Sony Pixel Power calrec Sony

Xilinx Updates Financial Guidance for First Quarter Fiscal 2021

29/06/2020

Xilinx Updates Financial Guidance for First Quarter Fiscal 2021 Jun 29, 2020

SAN JOSE, Calif.--(BUSINESS WIRE)-- Xilinx, Inc. (NASDAQ: XLNX), the leader in adaptive and intelligent computing, today updated the range of its prior guidance for its first quarter of fiscal 2021 ended June 27, 2020, as set forth below:

Non-GAAP

GAAP

Adjustments

Non-GAAP

Revenues

$720M - $734M

$720M - $734M

Gross Margin

67% - 68%

1% (1)

68% - 69%

Operating Expenses

$314M - $320M

$4M (2)

$310M - $316M

Other Expense

$11M

$11M

Tax Rate

45%-47%

34% (3)

11%-13%

Notes regarding Non-GAAP Adjustments:

(1) Amortization of acquisition-related intangibles

(2) M&A related expenses and amortization of acquisition-related intangibles

(3) Income tax effect of Non-GAAP adjustments, excluding a one-time charge related to impacts from a third-party legal proceeding related to cost sharing arrangements (see Non-GAAP Financial Information - Income Taxes for additional detail)

While we have seen some COVID-19 related impacts during the June quarter, our business has generally performed well overall, with stronger than expected revenues in our Wired and Wireless Group and Data Center Group more than offsetting weaker than expected revenues in our consumer-oriented end markets, including automotive, broadcast, and consumer. A portion of the revenue strength in the quarter was due to customers accelerating orders following recent changes to the U.S. government restrictions on sales of certain of our products to international customers, said Victor Peng, Xilinx's President and Chief Executive Officer.

Given our preliminary assessment of the expected financial results in the June quarter, we are raising the midpoint for revenue and narrowing our overall guidance ranges. Furthermore, we are updating our expected tax rate for the June quarter to include the prior and current year potential impacts of the Altera Corp. v. Commissioner tax case, a third-party legal proceeding concerning related-party R&D cost sharing arrangements and stock-based compensation. The potential impact for prior years is approximately $57 million while the impact to the fiscal 2021 expected tax rate is an additional 1%-2%.

We will continue to closely monitor the business environment, which remains dynamic. Based on our current assessment, we expect our fiscal second quarter revenues to be, approximately, in line with the fiscal first quarter.

There will be no conference call associated with this press release. Xilinx will report results for the fiscal first quarter and provide more detailed estimates for its fiscal second quarter during its next earnings conference call scheduled for July 30, 2020.

Non-GAAP Financial Information

First quarter of fiscal 2021 business outlook 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. The Company's 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 to evaluate the Companys 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 Companys core business, excluding the impact of non-core business expenses such as acquisition-related amortization and non-recurring items.

M&A related expenses: These expenses mainly consist of legal and consulting fees associated with acquisition activities. The Company believes these costs do not reflect its current operating performance. Consequently, 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.

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, including a one-time charge of approximately $57 million for the fiscal 2017 to fiscal 2020 impact of the Supreme Court's June 22, 2020, decision not to hear the Altera Corp. v. Commissioner ( Altera ) case. Xilinx is not a party to the proceedings but is subject to the findings of the case. The Altera tax case concerns related party R&D cost sharing arrangements and whether stock-based compensation should be included in the pool of costs to be shared. With the Supreme Court's decision not to hear the Altera case, the decision of the 9th Circuit (which would apply to taxpayers such as Xilinx) that stock-based compensation is to be included in the pool of costs to be shared remains in place. Despite the decision in Altera, the law remains unsettled and the Company will continue to monitor developments and the potential effect on its consolidated financial statements and tax filings. Please see Note 14. Income Taxes to our financial statements in o
LINK: https://www.xilinx.com/news/press/2020/xilinx-updates-financial-guidan...
See more stories from xilink

Most recent headlines

05/01/2027

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be demoed at CES 2026

Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...

07/10/2026

Dalet Flex LTS Delivers Smarter Media Operations from Ingest to Distribution

Dalet, a leading technology and service provider for media-rich organizations, today announced the latest Long-Term Supported (LTS) release of Dalet Flex. Build...

06/09/2026

Dolby and MagentaTV Bring Fans Closer to the FIFA World Cup 2026 in Germany with Dolby Vision and Dolby Atmos

June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...

02/09/2026

IBC2026 puts sport at the winning end of media innovation

IBC2026 will put sport firmly at the centre of the global media and entertainment technology conversation with the strongest sports showing in the event's h...

02/09/2026

PTZOptics Demonstrates the Power of Intelligent Multicame...

PTZOptics will bring a hands-on showcase of intelligent video production to IBC2026 (11-14 September, RAI Amsterdam), with demonstrations spanning new camera te...

