Xilinx Reports Record Revenues Exceeding $3 Billion For Fiscal 2019

Products are classified as follows:

Advanced Products: Alveo, 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.

Key Statistics:

(Dollars in Millions)



Q4

FY 2019

Q3

FY 2019

Q4

FY 2018





Annual Return on Equity (%)*

34

34

19





Operating Cash Flow

$288

$314

$242





Depreciation Expense (including software amortization)

$22

$18

$16





Capital Expenditures (including software)

$28

$20

$21





Combined Inventory Days

112

109

117





Revenue Turns (%)

35

40

33


*Return on equity calculation: Annualized year to date GAAP net income/average stockholders' equity

Product and Financial Highlights – Fiscal Year 2019  

  • Driven by 5G, Communications revenues increased 34% compared to last fiscal year. Wireless strength resulted from momentum across both radio and baseband applications with OEM customers; especially due to 5G deployment in South Korea and preparation for 5G deployment in China. During the year, Xilinx and Samsung jointly enabled the world's first 5G NR commercial deployment. Xilinx also expanded its breakthrough RFSoC portfolio to the full sub-6GHz spectrum support that is required for 5G.
  • Data Center and Test, Measurement & Emulation (TME) revenues grew double digits during fiscal year 2019, driven by the Data Center business which grew 40%. During the fiscal year, Xilinx demonstrated strong design-win momentum across hyperscalers, enterprise customers and partners and increased the cumulative number of Xilinx ISV partners to over 500. Xilinx continued to enable key Xilinx platform and Alveo partners through its corporate venture initiatives, doubling ecosystems investments year over year to more than 20 portfolio companies addressing key applications in a variety of areas including data analytics, financial computing and video streaming acceleration.
    Continuing on this path, Xilinx announced today that it has entered into a definitive agreement to acquire Solarflare Communications, a leading provider of high-performance, low latency networking solutions for customers spanning FinTech to cloud computing, further accelerating its "Data Center First" strategy. This acquisition will enable Xilinx to combine its industry leading FPGA, MPSoC and ACAP solutions with Solarflare's high-speed network interface card (NIC) technology and Onload application acceleration software, to enable a new converged SmartNIC platform.
  • Xilinx Automotive business grew double digits reflecting the Company's leading and growing position in Advanced Driver Assist Systems (ADAS). During the fiscal year, Daimler showcased its AI solution in the new Mercedes GLE Sport Utility Vehicle that is powered by Xilinx products. In addition, ZF Friedrichshafen AG, a global leader and Tier-1 automotive supplier announced a strategic collaboration in which Xilinx technology will power its highly advanced AI-based automotive control unit to enable automated driving applications. Further, BYD in China started mass production of front-camera ADAS technology using Xilinx SoCs.
  • Industrial, Aerospace & Defense as well as Automotive, Broadcast and Consumer primary end markets grew to new sales records, with each market supported by a robust and diversified portfolio. Industrial, Aerospace & Defense strength was driven primarily by Industrial growing double digits. Revenues from Automotive, Broadcast and Consumer were driven by double digit growth from each of the businesses.

Business Outlook – Fiscal First Quarter 2020  

The following guidance is  based on current expectations and estimates, and as indicated, are presented on a GAAP and non-GAAP basis. This guidance is forward-looking and actual results may differ materially, as a result of, among other things, the important factors discussed at the end of this release.  


GAAP

Non-GAAP
Adjustments

Non-GAAP

Revenues

$835M - $865M

-

$835M - $865M

Gross Margin

~66%

-

~66%

Operating Expenses

~$315M

$7M (1)

~$308M

Other Income

 ~$15M

-

 ~$15M

Tax Rate

     7% - 9%

-

   7% -9%



(1)

Includes an estimated $7 million in M&A related expenses and amortization of acquisition related intangibles


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