Delaware | 000-18548 | 77-0188631 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
2100 Logic Drive, San Jose, California | 95124 | |||
(Address of principal executive offices) | (Zip Code) |
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
(d) | Exhibits |
Exhibit No. | Description | ||
99.1 | Press release of Xilinx, Inc. dated July 18, 2012 |
XILINX, INC. | ||||||
Date: July 18, 2012 | By: | /s/ Jon A. Olson | ||||
Jon A. Olson | ||||||
Senior Vice President, Finance and Chief Financial Officer |
Exhibit No. | Description | ||
99.1 | Press release of Xilinx, Inc. dated July 18, 2012 |
Growth Rates | ||||||||||||||||||
Q1 FY 2013 | Q4 FY 2012 | Q1 FY 2012 | Q-T-Q | Y-T-Y | ||||||||||||||
Net revenues | $ | 582.8 | $ | 559.0 | $ | 615.5 | 4 | % | (5 | )% | ||||||||
Operating income | $ | 164.6 | $ | 147.5 | $ | 188.3 | 12 | % | (13 | )% | ||||||||
Net income | $ | 129.8 | $ | 122.4 | $ | 154.4 | 6 | % | (16 | )% | ||||||||
Diluted earnings per share | $ | 0.47 | $ | 0.44 | $ | 0.56 | 7 | % | (16 | )% |
Percentages | Growth Rates | ||||||||||||||
Q1 FY 2013 | Q4 FY 2012 | Q1 FY 2012 | Q-T-Q | Y-T-Y | |||||||||||
North America | 30 | % | 32 | % | 30 | % | (4 | )% | (5 | )% | |||||
Asia Pacific | 35 | % | 31 | % | 35 | % | 16 | % | (6 | )% | |||||
Europe | 26 | % | 27 | % | 26 | % | 2 | % | (5 | )% | |||||
Japan | 9 | % | 10 | % | 9 | % | 1 | % | (5 | )% |
Percentages | Growth Rates | ||||||||||||||
Q1 FY 2013 | Q4 FY 2012 | Q1 FY 2012 | Q-T-Q | Y-T-Y | |||||||||||
Communications & Data Center | 45 | % | 43 | % | 46 | % | 8 | % | (9 | )% | |||||
Industrial, Aerospace & Defense | 34 | % | 37 | % | 34 | % | (5 | )% | (6 | )% | |||||
Broadcast, Consumer & Automotive | 16 | % | 15 | % | 14 | % | 12 | % | 14 | % | |||||
Other | 5 | % | 5 | % | 6 | % | 11 | % | (19 | )% |
Percentages | Growth Rates | ||||||||||||||
Q1 FY 2013 | Q4 FY 2012 | Q1 FY 2012 | Q-T-Q | Y-T-Y | |||||||||||
New | 17 | % | 13 | % | 9 | % | 31 | % | 78 | % | |||||
Mainstream | 43 | % | 44 | % | 49 | % | 4 | % | (16 | )% | |||||
Base | 36 | % | 39 | % | 37 | % | (5 | )% | (10 | )% | |||||
Support | 4 | % | 4 | % | 5 | % | 10 | % | (19 | )% |
Q1 FY 2013 | Q4 FY 2012 | Q1 FY 2012 | ||||||||||
Annual Return on Equity (%)* | 19 | 21 | 25 | |||||||||
Operating Cash Flow | $ | 163 | $ | 208 | $ | 238 | ||||||
Depreciation Expense | $ | 15 | $ | 15 | $ | 14 | ||||||
Capital Expenditures | $ | 8 | $ | 20 | $ | 14 | ||||||
Combined Inventory Days | 99 | 110 | 117 | |||||||||
Revenue Turns (%) | 55 | 57 | 57 |
* | Return on equity calculation: Annualized net income/average stockholders’ equity |
• | Xilinx extended its 28-nm leadership by announcing initial shipments of the Virtex-7 H580T FPGA, the world's first 3D heterogeneous all programmable product. Virtex-7 HT devices use Xilinx's stacked silicon interconnect (SSI) technology to deliver the industry's highest bandwidth FPGAs, featuring up to sixteen 28 Gbps and seventy-two 13.1 Gbps transceivers, making them the only single-chip solutions for addressing key Nx100G and 400G line card applications and functions. |
• | Xilinx announced first shipments of its Artix™-7 FPGA family. The new devices extend the reach of FPGA technology to applications requiring performance capabilities traditionally served by Virtex-class FPGAs, but the form-factor of small, low-cost programmable devices. Artix-7 devices are securing design wins in a number of applications including portable medical, hand-held radio and small cellular base stations. |
• | New Product sales increased 31% sequentially with strong growth from our 28-nm, 40-nm and 45-nm families. These product families have achieved widespread customer adoption in applications such as: Communications, Data Center, Aerospace and Defense and Broadcast. |
