SAN JOSE, Calif., April 22 /PRNewswire-FirstCall/ -- Xilinx, Inc. (NASDAQ: XLNX) today announced fiscal 2009 sales of $1.83 billion, down 1% compared with $1.84 billion in fiscal 2008. Net income increased 0.4% to $375.6 million, or $1.36 per diluted share, in fiscal 2009 versus net income of $374.0 million, or $1.25 per diluted share, in the prior fiscal year.
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Fourth quarter sales were $395.0 million, down 14% sequentially and down 17% from the fourth quarter of the prior fiscal year. Fourth quarter net income was $70.5 million, or $0.26 per diluted share, including a $20.9 million pre-tax gain on the early extinguishment of convertible debentures and a $1.0 million pre-tax impairment charge on investments. Collectively, these income and expense items represented approximately $0.06 per diluted share after tax.
The Xilinx Board of Directors declared a quarterly cash dividend of $0.14 per outstanding share of common stock, payable on June 3, 2009 to all stockholders of record at the close of business on May 13, 2009.
Additional fourth quarter comparisons are represented in the charts below:
GAAP Results
(In millions, except EPS)
Growth Rates
Q4 FY 2009 Q3 FY 2009 Q4 FY 2008 Q-T-Q Y-T-Y
---------- ---------- ---------- ----- -----
Net revenues $395.0 $458.4 $475.8 -14% -17%
Operating income $78.3 $119.6 $117.0 -35% -33%
Net income $70.5 $139.4 $96.5 -49% -27%
Diluted earnings per
share $0.26 $0.51 $0.34 -49% -24%
March quarter sales declined 14% sequentially with sales from all geographies and end markets declining as expected. Xilinx operating expenses declined 4% sequentially, which was more than expected as a result of continued expense controls.
"Current economic conditions remain challenging for the semiconductor industry and Xilinx is no exception," said Moshe Gavrielov, Xilinx President and Chief Executive Officer. "However, strong 65-nm design win activity coupled with increased participation in end markets such as next generation wireless communications and defense have enabled Xilinx to outperform the semiconductor industry throughout the recent economic downturn."
Net Revenues by Geography:
Percentages Growth Rates
Q4 Q3 Q4
FY 2009 FY 2009 FY 2008 Q-T-Q Y-T-Y
------- ------- ------- ----- -----
North America 35% 34% 38% -11% -23%
Asia Pacific 35% 33% 28% -11% 1%
Europe 22% 22% 23% -12% -21%
Japan 8% 11% 11% -34% -35%
Net Revenues by End Market:
Percentages Growth Rates
Q4 Q3 Q4
FY 2009 FY 2009 FY 2008 Q-T-Q Y-T-Y
------- ------- ------- ----- -----
Communications 47% 44% 42% -7% -6%
Industrial & Other 32% 33% 33% -18% -20%
Consumer &
Automotive 14% 16% 17% -27% -33%
Data Processing 7% 7% 8% -5% -29%
Net Revenues by Product*:
Percentages Growth Rates
Q4 Q3 Q4
FY 2009 FY 2009 FY 2008 Q-T-Q Y-T-Y
------- ------- ------- ----- -----
New 52% 48% 38% -6% 14%
Mainstream 33% 36% 42% -22% -35%
Base 10% 11% 14% -20% -43%
Support 5% 5% 6% -10% -27%
*Products are classified as follows:
New Products: Virtex(R)-5, Virtex-4, Spartan(R)-3, and CoolRunner(TM)-II
products
Mainstream Products: Virtex-II, Spartan-II, CoolRunner and Virtex-E
products
Base Products: Virtex, Spartan, XC4000 and XC9500 products
Support Products: Configuration solutions, HardWire, Software &
Support/Services
