Xilinx Announces 2014 Fiscal Q1 Results; Sales Increase 9%

Xilinx Announces 2014 Fiscal Q1 Results; Sales Increase 9% Sequentially

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.

#1333F

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
		June 29,	March 30,	June 30,
		2013	2013	2012
Net revenues		$ 578,955	$ 532,168	$ 582,784
Cost of revenues		179,700	180,589	198,411
Gross margin		399,255	351,579	384,373
Operating expenses:
Research and development		111,541	111,133	121,447
Selling, general and administrative		92,387	90,732	96,201
Amortization of acquisition-related intangibles		2,418	2,487	2,148
	Total operating expenses	206,346	204,352	219,796

Operating income		192,909	147,227	164,577
Interest and other expense, net		9,930	8,902	9,672
Income before income taxes		182,979	138,325	154,905
Provision for income taxes		25,956	7,705	25,074
Net income		$ 157,023	$ 130,620	$ 129,831

Net income per common share:
Basic		$ 0.59	$ 0.50	$ 0.49
Diluted		$ 0.56	$ 0.47	$ 0.47

Cash dividends per common share		$ 0.25	$ 0.22	$ 0.22
Shares used in per share calculations:
Basic		264,153	263,035	263,055
Diluted		280,291	277,090	273,820

XILINX, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)

	June 29, 2013	March 30, 2013 *
	(Unaudited)

ASSETS
Current assets:
Cash, cash equivalents and short-term investments	$ 1,841,780	$ 1,714,745
Accounts receivable, net	268,153	229,175
Inventories	186,800	201,250
Deferred tax assets and other current assets	57,851	152,469
Total current assets	2,354,584	2,297,639
Net property, plant and equipment	362,956	365,687
Long-term investments	1,634,031	1,651,033
Other assets	409,352	415,092
Total Assets	$ 4,760,923	$ 4,729,451

LIABILITIES, TEMPORARY EQUITY AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable and accrued liabilities	$ 271,360	$ 333,379
Deferred income on shipments to distributors	57,938	53,358
Deferred tax liabilities	146,397	51
Convertible debentures	926,781	-
Total current liabilities	1,402,476	386,788
Convertible debentures	-	922,666
Deferred tax liabilities	228,219	415,442
Other long-term liabilities	40,376	41,259
Temporary equity	362,854	-
Stockholders' equity	2,726,998	2,963,296
Total liabilities, temporary equity and stockholders' equity	$ 4,760,923	$ 4,729,451

* Derived from audited financial statements

XILINX, INC.
SUPPLEMENTAL FINANCIAL INFORMATION
(Unaudited)
(In thousands)
	Three Months Ended
	June 29,	March 30,	June 30,
	2013	2013	2012

SELECTED CASH FLOW INFORMATION:
Depreciation	$ 14,033	$ 13,893	$ 14,603
Amortization	4,885	4,355	4,267
Stock-based compensation	20,954	21,246	17,608
Net cash provided by operating activities	144,209	173,653	162,946
Purchases of property, plant and equipment	11,301	6,212	8,342
Payment of dividends to stockholders	66,007	57,822	58,066
Repurchases of common stock	-	-	90,707
Proceeds from issuance of common stock to employees and excess tax benefit	33,957	59,671	9,027

STOCK-BASED COMPENSATION INCLUDED IN:
Cost of revenues	$ 1,804	$ 1,638	$ 1,728
Research and development	10,219	10,256	8,623
Selling, general and administrative	8,931	9,352	7,257

SOURCE Xilinx, Inc.

Contact:

Xilinx, Inc. Web: http://www.xilinx.com

« Previous Page 1 | 2 | 3