Xilinx Announces Q3 Fiscal 2013 Results -- Revenue down 6% from previous quarter

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.

XLNX-F

Investor Relations Contact:
Lori Owen
Xilinx, Inc.
(408) 879-6911
Email Contact

 

XILINX, INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

(In thousands, except per share amounts)

 


Three Months Ended


Nine Months Ended


December 29, 2012


September 29, 2012


December 31, 2011


December 29,

2012


December 31,

2011

Net revenues

$                   509,767


$                    543,933


$                   511,091


$                1,636,484


$                1,681,763

Cost of revenues

170,493


187,713


174,805


556,617


598,501

Gross margin

339,274


356,220


336,286


1,079,867


1,083,262

Operating expenses:










Research and development

129,055


113,887


108,245


364,389


320,036

Selling, general and administrative

86,823


91,928


88,934


274,952


274,011

Amortization of acquisition-related intangibles

2,554


2,319


1,982


7,021


5,587

Restructuring charges





3,369

Total operating expenses

218,432


208,134


199,161


646,362


603,003











Operating income

120,842


148,086


137,125


433,505


480,259

Interest and other expense, net

5,149


10,003


7,187


24,824


23,596

Income before income taxes

115,693


138,083


129,938


408,681


456,663

Provision for income taxes

12,045


14,646


2,924


51,765


48,989

Net income

$                   103,648


$                    123,437


$                   127,014


$                   356,916


$                   407,674

Net income per common share:










Basic

$                         0.40


$                          0.47


$                         0.49


$                         1.36


$                         1.54

Diluted

$                         0.38


$                          0.46


$                         0.47


$                         1.31


$                         1.50

Cash dividends per common share

$                         0.22


$                          0.22


$                         0.19


$                         0.66


$                         0.57

Shares used in per share calculations:










Basic

260,690


260,605


261,257


261,723


264,183

Diluted

271,174


270,265


267,884


271,861


271,713


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