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 ...

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...

04/08/2026

Dalet Announces Commercial Availability of Dalia, Bringing Media-Aware Agentic AI to Enterprise Productions

Dalet, a leading technology and service provider for media-rich organizations, t...

04/07/2026

Detective Conan: Fallen Angel of the Highway Opens in Dolby Cinemas Across Japan, Presented in Dolby Atmos and Dolby ...

April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...

10/06/2026

SVG Sit-Down: Team Whistle's Joe Caporoso on Building World Cup Content Around Fans, Culture, IRL Experiences

DAZN-owned digital-media company launches three fan-first series leaning into cr...

10/06/2026

Clear-Com Appoints Jason Dino as Southwest Regional Sales Manager

Clear-Com has announced the appointment of Jason Dino as Southwest Regional Sales Manager USA, covering Southern California and the Southwest region. Dino joins...

10/06/2026

Caretta Research: 2026 World Cup Revenue Growth Due to More Matches; Rights Revenue Up 32%

An 11% decrease in number of global broadcast deals reflects the organization...

10/06/2026

Women Without Boundaries Awards Are Back!

The Women Without Boundaries Awards recognize women whose work is advancing the future of media, broadcast, AV, workplace technology, digital experience, and re...

10/06/2026

On Eve of World Cup Kickoff, FIFA and HBS Offer Deep Dive into IBC Operations, Commentary, and Ref Cam

Today is match day minus two for FIFA and HBS. On Thursday, there will be two ma...

10/06/2026

SES Supporting World's Biggest Soccer Tournament Broadcast Distribution Worldwide

SES is supporting broadcast distribution of the world's biggest football tou...

10/06/2026

BirdDog Achieves Full NDI 6.3 Compatibility Across Entire Product Line

NDI has announced that BirdDog has become the first hardware manufacturer to achieve full NDI 6.3 compatibility across its complete lineup of cameras, encoders,...

10/06/2026

Emmy Award-Winning Audio Team To Present at SVG Audio Symposium

Vince Caputo and Scott Carter, winners of the 2026 Sports Emmy for Outstanding Post Produced Audio have been announced as presenters for the 2026 SVG Advanced A...

10/06/2026

FOX One Set to Deliver World Cup in 4K; Personalization via AI Drives Experience

FOX One today unveiled a slate of new product features and enhancements designed to elevate the viewing experience for fans on the official streaming platform o...

10/06/2026

PWHL Scales Broadcast Operation in Season 3, Relying on World-Feed Model and Key Vendors

Primary production partners Dome Productions and Raycom Sports once again played...

10/06/2026

NFL Films Application Deadline for Women in Sports Filmmaking Experienceship, Augusts 26-29 in Mount Laurel, Closes June 18

The Women in Sports Filmmaking Experienceship is an immersive professional devel...

10/06/2026

NBAs In-House Broadcast Ops & Engineering Teams Power Global Finals Coverage From NYC, San Antonio

The league has expanded its HSAN architecture for the NBA Finals to manage more ...

10/06/2026

MoonPay X Games League Winter Draft Set for September 16 at Cosm Los Angeles

The inaugural MoonPay X Games League (XGL) Winter Draft will take place Wednesday, September 16, 2026 at Cosm Los Angeles from 7-9 p.m. PT. The event will strea...

10/06/2026

University of Oklahoma and Learfield Extend 30-Year Partnership, Announce Sooner Evolution Center

The University of Oklahoma (OU) Athletics Department and Learfield have announce...

10/06/2026

VSF Releases RIST Satellite-Hybrid Out-of-Band Specification

The Video Services Forum (VSF) has released TR-06-4 Part 8, a new specification for RIST Satellite-Hybrid: Out-of-Band Method. The specification creates a mecha...

10/06/2026

Riedel Artist Intercom Powers Live Neurovascular Conference in Lisbon

Riedel Communications provided the communications infrastructure for the 14th World Live Neurovascular Conference (WLNC) in Lisbon, supporting live medical proc...

10/06/2026

Sundance Film Festival 101: Films by LGBTQ+ Directors

A still from The Doom Generation by Gregg Araki (Courtesy of Sundance Institute) By Lucy Spicer Have you checked out our Sundance Film Festival 101 list yet...

10/06/2026

GearExpo UK: Interfaces & Mic Preamp Update

Get Hands-On with Interfaces & Mic Preamp Brands If youre after a new interface or preamp, then GearExpo UK is the place to be! Well have a whole host of au...

10/06/2026

MONO Music Conference 2026

November 13-14 2026, The Midway, San Francisco Following their recent rebranding, MONO Music Conference (formerly Music Expo) have officially announced thei...

10/06/2026

ebbandflow launch with deFORM

Debut instrument free for limited time deFORM is the debut release from newly founded developer ebbandflow, and it's being offered as a free download fo...

10/06/2026

Alone Australia Season 4: Meet the Cast

Alone Australia Season 4: Meet the Cast 10 June, 2026 Media releases WATCH THE TRAILER Smash-hit survival series Alone Australia drops its highly anticipa...

10/06/2026

DEADLY THEN, DEADLY NOW, DEADLY ALWAYS: SBS & NITV IGNITE NAIDOC WEEK 2026 WITH 50 YEARS OF DEADLY

DEADLY THEN, DEADLY NOW, DEADLY ALWAYS: SBS & NITV IGNITE NAIDOC WEEK 2026 WITH ...

