Xilinx Reports Third Quarter Fiscal Year 2021 Results

Amortization of acquisition-related intangibles: Amortization of acquisition-related intangible assets consists of amortization of intangible assets such as developed technology acquired in connection with business combinations. The non-GAAP adjustments exclude these charges to facilitate an evaluation of the Company’s current operating performance and comparisons to its past operating performance.

Income taxes: The Company excludes the income tax effects of non-GAAP adjustments reflected in operating expenses and other income, as detailed above. It also excludes other significant tax effects of post-acquisition tax integration transactions. The Company believes excluding post-acquisition tax integration items will facilitate a comparable evaluation of its current performance to its past performance.

In addition, free cash flow, which is cash flow from operations adjusted to exclude additions to software, property, plant, and equipment, is used by management when assessing the Company’s sources of liquidity, capital resources, and quality of earnings. The Company believes that this non-GAAP financial measure is helpful in understanding the Company’s capital requirements and provides an additional means to evaluate the cash flow trends of the Company’s business.

Forward-Looking Statements

This release contains forward-looking statements, which 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 uncertain events or assumptions also identify forward-looking statements. Such forward-looking statements include, but are not limited to, statements related to our proposed acquisition by AMD, the semiconductor market, the growth and acceptance of our products, expected revenue growth, the demand and growth in the markets we serve, and opportunity for expansion into new markets. Undue reliance should not be placed on such forward-looking statements, 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, among others, the impact of the ongoing COVID-19 pandemic and related mitigation measures (which, in addition to presenting its own risks and uncertainties, may also heighten the other risks and uncertainties faced by our business and decrease our visibility into all aspects of our business); closing of the proposed transaction with AMD on anticipated timing (including the risk that the conditions to the transaction are not satisfied on a timely basis or at all or the failure of the transaction to close for any other reason) and terms (including obtaining the anticipated tax treatment, regulatory approvals, required consents or authorizations); unanticipated difficulties or expenditures relating to the transaction; the response of business partners and retention as a result of the announcement and pendency of the transaction; the diversion of management time on transaction-related matters; customer acceptance of our new products; changing global economic conditions; our dependence on certain customers; trade and export restrictions; the condition and performance 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; our reliance on third parties (including distributors); variability in wafer pricing; costs and liabilities associated with current and future litigation (including litigation relating to the proposed transaction with AMD); our ability to generate cost and operating expense savings in an efficient and timely manner; our ability to realize the goals contemplated by our acquisitions and strategic investments; the impact of current and future legislative and regulatory changes; the impact of new accounting pronouncements and tax laws, including the U.S. Tax Cuts and Jobs Act, and interpretations thereof; and other risk factors described in our most recent Forms 10-Q and 10-K and subsequent filings with the U.S. Securities and Exchange Commission.

About Xilinx

Xilinx, Inc. develops highly flexible and adaptive computing platforms that enable rapid innovation across a variety of technologies - from the cloud, to the edge, to the endpoint. Xilinx is the inventor of the FPGA and Adaptive SoCs (including our Adaptive Compute Acceleration Platform, or ACAP), designed to deliver the most dynamic computing technology in the industry. We collaborate with our customers to create scalable, differentiated and intelligent solutions that enable the adaptable, intelligent and connected world of the future. For more information, visit xilinx.com.

Xilinx, the Xilinx logo, Alveo, Artix, Kintex, Spartan, Versal, Vitis, Virtex, Vivado, Zynq, and other designated brands included herein are trademarks of Xilinx in the United States and/or other countries. All other trademarks are the property of their respective owners.

