Xilinx Reports Record Results; Revenues Up 11% Sequentially, Up
54% vs. Last Year
SAN JOSE, Calif.--(BUSINESS WIRE)--Jan. 18, 2000--Xilinx, Inc. (NASDAQ:XLNX)
today announced results for the third quarter of fiscal 2000 ending January 1, 2000. Third
quarter revenue was a record $264.3 million, an increase of approximately 11% from the
previous quarter, and an increase of 54% from the third quarter of last year. Operating income
increased 13% sequentially, excluding a $4.6 million
harge in the prior quarter associated with
the acquisition of Philip's CPLD business, as Xilinx continued to reduce operating expenses as a
percentage of total revenues. Net income for the third quarter was $68.5 million, or $0.20 per
diluted share, an increase of 16% from the prior quarter, excluding the above-mentioned charge.
Profit margin at 26% and revenues per employee of $560,000 both set records during the
quarter.
"The December quarter was a strong quarter," commented Wim Roelandts, Xilinx's chief
executive officer. "Revenues from all geographies were up sequentially during the quarter with
Japan posting the strongest revenue growth due to wider adoption of our new products in
consumer and telecommunications applications as well as to favorable exchange rates."
Roelandts continued, "Sales to customers in the communications sector continue to represent the
majority of Xilinx revenues and constituted $177 million in the December quarter--up over 59%
from the same quarter a year ago. Xilinx products are gaining broad customer acceptance in
applications such as networking, telecommunications and wireless, fortifying our position as the
largest fabless chip supplier to communications customers."
Business Review - Third Quarter FY'00:
End customer bookings and backlog for the March quarter are both up from last quarter.
Turns bookings averaged approximately 50% for the quarter.
Inventory days at Xilinx and at worldwide distribution were 88 days and 63 days,
respectively.
Capital expenditures and depreciation were $62 million and $8 million, respectively.
Revenue by Geography - Third Quarter FY'00:
Region Q3 FY'00 Q2 FY'00 Q3 FY'99 Sequential
Change
North America 65% 68% 71% 6%
Europe 20% 20% 20% 7%
Japan 10% 6% 5% 73%
ROW 5% 6% 4% 7%
Revenue by End Market - Third Quarter FY'00:
End Market Q3 FY'00 Q2 FY'00 Q3 FY'99 Sequential
Change
Communications 67% 70% 65% 6%
Computing 24% 18% 20% 48%
Other 9% 12% 15% -17%
Revenue by Technology - Third Quarter FY'00:
Product Family Q3 FY'00 Q2 FY'00 Q3 FY'99 Sequential
Change
Base (0.6(u) or greater) 13% 12% 22% 20%
Mainstream (0.5(u) & 0.35(u))52% 54% 65% 6%
Advanced (0.25(u) or less) 27% 25% 2% 18%
Support 8% 9% 11% 7%
*T
Product segments are defined as follows:
Base products (XC2000, XC3000, XC3100 and XC4000)
Mainstream products (XC4000E, XC4000EX, XC4000XL, XC5200, XC9500,
XC9500XL, Spartan and CoolRunner)
Advanced products (XC4000XV, XC4000XLA, SpartanXL, and Virtex/E)
Support products (Serial PROMs, HardWire and Software)
Copies of financial literature, including this release, are available via fax or voice recording by
dialing Xilinx's shareholder service line at 1-800-836-4002. Investor information is also available
on the Investor Relations Web site at investor.xilinx.com.
Xilinx is the leading innovator of complete programmable logic solutions, including advanced
integrated circuits, software design tools, predefined system functions delivered as cores, and
unparalleled field engineering support. Founded in 1984 and headquartered in San Jose, Calif.,
Xilinx invented the field programmable gate array (FPGA) and fulfills more than half of the world
demand for these devices today. Xilinx solutions enable customers to reduce significantly the
time required to develop products for the computer, peripheral, telecommunications,
networking, industrial control, instrumentation, high-reliability/military, and consumer markets.
For more information, visit the Xilinx web site at www.xilinx.com.
For more information on Xilinx, access our World Wide Web site at www.xilinx.com.
Xilinx is a registered trademark of Xilinx, Inc. All XC-prefix product designations are
trademarks of Xilinx, Inc. Other brands or product names are trademarks or registered
trademarks of their respective owners.