02/09/2026

OOONA Launches OOONA Go

OOONA, a global provider of professional management and production tools for the media localization industry, today announced the launch of OOONA Go, a ready-to...

02/09/2026

EON Media launches AI media activation and monetization s...

EON Media will make its European debut at IBC2026 (September 11-14, RAI Amsterdam) in the show's Future Tech Zone (Hall 14.FT5). The company is launching it...

02/09/2026

Frequency Defines the Intelligent Channel at IBC2026

Frequency, the engine behind many of the worlds leading streaming television channels, will demonstrate at IBC2026 how integrating intelligence throughout chann...

02/09/2026

FOR-A Introduces Go Vertical AiDi and AiDi Sports Hub Und...

On-device AI platform gives broadcasters and content creators purpose-built tools for real-time vertical video production and AI-enhanced sports coverage...

02/09/2026

Shotoku To Introduce Aura E2 PTZ Elevator At IBC2026

Share Copy link Facebook X Linkedin Bluesky Email...

02/09/2026

AJA to Launch New openGear SDI/Fiber Conversion Cards at IBC2026

Share Copy link Facebook X Linkedin Bluesky Email...

02/09/2026

GoPro to Merge with Starman Optical

Share Copy link Facebook X Linkedin Bluesky Email...

02/09/2026

AIMS, EBU Completes Latest IPMX Certification Testing

Share Copy link Facebook X Linkedin Bluesky Email...

02/09/2026

EVS To Showcase New Neuron 4X Processor At IBC 2026

Share Copy link Facebook X Linkedin Bluesky Email...

02/09/2026

Sony Launches 100+ FAST Channels on Playstation 5 in the U.S.

Share Copy link Facebook X Linkedin Bluesky Email...

02/09/2026

Canon Unveils PTZ Camera Firmware Updates

Share Copy link Facebook X Linkedin Bluesky Email...

02/09/2026

EverPass Media Expands NFL Offering with Netflix Deal

Share Copy link Facebook X Linkedin Bluesky Email...

02/09/2026

Imagine Communications Unveils Latest Control Portfolio A...

Next-Generation Freeform Control Surfaces Lay the Foundation for AI-Enabled Media Operations At IBC2026 (Sept. 11 14, RAI Amsterdam, Stand #1.B73), Imagine Com...

02/09/2026

Friedrichstadt-Palast Relies on Riedel for IP-Centered Pr...

Friedrichstadt-Palast in Berlin, the world's largest theater stage, has modernized its backstage production infrastructure with a comprehensive Riedel solut...

02/09/2026

WiM to Host Reel Forward Production Conference at CSU Los...

Women in Media announces that it will host the two-day Reel/Forward in-person conference devoted to navigating today's production scene. Guests can enjoy pa...

02/09/2026

Teradek and New Media AV Expand Partnership with Full Liv...

The expanded partnership brings Teradek's Live Production solutions to New Media AV's European dealer and integrator network, opening new opportunities ...

02/09/2026

QuickLink Expands StudioEdge With WhatsApp Cisco Webex an...

QuickLink, a leading provider of award-winning video production and remote guest contribution solutions, announces a major expansion to its award winning Studio...

02/09/2026

Vipe by BCNEXXT Gives Foxtel a New Playout Model for its...

BCNEXXT, the developers of the advanced playout platform Vipe, today announced that premium entertainment brand Foxtel has selected Vipe to underpin playout for...

02/09/2026

HOT Telecommunications supercharges localisation efficien...

SubtitleNEXT helps HOT Telecom's subtitling team keep a cool head with reliable QC capabilities Profuz Digital, global developer of digital media and local...

02/09/2026

Case Study - Mission Digital Strengthens Battery Safety w...

Case Study: Mission Digital Strengthens Battery Safety with Safe-ion As productions become increasingly dependent on battery-powered equipment, the safe storag...

02/09/2026

New design strategy expands nanoparticle vaccine approach to influenza viruses

LA JOLLA, CA-Influenza viruses constantly shapeshift to evade recognition by the immune system. This shapeshifting occurs in critical proteins like hemagglutini...

02/09/2026

New AI algorithm could improve detection and prediction of heart diseases

LA JOLLA, CA-Clinicians often use a medical test called a 12-lead electrocardiogram (ECG) to diagnose heart problems, which uses electrodes placed on the chest ...

02/09/2026

Where milliseconds matter: Scripps Research scientists build new ML model to predict protein movements essential for biological function

LA JOLLA, CA-Proteins may look like rigid molecular structures, but inside our c...

02/09/2026

Lidl steps into the ring for Katie Taylor fight on RT

RT has today announced a major media partnership with Lidl around Katie Taylor's historic Croke Park clash with Flora Pili on Saturday, September 5th. The...

