Xilinx Announces Q3 Fiscal 2013 Results

SAN JOSE, Calif., Jan. 17, 2013 /PRNewswire-FirstCall/ -- Xilinx, Inc. (Nasdaq: XLNX) today announced third quarter fiscal 2013 sales of $509.8 million, down 6% sequentially and flat from the third quarter of the prior fiscal year.  Third quarter fiscal 2013 net income was $103.6 million, or $0.38 per diluted share. 

(Logo: http://photos.prnewswire.com/prnh/20020822/XLNXLOGO)

The Xilinx Board of Directors announced a quarterly cash dividend of $0.22 per outstanding share of common stock, payable on February 27, 2013 to all stockholders of record at the close of business on February 6, 2013.

Additional third quarter comparisons are represented in the charts below:

"New Product sales increased 17% sequentially in the December quarter, driven by robust adoption of Kintex™-7 and Virtex®-6 FPGAs.  Strength from New Products is an encouraging sign in the face of macroeconomic conditions that remained challenging during the quarter," said Moshe Gavrielov, Xilinx President and Chief Executive Officer.  "Exiting calendar 2012, I believe we have the strongest product portfolio in our history, a generation ahead of the competition.  Our 28-nm products have gained significant momentum across a broad base of applications with clear leadership in performance, power and integration.   Sales from these product families increased nearly 20% sequentially in the December quarter, exceeding expectations."

Products are classified as follows:

New products: Virtex‐7, Kintex‐7, Artix™-7, Zynq™-7000, Virtex‐6, Spartan™‐6 products
Mainstream products: Virtex‐5, Spartan‐3 and CoolRunner(TM)‐II products
Base products: Virtex‐4, Virtex‐II, Virtex‐E, Virtex, Spartan-II, Spartan, CoolRunner and XC9500 products
Support products: Configuration solutions, HardWire, Software & Support/Services

Highlights - December Quarter Fiscal 2013

• Xilinx announced its strategy for its 20-nm portfolio, including the next-generation 8 series All Programmable FPGAs and second generation of 3D ICs and SoCs.  This next generation product family builds on a substantial competitive technology lead and addresses the rigorous requirements of next-generation ever 'smarter,' highly integrated, bandwidth hungry systems.   The Vivado™ Design Suite is co-optimized with the 20-nm products to enable an unprecedented level of routability, quality of results, and up to a 4X improvement in design productivity. 
• Xilinx estimates its share of the PLD market increased by nearly three percentage points in calendar 2012.  Share gains were driven by particularly strong customer adoption of our 40-nm and 28-nm product families.  These product families are being designed into a broad base of applications within wired and wireless communications, industrial, defense, audio video broadcast and automotive.  

Business Outlook — March Quarter Fiscal 2013

• Sales are expected to be up 2% to 6% sequentially.
• Gross margin is expected to be approximately 66%.
• Operating expenses are expected to be approximately $208 million, including $2 million of amortization of acquisition-related intangibles.
• Other income and expense is expected to be an expense of approximately $7 million.
• Fully diluted share count is expected to be approximately 274 million.
• March quarter tax rate is expected to be approximately 13 - 14%.

Conference Call

A conference call will be held today at 2:00 p.m. Pacific Time to discuss the third 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 81590004. 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," "believe,"  "may," "will," "could," "anticipate," "estimate," "continue," "plan," "intend," "project" or other similar expressions.  Statements that refer to or are based on projections, uncertain events or assumptions also identify forward-looking statements.  Such forward looking statements include, but are not limited to, statements related to the semiconductor market, the growth and acceptance of our products, expected revenue growth, the demand and growth in the markets we serve, opportunity for expansion into new markets, and our expectations regarding our business outlook for the March quarter for fiscal 2013.  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 customer acceptance of our new products, current global economic conditions, the health of our customers and the end markets in which they participate, our ability to forecast end customer demand, a high dependence on turns business, 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 Forms 10-Q and 10-K.

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.

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Xilinx, the Xilinx logo, Artix, ISE, Kintex, Spartan, Virtex, Zynq, Vivado, and other designated brands included 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

SOURCE Xilinx, Inc.