XILINX, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Thousands except per share amounts) (Unaudited)
Three months ended Nine months ended
Jan. 1, Jan. 2, Oct. 2, Jan. 1, Jan. 2,
2000 1999 1999 2000 1999
Net revenues $ 264,259 $ 171,633 $ 238,762 $ 714,424 $ 477,673
Cost of revenues 99,576 67,116 90,205 269,539 182,172
Research and
development 31,590 23,036 29,345 86,944 66,399
Sales, general
and administrative 47,950 33,858 43,902 131,391 97,739
Write-off of in-process
technology -- -- 4,560 4,560 --
-------- -------- -------- ------- -------
Operating income 85,143 47,623 70,750 221,990 131,363
Interest and
other income, net 7,254 1,853 6,320 19,253 3,433
--------- --------- --------- -------- --------
Income before provision
for taxes on income,
equity in joint
venture and cumulative
effect of change in
accounting principle 92,397 49,476 77,070 241,243 134,796
Provision for taxes
on income 26,795 12,642 22,350 69,960 39,091
--------- --------- --------- --------- ---------
Income before equity
in joint venture
and cumulative
effect of change
in accounting
principle 65,602 36,834 54,720 171,283 95,705
Equity in net
income (loss)
of joint venture 2,902 (727) 1,254 4,810 (5,721)
--------- --------- --------- -------- --------
Income before
cumulative effect
of change in
accounting principle 68,504 36,107 55,974 176,093 89,984
Cumulative effect
of change in
accounting principle -- -- -- -- (26,646)
-------- --------- -------- --------- --------
Net income (loss) $ 68,504 $ 36,107 $ 55,974 $ 176,093 63,338
Basic net income
(loss) per share
Net income per share
before accounting
change, as restated 0.21 0.13 0.18 0.56 0.31
Cumulative effect of
change in accounting
principle -- -- -- -- (0.09)
--------- -------- -------- -------- --------
Basic net income
(loss)per share $ 0.21 $ 0.13 $ 0.18 $ 0.56 $ 0.22
--------- --------- --------- --------- ---------
Diluted net income
(loss) per share
Net income per share
before accounting
change, as restated 0.20 0.12 0.16 0.52 0.30
Cumulative effect of
change in accounting
principle -- -- -- -- (0.09)
Diluted net income
(loss) per share $ 0.20 $ 0.12 $ 0.16 $ 0.52 $ 0.21
Common and equivalent shares
used in computing net income
per share amounts
Basic 319,891 287,639 317,534 315,678 288,886
Diluted 346,162 302,325 343,007 341,068 303,066
XILINX, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (Thousands)
Jan. 1, April 3,
2000 1999
(Unaudited) Audited
Current assets
Cash, cash equivalents
and short term investments $ 497,541 $ 402,472
Accounts receivable, net 96,266 73,409
Inventories 97,580 52,036
Advances for wafer purchases 41,854 59,450
Deferred income taxes
and other current assets 124,184 70,342
------- -------
Total current assets 857,425 657,709
Property, plant and equipment, net 198,197 101,705
Long-term investments 196,710 94,002
Restricted investments - 34,358
Investment in joint venture 103,210 91,057
Advances for wafer purchases - 36,694
Developed technology and other assets 35,395 54,723
----------- -----------
Total assets $ 1,390,937 $ 1,070,248
Current liabilities
Accounts payable and
accrued liabilities $ 99,863 $ 81,488
Deferred revenue on
shipments to distributors 73,047 85,709
---------- -----------
Total current liabilities 172,910 167,197
Deferred tax liabilities 23,956 23,733
Stockholders' equity
Common stock and
additional paid-in capital 425,359 294,793
Retained earnings 783,153 607,060
Treasury stock, at cost - (5,112)
Accumulated other
comprehensive income (14,441) (17,423)
--------- --------
SORRY wg. des schlechten Zeilenumbruches, aber ich kriege das nicht besser hin (weiß jemand wie das geht ?)
Fazit:
Aktuelle XLNX an NASDAQ wieder +5% = 47,81 US$ = 49,25 E
Da geht nach der lt. Pattern-Recognition fälligen Konsolidierung jetzt wieder die Post.
Laut Merryl Linch ist das nächste Kursziel bei 55-60 $ zu sehen, wobei bei weiter explodierendem Handymarkt die nächsten Kursziele exorbitant seien werden. Immerhin ist XLNX DER MARKFÜHRER bei PLD-Chips weltweit.