• | Gross margin is expected to be approximately 66%. |
• | Operating expenses are expected to be approximately $220 million, including $2 million of amortization of acquisition-related intangibles. |
• | September quarter tax rate is expected to be approximately 16%. |
Three Months Ended | |||||||||||
June 30, 2012 | March 31, 2012 | July 2, 2011 | |||||||||
Net revenues | $ | 582,784 | $ | 558,973 | $ | 615,463 | |||||
Cost of revenues | 198,411 | 187,577 | 223,132 | ||||||||
Gross margin | 384,373 | 371,396 | 392,331 | ||||||||
Operating expenses: | |||||||||||
Research and development | 121,447 | 115,240 | 106,017 | ||||||||
Selling, general and administrative | 96,201 | 91,261 | 96,396 | ||||||||
Amortization of acquisition-related intangibles | 2,148 | 1,981 | 1,623 | ||||||||
Litigation | — | 15,400 | — | ||||||||
Total operating expenses | 219,796 | 223,882 | 204,036 | ||||||||
Operating income | 164,577 | 147,514 | 188,295 | ||||||||
Interest and other expense, net | 9,672 | 7,126 | 7,811 | ||||||||
Income before income taxes | 154,905 | 140,388 | 180,484 | ||||||||
Provision for income taxes | 25,074 | 17,983 | 26,110 | ||||||||
Net income | $ | 129,831 | $ | 122,405 | $ | 154,374 | |||||
Net income per common share: | |||||||||||
Basic | $ | 0.49 | $ | 0.46 | $ | 0.58 | |||||
Diluted | $ | 0.47 | $ | 0.44 | $ | 0.56 | |||||
Cash dividends per common share | $ | 0.22 | $ | 0.19 | $ | 0.19 | |||||
Shares used in per share calculations: | |||||||||||
Basic | 263,055 | 263,261 | 265,313 | ||||||||
Diluted | 273,820 | 276,166 | 276,077 |
June 30, 2012 | March 31, 2012 * | |||||||
(unaudited) | ||||||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash, cash equivalents and short-term investments | $ | 1,743,127 | $ | 1,917,627 | ||||
Accounts receivable, net | 257,944 | 214,965 | ||||||
Inventories | 193,316 | 204,866 | ||||||
Deferred tax assets and other current assets | 107,793 | 112,851 | ||||||
Total current assets | 2,302,180 | 2,450,309 | ||||||
Net property, plant and equipment | 388,721 | 394,982 | ||||||
Long-term investments | 1,399,684 | 1,209,228 | ||||||
Other assets | 402,646 | 409,603 | ||||||
Total Assets | $ | 4,493,231 | $ | 4,464,122 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
Current liabilities: | ||||||||
Accounts payable and accrued liabilities | $ | 303,460 | $ | 275,774 | ||||
Deferred income on shipments to distributors | 56,700 | 67,002 | ||||||
Total current liabilities | 360,160 | 342,776 | ||||||
Convertible debentures | 911,135 | 906,569 | ||||||
Deferred tax liabilities | 477,622 | 463,045 | ||||||
Other long-term liabilities | 40,234 | 44,047 | ||||||
Stockholders' equity | 2,704,080 | 2,707,685 | ||||||
Total Liabilities and Stockholders' Equity | $ | 4,493,231 | $ | 4,464,122 |
* | Derived from audited financial statements |
Three Months Ended | |||||||||||
June 30, 2012 | March 31, 2012 | July 2, 2011 | |||||||||
SELECTED CASH FLOW INFORMATION: | |||||||||||
Depreciation | $ | 14,603 | $ | 14,702 | $ | 13,698 | |||||
Amortization | 4,267 | 4,327 | 3,710 | ||||||||
Stock-based compensation | 17,608 | 18,909 | 13,767 | ||||||||
Net cash provided by operating activities | 162,946 | 208,491 | 237,694 | ||||||||
Purchases of property, plant and equipment | 8,342 | 19,670 | 13,789 | ||||||||
Payment of dividends to stockholders | 58,066 | 49,991 | 50,456 | ||||||||
Repurchases of common stock | 90,707 | — | 65,654 | ||||||||
Proceeds from issuance of common stock to employees and excess tax benefit | 9,027 | 48,784 | 31,450 | ||||||||
STOCK-BASED COMPENSATION INCLUDED IN: | |||||||||||
Cost of revenues | $ | 1,728 | $ | 1,686 | $ | 1,310 | |||||
Research and development | 8,623 | 9,065 | 6,487 | ||||||||
Selling, general and administrative | 7,257 | 8,158 | 5,970 |