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    Xilinx Reports Fiscal Fourth Quarter and Fiscal Year 2021 Results

    5/4/21 4:20:00 PM ET
    $XLNX
    Semiconductors
    Technology
    Get the next $XLNX alert in real time by email
    • Record revenue of $851 million in the quarter; fiscal 2021 revenue of $3.15 billion
    • Data Center Group (DCG) revenue in the quarter increased 28% sequentially, and fiscal 2021 revenue increased 20% over the prior year
    • Wired and Wireless Group (WWG) revenue in the quarter increased 13% sequentially, driven by strength in Wireless with multiple regions deploying 5G, partially offset by weakness in Wired
    • Aerospace & Defense, Industrial and Test, Measurement & Emulation (AIT) revenue in the quarter declined 2% sequentially, with strong Industrial end market performance offset by an expected decline in TME and softness in Aerospace & Defense sales
    • Automotive, Broadcast and Consumer (ABC) revenue in the quarter declined 1% sequentially, with a record quarter in the Automotive end market offsetting seasonal declines in Broadcast and Consumer end markets
    • Fiscal fourth quarter free cash flow of $227 million, representing 27% of revenue; fiscal 2021 free cash flow of $1.04 billion, or 33% of revenue

     

    Xilinx, Inc. (NASDAQ:XLNX), the leader in adaptive computing, today announced record revenues of $851 million for the fiscal fourth quarter, up 6% over the previous quarter and an increase of 13% year over year. Fiscal 2021 revenues were $3.15 billion, largely flat from the prior fiscal year.

    GAAP net income for the fiscal fourth quarter was $188 million, or $0.75 per diluted share. Non-GAAP net income for the quarter was $204 million, or $0.82 per diluted share. GAAP net income for fiscal year 2021 was $647 million, or $2.62 per diluted share. Non-GAAP net income for fiscal year 2021 was $762 million, or $3.08 per diluted share.

    Additional fourth quarter of fiscal year 2021 comparisons are provided in the charts below.

    Q4 Fiscal 2021 Financial Highlights

    (In millions, except EPS)

     

     

    GAAP

     

     

     

     

     

     

     

     

    Q4

    Q3

    Q4

     

     

     

     

    FY2021

    FY2021

    FY2020

     

    Q-T-Q

    Y-T-Y

    Net revenues*

    $851

    $803

    $756

     

    6%

    13%

    Gross margin

    $570

    $547

    $528

     

    4%

    8%

    Operating income

    $200

    $172

    $178

     

    16%

    12%

    Net income

    $188

    $171

    $162

     

    10%

    16%

    Diluted earnings per share

    $0.75

    $0.69

    $0.65

     

    9%

    15%

     

     

     

     

     

     

     

     

    Non-GAAP

     

     

     

     

     

     

     

     

    Q4

    Q3

    Q4

     

     

     

     

    FY2021

    FY2021

    FY2020

     

    Q-T-Q

    Y-T-Y

    Net revenues*

    $851

    $803

    $756

     

    6%

    13%

    Gross margin

    $579

    $554

    $535

     

    5%

    8%

    Operating income

    $228

    $201

    $218

     

    13%

    4%

    Net income

    $204

    $194

    $193

     

    5%

    5%

    Diluted earnings per share

    $0.82

    $0.78

    $0.78

     

    5%

    5%

     

     

    * No adjustment between GAAP and Non-GAAP

    Note: Q4 FY2021 consisted of 13 weeks; Q3 FY2021 consisted of 14 weeks; Q4 FY2020 consisted of 13 weeks

    "We are pleased with our fourth quarter results as we delivered record revenues and double-digit year-over-year growth in the midst of a challenging supply chain environment," said Victor Peng, Xilinx president and CEO. "Xilinx saw further improvement in demand across a majority of our diversified end markets with key strength in our Wireless, Data Center and Automotive markets, the pillars of our growth strategy. Our teams have executed well and we remain focused on continuing to meet customers' critical needs.

    "Our investment and strong execution toward our platform strategy are paying off as we are now in full production shipments of our 7nm Versal series, which is the culmination of a multi-year effort and a long-term growth driver for Xilinx. We also introduced new platforms for edge compute including Kria, an adaptive system-on-module (SOM) platform, as well as a cost-optimized UltraScale+ portfolio, to enable and accelerate innovation and AI at the edge."

