Xilinx Reports First Quarter Fiscal Year 2021 Results

“Our fiscal Q1 revenue was well above the initial guidance despite ongoing business challenges from COVID-19 and global trade issues,” said Xilinx president and CEO Victor Peng. “Results were driven by strength in the Data Center Group (DCG), Wired and Wireless Group (WWG), and the Industrials market, offsetting expected headwinds in consumer-oriented end markets, including Automotive and Broadcast. The outperformance was due to a combination of strength in multiple end markets, as well as some order acceleration driven by recent additional U.S. government trade restrictions on sales of certain Xilinx products to some customers based, or with operations, in China.”

“Our diversified end markets remain a key strength, and our business continues to perform better than expected even after our revised guidance,” said Xilinx CFO Brice Hill. “This strength is reflected in our results for the first quarter as well as our improved outlook for the fiscal second quarter. We continue to be well positioned to capitalize on opportunities across all our end markets.”

Net Revenues by Geography:

 

 

 

 

 

 

 

Percentages

 

Growth Rates

 

Q1

Q4

Q1

 

 

 

 

FY2021

FY2020

FY2020

 

Q-T-Q

Y-T-Y

North America

26%

37%

23%

 

-33%

-6%

Asia Pacific

54%

37%

51%

 

42%

-9%

Europe

13%

18%

18%

 

-33%

-39%

Japan

7%

8%

8%

 

-11%

-18%

 

 

 

 

 

 

 

Net Revenues by End Market:

 

 

 

 

 

 

 

Percentages

 

Growth Rates

 

Q1

Q4

Q1

 

 

 

 

FY2021

FY2020

FY2020

 

Q-T-Q

Y-T-Y

A&D, Industrial and TME

45%

50%

39%

 

-13%

-2%

Automotive, Broadcast and Consumer

12%

16%

15%

 

-24%

-29%

Wired and Wireless Group

32%

24%

41%

 

27%

-33%

Data Center Group

12%

10%

5%

 

10%

104%

Channel

-1%

0%

0%

 

NM

NM

 

 

 

 

 

 

 

Net Revenues by Product:

 

 

 

 

 

 

 

Percentages

 

Growth Rates

 

Q1

Q4

Q1

 

 

 

 

FY2021

FY2020

FY2020

 

Q-T-Q

Y-T-Y

Advanced Products

68%

70%

69%

 

-7%

-16%

Core Products

32%

30%

31%

 

2%

-12%

Products are classified as follows:

Advanced Products: Alveo and related products, 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)

 

 

Q1

Q4

Q1

 

FY2021

FY2020

FY2020

 

 

 

 

Annual Return on Equity (%) (1)

26

31

38

Operating Cash Flow

$245

$345

$298

Depreciation Expense (including software amortization)

$32

$29

$24

Capital Expenditures (including software)

$15

$32

$29

Free Cash Flow (2)

$230

$313

$269

Inventory Days (internal)

114

122

107

Revenue Turns (%)

31

46

24

(1)

Return on Equity = Trailing twelve months GAAP net income / average stockholders’ equity

(2)

Free Cash Flow = Operating Cash Flow - Capital Expenditures (including software)


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