Xilinx, Inc. (XLNX ) today announced first quarter fiscal 2011 sales of $594.7 million, up 12% sequentially and up 58% from the first quarter of the prior fiscal year. First quarter fiscal 2011 net income was $158.6 million, or $0.58 per diluted share.
The Xilinx Board of Directors announced a quarterly cash dividend of $0.16 per outstanding share of common stock, payable on September 1, 2010 to all stockholders of record at the close of business on August 11, 2010.
The June quarter marked the third consecutive quarter of record sales for Xilinx. New Product sales were led by strong growth from the Virtex-6 and Virtex-5 FPGA families. These product families are experiencing success in a wide variety of applications including Long Term Evolution (LTE) wireless networks, next generation broadcast video-on-demand systems, high performance computer systems and high resolution imaging systems.
"It was an exceptional quarter on a number of fronts," said Moshe Gavrielov, Xilinx President and Chief Executive Officer. "In addition to record sales, operating income increased 33% sequentially to $208 million, a new milestone for Xilinx. Operating margin of 35% in the June quarter is up from 30% in the prior quarter and up from 15% in the same quarter a year ago. Our improved profitability is a result of robust sales in addition to continued fiscal discipline." Gavrielov continued, "I believe Xilinx is embarking upon an extraordinary new product cycle enabled by the strong design win momentum from our Virtex-6 and Spartan-6 families as well as the recent announcement of our 7 series FPGAs."
Products are classified as follows:
New Products: Virtex-6, Virtex-5, Spartan-6, Spartan-3A and Spartan-3E product families
Mainstream Products: Virtex-4, Spartan-3, Spartan-II and CoolRunner(TM)-II product families
Base Products: Virtex, Virtex-E, Virtex-II, Spartan, XC4000, CoolRunner and XC9500 product families
Support Products: Configuration products, HardWire, Software & Support/Services
Highlights - First Quarter Fiscal 2011
Xilinx introduced its 7 series FPGAs, the industry’s first FPGAs that reduce total power consumption by 50% and offer industry-leading capacity of up to two million logic cells on the only unified architecture that scales across low-cost to ultra high-end families. The new 28nm Artix(TM)-7, Kintex(TM)-7 and Virtex(TM)-7 families combine breakthrough innovations in power efficiency, system performance and design productivity to make programmable logic more accessible to a broader community of users, end markets and applications.
Business Outlook - September Quarter Fiscal 2011
Sales are expected to be up 3% to 7% sequentially.
Gross margin is expected to be approximately 65% plus or minus one percentage point.
Operating expenses are expected to be approximately $185 million.
Other income and expense is expected to be a net expense of approximately $4 million.
Fully diluted share count is expected to be approximately 264 million.
September quarter tax rate is expected to be approximately 22%.
http://www.xilinx.com/
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