    "Record Q4 revenues were driven by strength in Wireless and Data Center markets, as well as record quarters for our Industrial and Automotive end markets, which resulted in 6% sequential and 13% year-over-year growth," said Brice Hill, Xilinx CFO. "Advanced Products also grew 6% sequentially and represented 73% of total revenue. Top line performance drove fourth quarter free cash flows of $227 million, or 27% of revenue, reflecting our efficient financial model."

    Net Revenues by Geography:

     

     

     

     

     

     

     

    Percentages

     

    Growth Rates

     

    Q4

    Q3

    Q4

     

     

     

     

    FY2021

    FY2021

    FY2020

     

    Q-T-Q

    Y-T-Y

    North America

    27%

    30%

    37%

     

    -1%

    -16%

    Asia Pacific

    49%

    44%

    37%

     

    16%

    49%

    Europe

    16%

    19%

    18%

     

    -12%

    -3%

    Japan

    8%

    7%

    8%

     

    18%

    13%

     

     

     

     

     

     

     

    Net Revenues by End Market:

     

     

     

     

     

     

     

    Percentages

     

    Growth Rates

     

    Q4

    Q3

    Q4

     

     

     

     

    FY2021

    FY2021

    FY2020

     

    Q-T-Q

    Y-T-Y

    A&D, Industrial and TME

    41%

    45%

    50%

     

    -2%

    -6%

    Automotive, Broadcast and Consumer

    18%

    19%

    16%

     

    -1%

    30%

    Wired and Wireless Group

    31%

    29%

    24%

     

    13%

    43%

    Data Center Group

    9%

    7%

    10%

     

    28%

    -5%

    Channel

    1%

    0%

    0%

     

    NM

    NM

     

     

     

     

     

     

     

    Net Revenues by Product:

     

     

     

     

     

     

     

    Percentages

     

    Growth Rates

     

    Q4

    Q3

    Q4

     

     

     

     

    FY2021

    FY2021

    FY2020

     

    Q-T-Q

    Y-T-Y

    Advanced Products

    73%

    72%

    70%

     

    6%

    16%

    Core Products

    27%

    28%

    30%

     

    6%

    3%

    Products are classified as follows:

    Advanced Products:
    Alveo and related products, Versal, UltraScale+, UltraScale and 7-series products.

    Core Products: Virtex-6, Spartan-6, Virtex‐5, CoolRunner‐II, Virtex-4, Virtex-II, Spartan-3, Spartan-2, XC9500 products, configuration solutions, software & support/services.

    Key Statistics:

    (Dollars in Millions)

     

     

    Q4

    Q3

    Q4

     

    FY2021

    FY2021

    FY2020

     

     

     

     

    Operating Cash Flow

    $240

    $360

    $345

    Depreciation Expense (including software amortization)

    $30

    $31

    $29

    Capital Expenditures (including software)

    $13

    $6

    $32

    Free Cash Flow (1)

    $227

    $354

    $313

    Inventory Days (internal)

    101

    115

    122

    Revenue Turns (%)

    29

    34

    46

     

    (1) Free Cash Flow = Operating Cash Flow - Capital Expenditures (including software)

    Product and Financial Highlights - Fiscal Year 2021

    • Data Center Group (DCG) delivered 20% annual revenue growth over fiscal 2020 driven by continuing adoption with hyperscale customers across compute, networking and storage workloads. Xilinx maintains strong engagements with hyperscalers to deliver solutions for AI compute, video acceleration, composable networking and computational storage. We also introduced new products and solutions to power the data center and the edge in fiscal 2021 including new Alveo SmartNICs, real-time server appliances for ultra-high-density video transcoding, the Samsung SmartSSD® Computational Storage Drive, the industry's first adaptable computational storage platform, and the Xilinx App Store
    • Wired and Wireless Group (WWG) revenues were down 14% compared to fiscal 2020 reflecting China trade-related impacts as well as slowdowns related to the COVID-19 pandemic. The Wireless end market recovered in the second half of fiscal 2021 as 5G deployments accelerated in multiple regions across a variety of technologies. Versal is now in production with a Tier-1 OEM to enable beamforming technology in massive MIMO applications, and continues to gain momentum with design wins with multiple OEMs. RFSoC is in deployment with multiple customers and Xilinx has a strong design win pipeline with RFSoC DFE. Recent announcements with Mavenir and Fujitsu, as well as for the T1 Telco Accelerator Card, position Xilinx to support the emerging growth opportunities in O-RAN
    • Aerospace & Defense, Industrial and Test & Measurement (AIT) revenue grew 6% compared to fiscal 2020, driven by strength in Industrial, Scientific & Medical (ISM) and Test, Measurement & Emulation (TME) end markets. Zynq product penetration into applications that have traditionally used ASSPs and ASICs have provided significant expansion of available market opportunities
    • Automotive, Broadcast and Consumer (ABC) markets delivered 1% annual growth despite material impacts from the COVID-19 pandemic. The Automotive end market recovered strongly in the second half of fiscal 2021 with consecutive quarters of record revenue in Q3 and Q4 despite ongoing supply chain challenges. Xilinx platforms continue to be adopted by leading global OEMs and manufacturers for ADAS applications, including Continental for a 4-D imaging radar and Subaru to power its new-generation EyeSight ADAS system
    • Xilinx introduced new solutions for the edge, including the new Kria adaptive system-on-module (SOM) platform for accelerating AI applications at the edge, and a cost-optimized UltraScale+ portfolio, for ultra-compact, high-performance edge compute
    • Strong adoption momentum continues for the Vitis software development platform with over 76,000 downloads and another 23,000 estimated downloads for Vitis AI development environment for accelerating AI inference. In addition, over 20,000 developers have been trained on Xilinx software tools, and more than 1,000 ISV partners have published over 200 applications across all Xilinx powered adaptive platforms including cloud, Alveo and SmartSSD