XLNX-F

XILINX, INC.
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
(In thousands, except per share amounts)
 

Three Months Ended

 

Nine Months Ended

 
 

January 2, 2021

 

September 26, 2020

 

December 28, 2019

 

January 2, 2021

 

December 28, 2019

 
Net revenues  

$

803,404

 

$

766,535

 

 

$

723,499

 

$

2,296,612

 

 

$

2,406,497

 
Cost of revenues:            
Cost of products sold  

 

249,529

 

 

218,120

 

 

 

233,324

 

 

693,753

 

 

 

804,197

 
Amortization of acquisition-related intangibles  

 

6,875

 

 

6,696

 

 

 

6,697

 

 

20,268

 

 

 

15,699

 
Total cost of revenues  

 

256,404

 

 

224,816

 

 

 

240,021

 

 

714,021

 

 

 

819,896

 
Gross margin  

 

547,000

 

 

541,719

 

 

 

483,478

 

 

1,582,591

 

 

 

1,586,601

 
Operating expenses:                      
Research and development  

 

235,018

 

 

219,647

 

 

 

211,541

 

 

664,776

 

 

 

638,621

 
Selling, general and administrative  

 

136,701

 

 

113,793

 

 

 

109,612

 

 

355,877

 

 

 

328,633

 
Amortization of acquisition-related intangibles  

 

2,856

 

 

2,862

 

 

 

2,919

 

 

8,581

 

 

 

5,488

 
Total operating expenses  

 

374,575

 

 

336,302

 

 

 

324,072

 

 

1,029,234

 

 

 

972,742

 
Operating income  

 

172,425

 

 

205,417

 

 

 

159,406

 

 

553,357

 

 

 

613,859

 
Interest and other income (expense), net  

 

3,709

 

 

(10,771

)

 

 

6,437

 

 

(19,215

)

 

 

30,378

 
Income before income taxes  

 

176,134

 

 

194,646

 

 

 

165,843

 

 

534,142

 

 

 

644,237

 
Provision for income taxes  

 

5,162

 

 

830

 

 

 

3,831

 

 

75,517

 

 

 

13,774

 
Net income  

$

170,972

 

$

193,816

 

 

$

162,012

 

$

458,625

 

 

$

630,463

 
Net income per common share:                      
Basic  

$

0.70

 

$

0.79

 

 

$

0.65

 

$

1.88

 

 

$

2.50

 
Diluted  

$

0.69

 

$

0.79

 

 

$

0.64

 

$

1.86

 

 

$

2.47

 
Cash dividends per common share  

$

0.38

 

$

0.38

 

 

$

0.37

 

$

1.14

 

 

$

1.11

 
Shares used in per share calculations:                      
Basic  

 

245,145

 

 

244,837

 

 

 

250,546

 

 

243,976

 

 

 

252,330

 
Diluted  

 

248,148

 

 

246,763

 

 

 

252,808

 

 

246,786

 

 

 

255,758

 

« Previous Page 1 | 2 | 3 | 4 | 5 | 6  Next Page »



Review Article Be the first to review this article
Featured Video
Editorial
More Editorial  
Latest Blog Posts
Bob Smith, Executive DirectorBridging the Frontier
by Bob Smith, Executive Director
Trends in the Semiconductor Design Ecosystem
Vincent ThibautArteris IP Blog
by Vincent Thibaut
Arteris IP Extends IP-XACT to UVM Testbenches
Anupam BakshiAgnisys Automation Review
by Anupam Bakshi
Specification Automation for Designers
Jobs
Staff SerDes Applications Design Engineer for Xilinx at San Jose, California
Technical Product Manager- SISW-EDA 238452 for Siemens AG at Fremont, California
Pre-silicon Design Verification Engineer for Intel at Santa Clara, California
NAND Hardware Engineer for Apple Inc at Cupertino, California
Senior HID Sensor Algorithm Architect for Apple Inc at Cupertino, California
Senior Staff Field Application Engineer for Global Foundaries at Santa Clara, California
Upcoming Events
DesignCon 2021 at San Jose McEnery Convention Center San Jose, CA San Jose CA - Aug 16 - 18, 2021
SEMICON Southeast Asia 2021 Hybrid Event at Setia SPICE Convention Centre Penang Malaysia - Aug 23 - 27, 2021
SEMI Europe Summit at Online, Central European Time Germany Germany - Sep 1 - 3, 2021
7th International Conference on Sensors & Electronic Instrumentation Advances (SEIA' 2021) at Palma de Mallorca, Mallorca balearic islands) Spain - Sep 14 - 16, 2021



© 2021 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise