Wednesday, April 24, 2019

UPDATED—Xilinx Releases Q4 and Year End Financials (XLNX)

UPDATE II "Xilinx Earnings Miss Wall Street's Target, Stock Tanks Late" (XLNX)

UPDATE I: No longer muted  down $16.39 (-11.73%) at $123.33

Original post
Initial response from the stock: muted.  Up $1.12 (0.8%) at $140.84.
More to come.

From the company:

Xilinx Reports Record Revenues Exceeding $3 Billion For Fiscal 2019
Fiscal fourth quarter revenues up 30% year over year
Apr 24, 2019, 16:20 ET
SAN JOSE, Calif., April 24, 2019 /PRNewswire/ -- Xilinx, Inc. (Nasdaq: XLNX) today announced record revenues of $3.06 billion for fiscal year 2019, up 24% from the prior fiscal year. Revenues were $828 million for the fourth quarter of fiscal year 2019, up 4% from the prior quarter and up 30% year over year.

GAAP net income for fiscal year 2019 was $890 million, or $3.47 per diluted share.  Non-GAAP net income for fiscal year 2019 was $892 million, or $3.48 per diluted share. GAAP net income for the March quarter was $245 million, or $0.95 per diluted share.  Non-GAAP net income for the March quarter was $242 million, or $0.94 per diluted share.

The Xilinx Board of Directors declared a quarterly cash dividend of $0.37 per outstanding share of common stock payable on June 3, 2019 to all stockholders of record at the close of business on May 16, 2019.

Additional fourth quarter of fiscal year 2019 comparisons are provided in the charts below. Due to the adoption of the new revenue recognition standard in the first quarter of fiscal year 2019, all 2018 results have been restated to conform with the new standard.

Q4 2019 Financial Highlights
(In millions, except EPS)     





GAAP











Q4
Q3
Q4





FY 2019
FY 2019
FY 2018
Q-T-Q
Y-T-Y
Net Revenues*
$828
$800
$638
4%
30%
Operating income
$250
$258
$163
-3%
53%
Net income
$245
$239
$145
2%
68%
Diluted earnings per share
$0.95
$0.93
$0.56
2%
70%











Non-GAAP











Q4
Q3
Q4





FY 2019
FY 2019
FY 2018
Q-T-Q
Y-T-Y
Net Revenues*
$828
$800
$638
4%
30%
Operating income
$259
$263
$197
-2%
31%
Net income
$242
$237
$181
2%
34%
Diluted earnings per share
$0.94
$0.92
$0.70
2%
34%

* No adjustment between GAAP and Non-GAAP
"Fiscal year 2019 was truly an exceptional year for Xilinx. For the year, we exceeded $3 billion in annual revenues for the first time and posted 24% growth from last year, driven by Advanced Product revenues which grew 40% year over year.  In addition, we demonstrated strong profitability by posting over 30% growth in both non-GAAP operating income and non-GAAP diluted earnings per share. We are executing to our strategy and focusing on growth across our portfolio as we continue our transformation to a platform company," said Victor Peng, president and chief executive officer, Xilinx....
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