Xilinx Announces 2014 Fiscal Q2 Sales Increase 3% Sequentially; New Products Drive Growth

SAN JOSE, Calif., Oct. 16, 2013  -- Xilinx, Inc. (Nasdaq: XLNX) today announced second quarter fiscal 2014 sales of $599 million, up 3% from the prior quarter and up 10% from the same quarter of the prior fiscal year.  Second quarter fiscal 2014 net income was $141 million or $0.49 per diluted share; including a contingent litigation expense of $29 million, or $0.09 per diluted share.

The Xilinx Board of Directors announced a quarterly cash dividend of $0.25 per outstanding share of common stock, payable on November 27, 2013 to all stockholders of record at the close of business on November 6, 2013.

Additional second quarter comparisons are represented in the charts below:

(In millions, except EPS)

 Net Revenues by End Market:

 Net Revenues by Product:

Highlights — September Quarter Fiscal 2014

• The Vivado® Design Suite software, first introduced in April, 2012, continues to receive strong customer adoption. Over 70% of our 28-nm designs are now using Vivado. Built from the ground up to address productivity bottlenecks in system-level integration and implementation, the Vivado Design Suite continues to lead the PLD industry in overall productivity, ease-of-use and system level integration capabilities; and remains the industry's only software to support both programmable SOC and 3D designs.
• Sales from Industrial and A&D increased 6% sequentially in the September quarter, representing a record 38% of total sales. Xilinx is benefitting from strong customer adoption of the 28-nm platform as well as the industry-wide shift to smarter vision applications such as intelligent imaging, surveillance and machine vision, which are pervasive throughout Industrial, Automotive, AVB and A&D.
• Xilinx's Zynq-7000 All Programmable SoC family continues to gain broad-based customer adoption. Initially targeting longer time-to-revenue markets such as Automotive and Industrial, the Zynq-7000 family is now participating in approximately 40% of wireless designs and is rapidly gaining traction in data center applications. Xilinx remains the only PLD Company generating material sales from a programmable SoC product.

Business Outlook — December Quarter Fiscal 2014 

• Sales are expected to be up 2% to down 2% sequentially.
• Gross margin is expected to be approximately 69%.
• Operating expenses are expected to be approximately $225 million, including $2 million of amortization of acquisition-related intangibles.
• Other income and expenses are expected to be a net expense of approximately $9 million.
• Fully diluted share count is expected to be approximately 291 million.
• December quarter tax rate is expected to be approximately 13%.

Financial Tables

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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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