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Xilinx Announces Record Revenues and Raises Quarterly Dividend; New Product Sales Increase 18% Sequentially.
SAN JOSE, Calif., April 26 /PRNewswire-FirstCall/ -- Xilinx, Inc. (Nasdaq: XLNX) today announced net revenues of $472.3 million in the fourth quarter of fiscal 2006, up 5% sequentially from the prior quarter and up 21% from the same quarter a year ago. Fourth quarter net income was $110.7 million, or $0.32 per diluted share, including a $4.5 million acquisition- related charge. The tax provision for the fourth quarter includes an $8.9 million, or $0.03 per diluted share, benefit related to prior year adjustments driven primarily by an over provision of state income taxes. This is compared to net income of $81.0 million or $0.23 per diluted share in the prior quarter.
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Xilinx also announced today that the Company's Board of Directors increased its quarterly cash dividend from $0.07 to $0.09 per outstanding share of common stock, payable on May 31, 2006 to all stockholders of record at the close of business on May 10, 2006.
"Strong European sales coupled with solid New Product growth enabled Xilinx to exit the fiscal year with record revenues," said Wim Roelandts, Chief Executive Officer and Chairman of the Board. "European sales increased 15% sequentially and 24% versus the same quarter a year ago, driven by customers in the Communications end market. I am also pleased with the sales growth of New Products which increased 18% sequentially during the March quarter. Sales from most products in this category surpassed internal forecasts. Sales of the Virtex™-4 family were exceptionally strong during the quarter, increasing more than 70% sequentially."
A first quarter business update will be issued in the form of a press release after the market closes on Thursday, June 8, 2006. Financial guidance to the investment community will be limited to the points mentioned in the business update document. Please sign up for a push email alert, which is available from our investor relations web site at http://www.investor.xilinx.com.
This release contains forward-looking statements and projections. 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 our customers to manage their inventories, a high dependence on turns business, higher-than-anticipated product delinquencies, 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 secure meaningful wafer capacity from our suppliers, our ability to secure adequate test, packaging and assembly capacity from our suppliers, 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.
Xilinx, Inc. is the worldwide leader of programmable logic solutions. Additional information about Xilinx is available at http://www.xilinx.com.
SOURCE Xilinx, Inc.
Lori Owen of Xilinx, Inc.,
Web site: http://www.xilinx.com