    Commentary on AMD Transaction

    As announced on October 27, 2020, Advanced Micro Devices, Inc. (AMD) intends to acquire Xilinx in an all-stock transaction valued at $35 billion. Due to the pending acquisition, Xilinx will not hold an earnings conference call or provide forward-looking guidance. Also, pursuant to the terms of the Merger Agreement between the Company and AMD, Xilinx has suspended its quarterly dividend as well as its open market stock repurchase program.

    Non-GAAP Financial Information

    Fiscal year 2021 and fourth quarter 2021 results include financial measures which are not determined in accordance with the United States generally accepted accounting principles (GAAP), as indicated. Non-GAAP measures should not be considered as a substitute for, or superior to, financial measures determined in accordance with GAAP. The presentation of non-GAAP financial measures has been reconciled, in each case, to the most directly comparable GAAP measure, as indicated in the accompanying tables. Xilinx's (the Company) calculation of such non-GAAP measures may not be comparable to similarly-titled measures used by other companies.

    Management uses the non-GAAP financial measures disclosed herein, other than free cash flow, to evaluate the Company's financial results from continuing operations (excluding the impact of acquisitions) and compare to operating performance in past periods. Similarly, Management believes presentation of these non-GAAP measures is useful to investors because it enables investors and analysts to evaluate operating expenses of the Company's core business, excluding the impact of non-core business expenses, such as acquisition-related amortization and non-recurring items, as described below:

    M&A related expenses: These expenses mainly consist of legal, advisory and consulting fees associated with acquisition activities, and also include fees and retention compensation related to the Company's acquisition by AMD. The Company believes these costs do not reflect its current operating performance.

    Amortization of acquisition-related intangibles: Amortization of acquisition-related intangible assets consists of amortization of intangible assets such as developed technology acquired in connection with business combinations. The non-GAAP adjustments exclude these charges to facilitate an evaluation of the Company's current operating performance and comparisons to its past operating performance.

    Income taxes: The Company excludes the income tax effects of non-GAAP adjustments reflected in operating expenses and other income, as detailed above. It also excludes other significant tax effects of post-acquisition tax integration transactions. The Company believes excluding post-acquisition tax integration items will facilitate a comparable evaluation of its current performance to its past performance.

    In addition, free cash flow, which is cash flow from operations adjusted to exclude additions to software, property, plant, and equipment, is used by management when assessing the Company's sources of liquidity, capital resources, and quality of earnings. The Company believes that this non-GAAP financial measure is helpful in understanding the Company's capital requirements and provides an additional means to evaluate the cash flow trends of the Company's business.