01/09/2026

IBC 2026: Bridge Technologies Adds Blackmagic IP10 Support to VB440 Production Probe

Bridge Technologies will announce at IBC2026 (Booth 1.A71) that its VB440 produc...

01/09/2026

DAZN to Acquire EverPass Media to Expand U.S. Commercial Venue Distribution

DAZN has announced an agreement to acquire EverPass Media, a commercial sports distribution platform serving bars, restaurants, hotels, and other venues in the ...

01/09/2026

Kalshi Named Official Prediction Market Partner of the US Open

The USTA and Kalshi have announced a multi-year partnership making Kalshi the Official Prediction Market Partner of the US Open, beginning with the 2026 US Open...

01/09/2026

IBC 2026: MASV to Showcase Sports Video Transfer Workflows

MASV will exhibit at IBC2026 (Booth 5.B40, RAI Amsterdam, September 11-14). CTO Majed Alhajry will appear on a panel session, A Tale of Two Feeds: Automation o...

01/09/2026

IBC 2026: FingerWorks Telestrators Partners with Broadcast Rental for European Distribution

FingerWorks Telestrators has announced a partnership with Broadcast Rental to ex...

01/09/2026

IBC 2026: FOR-A Expands viztrick AiDi into Two Dedicated Products

FOR-A has announced the expansion of viztrick AiDi into two dedicated products: Go Vertical! AiDi and AiDi Sports Hub. Developed by Nippon TV and delivered glob...

01/09/2026

Sony Launches Live TV on PS5 with Free Ad-Supported Streaming in the U.S.

Sony Pictures Television has launched Live TV on PS5, a free ad-supported streaming experience available to PS5 players in the United States. The service is acc...

01/09/2026

Friedrichstadt-Palast Installs Riedel Production Infrastructure

Friedrichstadt-Palast in Berlin has installed a Riedel production infrastructure spanning video, intercom, control, and I/O across the venue, implemented in col...

01/09/2026

IBC 2026: Arkona Partners with BFE for Arkona-Branded Control Panels

Arkona technologies GmbH has announced an OEM partnership with BFE Studio und Medien Systeme GmbH to offer arkona-branded control panels for its SDI-IP routing ...

01/09/2026

Cricket Australia Launches Cricket TV Streaming Service on Eluvio Platform

Cricket Australia has launched Cricket TV, a direct-to-consumer streaming service built on Eluvio's Content Fabric platform. The service is currently in ear...

01/09/2026

Eluvio Selected to Power Pasifika+ Streaming Service for Pacific Island Communities

Eluvio has announced it was selected to power Pasifika , a new direct-to-consume...

01/09/2026

Layercake Names Jon Marquard as Director/Chairperson

Layercake, the company behind the intelligent media workflow platform Streamcake, has appointed Jon Marquard as Director and Chairperson. The appointment marks ...

01/09/2026

Gravity Media Extends Powercor Stawell Gift Broadcast Agreement Through 2031

Gravity Media has announced a multi-year renewal of its agreement with Stawell Gift Event Management to produce the complete broadcast of the Powercor Stawell G...

01/09/2026

IBC 2026: Beam Dynamics Makes Debut with License Intelligence Module

Beam Dynamics will exhibit at IBC2026 for the first time (Stand 14.FT29, Hall 14), introducing License Intelligence, a new module for managing software licenses...

01/09/2026

ZOO Digital Selects Interra Systems BATON for File-Based Quality Control

Interra Systems has announced that ZOO Digital has selected BATON for file-based quality control across its media workflows. ZOO Digital delivers localized ente...

01/09/2026

IBC 2026: Bridge Technologies Deploys VB330 Monitoring at Sunrise

Bridge Technologies has announced the deployment of its VB330 monitoring probe at Sunrise, supporting the Swiss telecommunications provider's IP-based telev...

01/09/2026

Riedel Expands Coach Communications Partnership with Scottish Rugby Union

Riedel Communications has announced the continued expansion of its managed coach communications partnership with Scottish Rugby Union, now entering its third se...

01/09/2026

Behind The Mic: Football Season Approaches, as Networks Name On Air Talent for NFL, College Broadcasts

Behind The Mic provides a roundup of recent news regarding on-air talent, includ...

01/09/2026

IBC 2026: SMPTE Brings Full-Day Software-Defined Infrastructure Roadshow

SMPTE today detailed the centerpiece of its IBC2026 program: the SMPTE Roadshow: Future of Media Infrastructure, a full-day workshop on Monday, 14 September, th...

01/09/2026

Sound Particles & SOS Webinar: John Warhurst

Inside the Music and Sound of Michael Sound Particles have announced an upcoming webinar with John Warhurst, the Academy Award- and BAFTA-winning supervisin...

01/09/2026

Roland launch FP-40 piano & Piano Sphere app

Piano offers tutorials, lessons & feedback via app Roland have just launched a new digital piano that integrates with a mobile app in an effort to encourage...