Xilinx Reports Record Revenues In Fiscal First Quarter 2020 

"I am pleased to report that we were able to achieve the mid-point of our revenue guidance for the first fiscal quarter, despite export control restrictions that impacted shipments to one of our customers in China.  We were able to generate $850 million in revenues for the quarter, representing 24% year over year growth.  This clearly demonstrates our focused execution and is strong evidence of the resilience and diversity of our business model.  We also had strong profitability with 27% growth in earnings per share during the same period.  Revenues from our Zynq products grew 68% year over year and represented nearly a quarter of overall revenues, as we continued our transformation to a platform company," said Victor Peng, president and chief executive officer, Xilinx.

Products are classified as follows:

Advanced Products: Alveo, 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.

Product and Financial Highlights – Fiscal First Quarter 2020

• The Advanced Products category increased 53% year over year and constituted approximately 69% of total revenues in the first quarter. Our 16nm node continued its accelerated ramp, with revenues increasing approximately four times year over year, primarily driven by customers in 5G as well as customers in the Data Center and Test, Measurement & Emulation end markets.
• Xilinx extended its Virtex UltraScale+ HBM family by adding 16GB HBM products which are ideally suited for workloads that process large datasets such as adaptable AI inference, database acceleration, data analytics, video transcoding, and security processing. Our 16GB HBM products are currently sampling to customers and are expected to go into production later this year.
• Our Zynq-based revenues grew 68% year over year, indicating significant progress in Xilinx's transformation into a platform company. The Zynq SoC platform, which includes Zynq at 28nm and both MPSoC and RFSoC at 16nm, now represents 23% of total revenues.
• Xilinx announced that it has started shipping its 7nm Versal™ AI Core series and Versal™ Prime series devices to key customers through its early access program. Versal is the industry's first adaptive compute acceleration platform (ACAP), a revolutionary new category of heterogeneous compute devices with capabilities that far exceed those of conventional CPUs, GPUs, and FPGAs.
• During the first quarter, Xilinx entered into an agreement to acquire NGCodec, a powerful, differentiated video encoding technology provider that, when paired with a Xilinx acceleration platform delivers greater visual quality at lower bandwidth requirements than any other solution in the market. Twitch Interactive, an Amazon subsidiary and creator of a leading live streaming video platform, achieved 30X greater performance over CPUs with a Xilinx powered solution using a VP9 encoder IP from NGCodec. The transaction closed in the first week of the second quarter.
• Xilinx repurchased 3.0 million shares at an average price of $105.50 per share and paid dividends of $94 million during the quarter.

Business Outlook – Fiscal Second Quarter 2020  

The following guidance is based on current expectations and estimates, and as indicated, are presented on a GAAP and non-GAAP basis. This guidance is forward-looking and actual results may differ materially, as a result of, among other things, the important factors discussed and referred to at the end of this release.

Xilinx's fiscal second quarter guidance takes into account the estimated impact from the U.S. government's announced export restriction to one of our customers in China. Guidance does not include the financial impact related to the announced acquisition of Solarflare, which is expected to close during the fiscal second quarter.