CHECKIT
54% vs. Last Year
SAN JOSE, Calif.--(BUSINESS WIRE)--Jan. 18, 2000--Xilinx, Inc. (NASDAQ:XLNX)
today announced results for the third quarter of fiscal 2000 ending January 1, 2000. Third
quarter revenue was a record $264.3 million, an increase of approximately 11% from the
previous quarter, and an increase of 54% from the third quarter of last year. Operating income
increased 13% sequentially, excluding a $4.6 million
harge in the prior quarter associated with
the acquisition of Philip's CPLD business, as Xilinx continued to reduce operating expenses as a
percentage of total revenues. Net income for the third quarter was $68.5 million, or $0.20 per
diluted share, an increase of 16% from the prior quarter, excluding the above-mentioned charge.
Profit margin at 26% and revenues per employee of $560,000 both set records during the
quarter.
"The December quarter was a strong quarter," commented Wim Roelandts, Xilinx's chief
executive officer. "Revenues from all geographies were up sequentially during the quarter with
Japan posting the strongest revenue growth due to wider adoption of our new products in
consumer and telecommunications applications as well as to favorable exchange rates."
Roelandts continued, "Sales to customers in the communications sector continue to represent the
majority of Xilinx revenues and constituted $177 million in the December quarter--up over 59%
from the same quarter a year ago. Xilinx products are gaining broad customer acceptance in
applications such as networking, telecommunications and wireless, fortifying our position as the
largest fabless chip supplier to communications customers."
Business Review - Third Quarter FY'00:
End customer bookings and backlog for the March quarter are both up from last quarter.
Turns bookings averaged approximately 50% for the quarter.
Inventory days at Xilinx and at worldwide distribution were 88 days and 63 days,
respectively.
Capital expenditures and depreciation were $62 million and $8 million, respectively.
Revenue by Geography - Third Quarter FY'00:
Region Q3 FY'00 Q2 FY'00 Q3 FY'99 Sequential
Change
North America 65% 68% 71% 6%
Europe 20% 20% 20% 7%
Japan 10% 6% 5% 73%
ROW 5% 6% 4% 7%
Revenue by End Market - Third Quarter FY'00:
End Market Q3 FY'00 Q2 FY'00 Q3 FY'99 Sequential
Change
Communications 67% 70% 65% 6%
Computing 24% 18% 20% 48%
Other 9% 12% 15% -17%
Revenue by Technology - Third Quarter FY'00:
Product Family Q3 FY'00 Q2 FY'00 Q3 FY'99 Sequential
Change
Base (0.6(u) or greater) 13% 12% 22% 20%
Mainstream (0.5(u) & 0.35(u))52% 54% 65% 6%
Advanced (0.25(u) or less) 27% 25% 2% 18%
Support 8% 9% 11% 7%
*T
Product segments are defined as follows:
Base products (XC2000, XC3000, XC3100 and XC4000)
Mainstream products (XC4000E, XC4000EX, XC4000XL, XC5200, XC9500,
XC9500XL, Spartan and CoolRunner)
Advanced products (XC4000XV, XC4000XLA, SpartanXL, and Virtex/E)
Support products (Serial PROMs, HardWire and Software)
Copies of financial literature, including this release, are available via fax or voice recording by
dialing Xilinx's shareholder service line at 1-800-836-4002. Investor information is also available
on the Investor Relations Web site at investor.xilinx.com.
Xilinx is the leading innovator of complete programmable logic solutions, including advanced
integrated circuits, software design tools, predefined system functions delivered as cores, and
unparalleled field engineering support. Founded in 1984 and headquartered in San Jose, Calif.,
Xilinx invented the field programmable gate array (FPGA) and fulfills more than half of the world
demand for these devices today. Xilinx solutions enable customers to reduce significantly the
time required to develop products for the computer, peripheral, telecommunications,
networking, industrial control, instrumentation, high-reliability/military, and consumer markets.
For more information, visit the Xilinx web site at www.xilinx.com.
For more information on Xilinx, access our World Wide Web site at www.xilinx.com.
Xilinx is a registered trademark of Xilinx, Inc. All XC-prefix product designations are
trademarks of Xilinx, Inc. Other brands or product names are trademarks or registered
trademarks of their respective owners.
