Xilinx reports third consecutive quarter of record sales

SAN JOSE, USA: Xilinx Inc. announced first quarter fiscal 2011 sales of $594.7 million, up 12 percent sequentially and up 58 percent 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 CEO. "In addition to record sales, operating income increased 33 percent sequentially to $208 million, a new milestone for Xilinx. Operating margin of 35 percent in the June quarter is up from 30 percent in the prior quarter and up from 15 percent 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."