    Forward-Looking Statements

    This release contains forward-looking statements, which 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 uncertain events or assumptions also identify forward-looking statements. Such forward-looking statements include, but are not limited to, statements related to our proposed acquisition by AMD, the semiconductor market, the growth and acceptance of our products, expected revenue growth, the demand and growth in the markets we serve, and opportunity for expansion into new markets. Undue reliance should not be placed on such forward-looking statements, 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, among others, the impact of the ongoing COVID-19 pandemic and related mitigation measures (which, in addition to presenting its own risks and uncertainties, may also heighten the other risks and uncertainties faced by our business and decrease our visibility into all aspects of our business); closing of the proposed transaction with AMD on anticipated timing (including the risk that the conditions to the transaction are not satisfied on a timely basis or at all or the failure of the transaction to close for any other reason) and terms (including obtaining the anticipated tax treatment, regulatory approvals, required consents or authorizations); unanticipated difficulties or expenditures relating to the transaction; the response of business partners and retention as a result of the announcement and pendency of the transaction; the diversion of management time on transaction-related matters; customer acceptance of our new products; changing global economic conditions; our dependence on certain customers; trade and export restrictions; the condition and performance 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; our reliance on third parties (including distributors); variability in wafer pricing; costs and liabilities associated with current and future litigation (including litigation relating to the proposed transaction with AMD); our ability to generate cost and operating expense savings in an efficient and timely manner; our ability to realize the goals contemplated by our acquisitions and strategic investments; the impact of current and future legislative and regulatory changes; the impact of new accounting pronouncements and tax laws, including the U.S. Tax Cuts and Jobs Act, and interpretations thereof; and other risk factors described in our most recent Forms 10-Q and 10-K and subsequent filings with the U.S. Securities and Exchange Commission.

    About Xilinx

    Xilinx, Inc. develops highly flexible and adaptive computing platforms that enable rapid innovation across a variety of technologies - from the cloud, to the edge, to the endpoint. Xilinx is the inventor of the FPGA and Adaptive SoCs (including our Adaptive Compute Acceleration Platform, or ACAP), designed to deliver the most dynamic computing technology in the industry. We collaborate with our customers to create scalable, differentiated and intelligent solutions that enable the adaptable, intelligent and connected world of the future. For more information, visit xilinx.com.

    Xilinx, the Xilinx logo, Alveo, Artix, Kintex, Spartan, Versal, Vitis, Virtex, Vivado, Zynq, Kria and other designated brands included herein are trademarks of Xilinx in the United States and/or other countries. All other trademarks are the property of their respective owners.

    XILINX, INC.
    CONSOLIDATED STATEMENTS OF INCOME
    (Unaudited)
    (In thousands, except per share amounts)
    Three Months Ended Twelve Months Ended

    April 3, 2021

    January 2, 2021

    March 28, 2020

    April 3, 2021

    March 28, 2020

    Net revenues

    $

    850,987

     

    $

    803,404

    $

    756,169

    $

    3,147,599

     

    $

    3,162,666

    Cost of revenues:
    Cost of products sold

     

    272,851

     

     

    249,529

     

    221,037

     

    966,604

     

     

    1,025,234

    Amortization of acquisition-related intangibles

     

    7,733

     

     

    6,875

     

    6,697

     

    28,000

     

     

    22,396

    Total cost of revenues

     

    280,584

     

     

    256,404

     

    227,734

     

    994,604

     

     

    1,047,630

    Gross margin

     

    570,403

     

     

    547,000

     

    528,435

     

    2,152,995

     

     

    2,115,036

    Operating expenses:
    Research and development

     

    239,863

     

     

    235,018

     

    214,968

     

    904,639

     

     

    853,589

    Selling, general and administrative

     

    127,872

     

     

    136,701

     

    103,675

     

    483,749

     

     

    432,308

    Amortization of acquisition-related intangibles

     

    2,887

     

     

    2,856

     

    3,401

     

    11,468

     

     

    8,889

    Restructuring charges

     

    -

     

     

    -

     

    28,362

     

    -

     

     

    28,362

    Total operating expenses

     

    370,622

     

     

    374,575

     

    350,406

     

    1,399,856

     

     

    1,323,148

    Operating income

     

    199,781

     

     

    172,425

     

    178,029

     

    753,139

     

     

    791,888

    Interest and other income (expense), net

     

    (4,245

    )

     

    3,709

     

    11,717

     

    (23,461

    )

     

    42,096

    Income before income taxes

     

    195,536

     

     

    176,134

     

    189,746

     

    729,678

     

     

    833,984

    Provision for income taxes

     

    7,652

     

     

    5,162

     

    27,489

     

    83,170

     

     

    41,263

    Net income

    $

    187,884

     

    $

    170,972

    $

    162,257

    $

    646,508

     

    $

    792,721

    Net income per common share:
    Basic

    $

    0.76

     

    $

    0.70

    $

    0.66

    $

    2.65

     

    $

    3.15

    Diluted

    $

    0.75

     

    $

    0.69

    $

    0.65

    $

    2.62

     

    $

    3.11

    Cash dividends per common share

    $

    -

     

    $

    0.38

    $

    0.37

    $

    1.14

     