XILINX, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Thousands except per share amounts) (Unaudited)
Three months ended Nine months ended
Jan. 1, Jan. 2, Oct. 2, Jan. 1, Jan. 2,
2000 1999 1999 2000 1999
Net revenues $ 264,259 $ 171,633 $ 238,762 $ 714,424 $ 477,673
Cost of revenues 99,576 67,116 90,205 269,539 182,172
Research and
development 31,590 23,036 29,345 86,944 66,399
Sales, general
and administrative 47,950 33,858 43,902 131,391 97,739
Write-off of in-process
technology -- -- 4,560 4,560 --
-------- -------- -------- ------- -------
Operating income 85,143 47,623 70,750 221,990 131,363
Interest and
other income, net 7,254 1,853 6,320 19,253 3,433
--------- --------- --------- -------- --------
Income before provision
for taxes on income,
equity in joint
venture and cumulative
effect of change in
accounting principle 92,397 49,476 77,070 241,243 134,796
Provision for taxes
on income 26,795 12,642 22,350 69,960 39,091
--------- --------- --------- --------- ---------
Income before equity
in joint venture
and cumulative
effect of change
in accounting
principle 65,602 36,834 54,720 171,283 95,705
Equity in net
income (loss)
of joint venture 2,902 (727) 1,254 4,810 (5,721)
--------- --------- --------- -------- --------
Income before
cumulative effect
of change in
accounting principle 68,504 36,107 55,974 176,093 89,984
Cumulative effect
of change in
accounting principle -- -- -- -- (26,646)
-------- --------- -------- --------- --------
Net income (loss) $ 68,504 $ 36,107 $ 55,974 $ 176,093 63,338
Basic net income
(loss) per share
Net income per share
before accounting
change, as restated 0.21 0.13 0.18 0.56 0.31
Cumulative effect of
change in accounting
principle -- -- -- -- (0.09)
--------- -------- -------- -------- --------
Basic net income
(loss)per share $ 0.21 $ 0.13 $ 0.18 $ 0.56 $ 0.22
--------- --------- --------- --------- ---------
Diluted net income
(loss) per share
Net income per share
before accounting
change, as restated 0.20 0.12 0.16 0.52 0.30
Cumulative effect of
change in accounting
principle -- -- -- -- (0.09)
Diluted net income
(loss) per share $ 0.20 $ 0.12 $ 0.16 $ 0.52 $ 0.21
Common and equivalent shares
used in computing net income
per share amounts
Basic 319,891 287,639 317,534 315,678 288,886
Diluted 346,162 302,325 343,007 341,068 303,066
XILINX, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (Thousands)
Jan. 1, April 3,
2000 1999
(Unaudited) Audited
Current assets
Cash, cash equivalents
and short term investments $ 497,541 $ 402,472
Accounts receivable, net 96,266 73,409
Inventories 97,580 52,036
Advances for wafer purchases 41,854 59,450
Deferred income taxes
and other current assets 124,184 70,342
------- -------
Total current assets 857,425 657,709
Property, plant and equipment, net 198,197 101,705
Long-term investments 196,710 94,002
Restricted investments - 34,358
Investment in joint venture 103,210 91,057
Advances for wafer purchases - 36,694
Developed technology and other assets 35,395 54,723
----------- -----------
Total assets $ 1,390,937 $ 1,070,248
Current liabilities
Accounts payable and
accrued liabilities $ 99,863 $ 81,488
Deferred revenue on
shipments to distributors 73,047 85,709
---------- -----------
Total current liabilities 172,910 167,197
Deferred tax liabilities 23,956 23,733
Stockholders' equity
Common stock and
additional paid-in capital 425,359 294,793
Retained earnings 783,153 607,060
Treasury stock, at cost - (5,112)
Accumulated other
comprehensive income (14,441) (17,423)
--------- --------
SORRY wg. des schlechten Zeilenumbruches, aber ich kriege das nicht besser hin (weiß jemand wie das geht ?)
Fazit:
Aktuelle XLNX an NASDAQ wieder +5% = 47,81 US$ = 49,25 E
Da geht nach der lt. Pattern-Recognition fälligen Konsolidierung jetzt wieder die Post.
Laut Merryl Linch ist das nächste Kursziel bei 55-60 $ zu sehen, wobei bei weiter explodierendem Handymarkt die nächsten Kursziele exorbitant seien werden. Immerhin ist XLNX DER MARKFÜHRER bei PLD-Chips weltweit.
CHECKIT
