Nasdaq: XLNX) today announced first quarter fiscal 2010 sales of $376.2 million, down 5% sequentially and down 23% from the first quarter of the prior fiscal year. First quarter net income was $38.0 million, or $0.14 per diluted share, including previously announced pre-tax restructuring charges totaling $15.8 million, and the reversal of $8.7 million of interest income previously accrued on the tax prepayment as a result of the recent adverse court case ruling. Collectively, these items represented approximately $0.07 per diluted share after tax.

The Xilinx Board of Directors declared a quarterly cash dividend of $0.14 per outstanding share of common stock, payable on August 26, 2009 to all stockholders of record at the close of business on August 5, 2009.

"Sales growth was impacted in the June quarter by supply constraints primarily relating to certain Virtex -5 devices in high demand," said Moshe Gavrielov, Xilinx President and Chief Executive Officer. "We reduced SG&A and R&D expenses by more than 5% sequentially and generated $128 million of operating cash flow. At the same time, we remain committed to our ongoing investment in next generation FPGA development, which we expect to drive future growth opportunities."

During the June quarter, sales from Asia Pacific increased 2% sequentially to represent a record 37% of total sales. This was up from 35% of sales in the prior quarter, and up from 32% of total sales in the same quarter a year ago. Sales from all other geographies declined sequentially during the quarter.

Conference Call

A conference call will be held today at 2:00 p.m. Pacific Time to discuss the quarter's 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 (800) 642-1687 and referencing confirmation code 16517886. The telephonic replay will be available for two weeks following the live call.

This release contains forward-looking statements and projections. Forward-looking statements and projections can often be identified by the use of forward-looking words such as "expect," "may," "will," "could," "believe," "anticipate," "estimate," "continue," "plan," "intend," "project" or other similar words. Undue reliance should not be placed on such forward-looking statements and projections, which speak only as of the date they are made. We undertake no obligation to update such forward-looking statements. Actual events and results may differ materially from those in the forward-looking statements and are subject to risks and uncertainties including the general health of global economies as well as of the semiconductor industry, the health of our end markets and our customers' customers, our ability to forecast end customer demand, customer acceptance of our new products, the ability of the Company to generate cost and operating expense savings in an efficient and timely fashion, the ability of our customers to manage their inventories, a high dependence on turns business, the ability of our foundry suppliers to deliver sufficient wafer volumes in a timely manner, more customer volume discounts than expected, greater product mix changes than anticipated, fluctuations in manufacturing yields, our ability to deliver product in a timely manner, our ability to successfully manage production at multiple foundries, variability in wafer pricing, and other risk factors listed in our most recent Form 10-K.

About Xilinx

Xilinx, Inc. (NASDAQ: XLNX) is the worldwide leader of programmable logic solutions. Additional information about Xilinx is available at http://www.xilinx.com.

Xilinx, the Xilinx logo, Virtex, Spartan, ISE, and other brands designated herein are trademarks of Xilinx in the United States and other countries. All other trademarks are the property of their respective owners.

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Investor Relations Contact:
Lori Owen
Xilinx, Inc.
(408) 879-6911
ir@xilinx.com