    $

    1.48

    Shares used in per share calculations:
    Basic

     

    245,774

     

     

    245,145

     

    247,166

     

    244,257

     

     

    251,732

    Diluted

     

    249,030

     

     

    248,148

     

    249,320

     

    247,229

     

     

    254,943

    XILINX, INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (In thousands)

    April 3, 2021

    March 28, 2020*

    (unaudited)
    ASSETS
    Current assets:
    Cash, cash equivalents and short-term investments

    $

    3,078,899

    $

    2,267,216

    Accounts receivable, net

     

    285,214

     

    273,028

    Inventories

     

    311,085

     

    304,340

    Other current assets

     

    71,064

     

    64,557

    Total current assets

     

    3,746,262

     

    2,909,141

    Net property, plant and equipment

     

    345,023

     

    372,574

    Other assets

     

    1,427,916

     

    1,411,619

    Total assets

    $

    5,519,201

    $

    4,693,334

     
     
    LIABILITIES AND STOCKHOLDERS' EQUITY
    Current liabilities:
    Accounts payable and accrued liabilities

    $

    624,555

    $

    586,421

    Current portion of long-term debt

     

    -

     

    499,260

    Total current liabilities

     

    624,555

     

    1,085,681

    Long-term debt

     

    1,492,688

     

    747,110

    Other long-term liabilities

     

    514,997

     

    545,494

    Stockholders' equity

     

    2,886,961

     

    2,315,049

    Total Liabilities and Stockholders' Equity

    $

    5,519,201

    $

    4,693,334

     
    * Fiscal 2020 balances are derived from audited financial statements.
    XILINX, INC.
    SUPPLEMENTAL FINANCIAL INFORMATION
    (Unaudited)
    (In thousands)

    Three Months Ended

    Twelve Months Ended

    April 3, 2021

    January 2, 2021

     

    March 28, 2020

    April 3, 2021

    March 28, 2020

    SELECTED CASH FLOW INFORMATION:
    Depreciation and amortization of software

    $

    29,616

     

    $

    30,818

    $

    28,603

     

    $

    122,432

    $

    97,485

    Amortization - others

     

    16,574

     

     

    17,133

     

    16,282

     

     

    64,082

     

    60,048

    Stock-based compensation

     

    71,077

     

     

    66,331

     

    43,991

     

     

    246,230

     

    186,723

    Net cash provided by operating activities

     

    240,030

     

     

    360,137

     

    345,351

     

     

    1,093,221

     

    1,190,836

    Purchases of property, plant, equipment and software

     

    12,864

     

     

    6,009

     

    32,309

     

     

    49,665

     

    129,289

    Payment of dividends to stockholders

     

    -

     

     

    93,155

     

    91,417

     

     

    278,674

     

    371,793

    Repayment of debt

     

    500,000

     

     

    -

     

    -

     

     

    500,000

     

    -

    Repurchases of common stock

     

    -

     

     

    -

     

    470,733

     

     

    53,682

     

    1,208,917

    Taxes paid related to net share settlement of restricted stock units, net of proceeds from issuance of common stock

     

    (29,400

    )

     

    4,560

     

    (28,082

    )

     

    8,471

     

    27,459

     
    STOCK-BASED COMPENSATION INCLUDED IN:
    Cost of revenues

    $

    3,616

     

    $

    3,465

    $

    1,649

     

    $

    12,765

    $

    10,035

    Research and development

     

    43,564

     

     

    40,228

     

    28,857

     

     

    150,271

     

    114,976

    Selling, general and administrative

     

    23,897

     

     

    22,638

     

    13,313

     

     

    83,194

     

    61,540

    Restructuring charges

     

    -

     

     

    -

     

    172

     

     

    -

     

    172

    XILINX, INC.
    RECONCILIATIONS OF GAAP ACTUALS TO NON-GAAP ACTUALS
    (Unaudited)
    (In thousands, except per share amounts)

    Three Months Ended

    Twelve Months Ended

    April 3, 2021

    January 2, 2021

    March 28, 2020

    April 3, 2021

    March 28, 2020

    GAAP gross margin

    $

    570,403

     

    $

    547,000

     

    $

    528,435

     

    $

    2,152,995

     

    $

    2,115,036

     

    Inventory valuation adjustment

     

    -

     

     

    -

     

     

    -

     

     

    -

     

     

    3,855

     

    Amortization of acquisition-related intangibles

     

    7,733

     

     

    6,875

     

     

    6,697

     

     

