Xilinx Announces Q3 Fiscal 2016 Results; Strong New Product Growth Drives 7% Sequential Sales Increase

SAN JOSE, Calif., Jan. 20, 2016 /PRNewswire/ -- Xilinx, Inc. (Nasdaq: XLNX) today announced third quarter fiscal 2016 sales of $566 million, up 7% from the prior quarter and down 5% from the same quarter of the prior fiscal year. Third quarter fiscal 2016 net income was $131 million, or $0.49 per diluted share.

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The Xilinx Board of Directors announced a quarterly cash dividend of $0.31 per outstanding share of common stock, payable on March 16, 2016 to all stockholders of record at the close of business on March 2, 2016.

Additional third quarter comparisons are set forth in the charts below:

"New product sales were exceptionally strong during the quarter increasing 18% sequentially, enabling Xilinx to reach the high-end of our sales guidance. Both our 7-series and UltraScale families reached new sales records during the quarter, driven by a very broad base of end markets," said Moshe Gavrielov, Xilinx President and Chief Executive Officer. "During the quarter we continued to execute on the delivery of our next-generation UltraScale+ family by launching public access development support for these families. This closely follows the first shipment of the Zynq UltraScale+ MPSoc last quarter, which was ahead of schedule. The capabilities of the UltraScale+ product family, coupled with its first-mover advantage, make it uniquely suited for applications ranging from next generation ADAS and Industrial Internet-of-Things to 5G wireless."

Highlights - December Quarter Fiscal 2016

• After shipping the industry's first 16nm multiprocessor SoC a quarter ahead of schedule, Xilinx announced public access support for the 16nm UltraScale+ families, including the Vivado Design Suite HLx Editions, embedded software development tools, Xilinx Power Estimator and technical documentation for Zynq UltraScale+ MPSoC and Kintex UltraScale+ devices. This announcement marked the industry's first publicly available tools for 16nm devices, enabling broad market adoption.
• Xilinx and IBM announced a strategic collaboration to accelerate data center applications. This collaboration is expected to enable higher performance and energy-efficient data center applications through Xilinx FPGA-enabled workload acceleration on IBM POWER-based systems. This follows the Company's announcement last quarter with Qualcomm Technologies, Inc. Target applications such as machine learning, network functions virtualization (NFV), genomics, high performance computing and big data analytics.
• Xilinx announced the Spartan-7 FPGA family that will deliver I/O intensive devices for cost-sensitive applications. The new family will address connectivity requirements across a breadth of markets including automotive, consumer, industrial IoT, data center, wired and wireless communications, and portable medical solutions.

Business Outlook - March Quarter Fiscal 2016

• Sales are expected to be approximately flat sequentially.
• Gross margin is expected to be 68-69%.
• Operating expenses are expected to be approximately $220 million including $1 million of amortization of acquisition-related intangibles.
• Other income and expenses are expected to be a net expense of approximately $6 million.
• Fully diluted share count is expected to be approximately 267 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 December 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 98854132. 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 of fiscal 2016. 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, costs and liabilities associated with current and future litigation, 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, CoolRunner, Kintex, Spartan, Virtex, Zynq, and Vivado, are trademarks of Xilinx in the United States and other countries. All other trademarks are the property of their respective owners.

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Investor Relations Contact:Lori Owen
Xilinx, Inc.
(408) 879-6911
[email protected]

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