10/06/2026

Rohde & Schwarz and TRUMPF advance laser-based drone defense with THORIS LCS

Rohde & Schwarz and TRUMPF advance laser-based drone defense with THORIS LCS Rohde & Schwarz is showcasing THORIS at ILA 2026: A sovereign, end to end counter...

10/06/2026

MAHLE and Rohde & Schwarz develop application for sensor testing of modern driver assistance systems

MAHLE and Rohde & Schwarz develop application for sensor testing of modern drive...

10/06/2026

NFVF CALL FOR FUNDING APPLICATIONS: PRODUCTION & DEVELOPMENT 2026/27

Production and Development Funding supports the creation of compelling, commercially viable, artistic and culturally relevant South African screen content. Deve...

10/06/2026

Nielsen launches Four-Screen Ad Deduplication measurement on YouTube campaigns in Japan

Media buyers and sellers can now compare YouTube reach from computer, mobile, an...

10/06/2026

Ecoflow X Launches as Experimentation Arm for Sustainabil...

Accedo, Humans not Robots, and the Institution of Engineering and Technology (IET) have announced the launch of Ecoflow X. Formerly an IBC Accelerator project, ...

10/06/2026

Frequency Appoints James Smith as General Manager - Monet...

Frequency, the engine powering the world's leading streaming television channels, today announced that James Smith has joined the company as General Manager...

10/06/2026

Riedel Artist at the Heart of the 14th World Live Neurova...

At the 14th World Live Neurovascular Conference (WLNC) in Lisbon, Riedel Communications provided the communications infrastructure for live medical procedures s...

10/06/2026

Globecast Unveils Content Exchange Platform Powered by Or...

Globecast, a leading provider of broadcast, media, and entertainment managed services, today announced the launch of its Content Exchange platform powered by Or...

10/06/2026

Venues and integrators shift toward professional recharge...

Klvr will showcase how venues, integrators and production teams are rethinking disposable battery usage at InfoComm 2026 (Las Vegas, June 17-19, booth #N6311). ...

10/06/2026

VSF Releases Specification for RIST Satellite Hybrid Out-...

The Video Services Forum (VSF) has further enhanced the Reliable Internet Streaming Transport (RIST) protocol by incorporating a new feature, RIST Satellite-Hyb...

10/06/2026

Microphone Maker Audix Adds Eric Reese as VP

Share Copy link Facebook X Linkedin Bluesky Email...

10/06/2026

VEON's Banglalink Brings Every World Cup 2026 Match to Football Fans in Bangladesh on Toffee

10 Jun 2026 VEON's Banglalink Brings Every World Cup 2026 Match to Football...

10/06/2026

How to watch every ICC Womens T20 World Cup 2026 match live on Sky Sports

Wednesday 10 June 2026 How to watch every ICC Women's T20 World Cup 2026 match live on Sky Sports Where is the ICC Women's T20 World Cup 2026 availabl...

10/06/2026

PRLA brings first-ever Beautifully Clean Oral Care TV campaign to screens nationwide with Sky

Wednesday 10 June 2026 P RLA brings first-ever Beautifully Clean Oral Care'...

10/06/2026

Sky reveals pulse-pounding first teaser trailer for upcoming crime drama Fightland

Wednesday 10 June 2026 Sky reveals pulse-pounding first teaser trailer for upco...

10/06/2026

Riedel Artist at the Heart of the 14th World Live Neurovascular Conference

Wuppertal June 10, 2026 Riedel Artist at the Heart of the 14th World Live Neurovascular ConferenceAt the 14th World Live Neurovascular Conference (WLNC) in Li...

10/06/2026

Netflix Showcases New Mobile Experience, Collections and Games Vision in APAC

Back to All News Netflix Showcases New Mobile Experience, Collections and Games Vision in APAC Product 10 June 2026 GlobalSouth KoreaJapan Link copied to c...

10/06/2026

Ready to Join? The Netflix Fan Club Arrives at Cannes Lions

Back to All News Ready to Join? The Netflix Fan Club Arrives at Cannes Lions Business 10 June 2026 Global Link copied to clipboard Download all assets N...

10/06/2026

June 10, 2026

Chemists snap together complex 3D molecules from highly reactive radicals-without losing their shape Scripps Research team develops stereoretentive radical-radi...

09/06/2026

Kiswe Expands Partnership With ONE Championship To LaunchGlobal Subscription Platform

Kiswe announces an expanded long-term partnership with ONE Championship (ONE), t...

09/06/2026

SiriusXM to Carry All 104 FIFA World Cup 2026 Matches via FOX Sports Commentary

SiriusXM will broadcast FOX Sports' English-language commentary for all 104 FIFA World Cup 2026 matches from June 11 through July 19, available to subscribe...

09/06/2026

EVS Broadcast Equipment Rebrands as EVS

EVS has announced it is changing its corporate name from EVS Broadcast Equipment to EVS, reflecting the company's expanded portfolio beyond broadcast equipm...

09/06/2026

FOX and NFL Announce Multi-Year Agreement for NFL Coverage in Mexico Starting in 2026

Fox Corporation and the NFL have announced a multi-year agreement to bring NFL c...