    28,000

     

     

    22,396

     

    M&A related expenses

     

    842

     

     

    114

     

     

    -

     

     

    957

     

     

    -

     

    Non-GAAP gross margin

    $

    578,978

     

    $

    553,989

     

    $

    535,132

     

    $

    2,181,952

     

    $

    2,141,287

     

     
    GAAP operating income

    $

    199,781

     

    $

    172,425

     

    $

    178,029

     

    $

    753,139

     

    $

    791,888

     

    Inventory valuation adjustment

     

    -

     

     

    -

     

     

    -

     

     

    -

     

     

    3,855

     

    Amortization of acquisition-related intangibles

     

    10,620

     

     

    9,731

     

     

    10,098

     

     

    39,468

     

     

    31,285

     

    M&A related expenses

     

    17,220

     

     

    19,150

     

     

    1,798

     

     

    39,440

     

     

    14,190

     

    Restructuring charges

     

    -

     

     

    -

     

     

    28,362

     

     

    -

     

     

    28,362

     

    Non-GAAP operating income

    $

    227,621

     

    $

    201,306

     

    $

    218,287

     

    $

    832,047

     

    $

    869,580

     

     
    GAAP net income

    $

    187,884

     

    $

    170,972

     

    $

    162,257

     

    $

    646,508

     

    $

    792,721

     

    Inventory valuation adjustment

     

    -

     

     

    -

     

     

    -

     

     

    -

     

     

    3,855

     

    Amortization of acquisition-related intangibles

     

    10,620

     

     

    9,731

     

     

    10,098

     

     

    39,468

     

     

    31,285

     

    M&A related expenses

     

    17,220

     

     

    19,150

     

     

    1,798

     

     

    39,440

     

     

    14,190

     

    Restructuring charges

     

    -

     

     

    -

     

     

    28,362

     

     

    -

     

     

    28,362

     

    Income tax effect of intercompany integration transactions

     

    -

     

     

    -

     

     

    -

     

     

    -

     

     

    (1,838

    )

    Income tax effect of tax-related items

     

    (6,776

    )

     

    (528

    )

     

    -

     

     

    49,497

     

     

    -

     

    Income tax effect of non-GAAP adjustments

     

    (5,006

    )

     

    (5,100

    )

     

    (9,137

    )

     

    (13,167

    )

     

    (15,271

    )

    Non-GAAP net income

    $

    203,942

     

    $

    194,225

     

    $

    193,378

     

    $

    761,746

     

    $

    853,304

     

     
    GAAP diluted EPS

    $

    0.75

     

    $

    0.69

     

    $

    0.65

     

    $

    2.62

     

    $

    3.11

     

    Inventory valuation adjustment

     

    -

     

     

    -

     

     

    -

     

     

    -

     

     

    0.02

     

    Amortization of acquisition-related intangibles

     

    0.04

     

     

    0.04

     

     

    0.04

     

     

    0.16

     

     

    0.11

     

    M&A related expenses

     

    0.08

     

     

    0.07

     

     

    0.01

     

     

    0.15

     

     

    0.06

     

    Restructuring charges

     

    -

     

     

    -

     

     

    0.12

     

     

    -

     

     

    0.12

     

    Income tax effect of intercompany integration transactions

     

    -

     

     

    -

     

     

    -

     

     

    -

     

     

    (0.01

    )

    Income tax effect of tax-related items

     

    (0.03

    )

     

    -

     

     

    -

     

     

    0.20

     

     

    -

     

    Income tax effect of non-GAAP adjustments

     

    (0.02

    )

     

    (0.02

    )

     

    (0.04

    )

     

    (0.05

    )

     

    (0.06

    )

    Non-GAAP diluted EPS

    $

    0.82

     

    $

    0.78

     

    $

    0.78

     

    $

    3.08

     

    $

    3.35

     

     
    GAAP cash flow from operations

    $

    240,030

     

    $

    360,137

     

    $

    345,351

     

    $

    1,093,221

     

    $

    1,190,836

     

    Capital expenditures (including software)

     

    (12,864

    )

     

    (6,009

    )

     

    (32,309

    )

     

    (49,665

    )

     

    (129,289

    )

    Free cash flow

    $

    227,166

     

    $

    354,128

     

    $

    313,042

     

    $

    1,043,556

     

    $

    1,061,547

     

    XLNX-F

    Source: Xilinx Newsroom

    Category: Corporate Announcements

    View source version on businesswire.com: https://www.businesswire.com/news/home/20210504006183/en/

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