
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
Most recent headlines
11/12/2025
Dalet, a leading provider of cloud-native, end-to-end media workflow solutions, ...
25/11/2025
Tracy Bonareri Onchoke, an investigative journalist from Kenya is the winner of the Thomson Foundation's Young Journalist Award 2025.
The 26-year-old-sele...
25/11/2025
SVG All-Stars: Blayke Scheer, Senior Director, Creative Content, YES NetworkThe Indiana alum has turned storytelling into an artform for more than two decadesBy...
25/11/2025
Op-Ed: With FCC's C-Band Auction on the Horizon, Broadcasters Need Proven, C...
25/11/2025
Analysis: Is Baller League really the future of sport? By Callum McCarthy, Editor-at-Large
Tuesday, November 25, 2025 - 10:10
Print This Story
With KSI on...
25/11/2025
Platinum Whitepaper: The Growth of Broadcast in the World of Major Large Scale E...
25/11/2025
SVG Summit 2025 Preview: SVG Women's Sports WorkshopBy Samantha Gabay
Tuesday, November 25, 2025 - 10:27 am
Print This Story | Subscribe
Story Highlig...
25/11/2025
SVG New Sponsor Spotlight: CacheFly's Matt Levine on the Evolving Role of th...
25/11/2025
Peacock's EA SPORTS Madden NFL Cast Levels Up on Thanksgiving With SkyCam as...
25/11/2025
Mathias Broe attends the 2025 Sundance Film Festival premiere of Sauna at Library Center Theatre. (Photo by Michael Hurcomb/Shutterstock for Sundance Film Fes...
25/11/2025
The best playlists, podcasts, and audiobooks bring a little extra magic to your daily routine. With new features and offerings, Spotify Premium delivers even mo...
25/11/2025
Comprehensive new research confirms what we already knew: Australian music fans love the quality, quantity, and access they have to new and local music on strea...
25/11/2025
Applicable Products
Objectives The purpose of this application note is to give a brief background on 5G (NR) wireless communication an explain the reason a SN...
25/11/2025
Nielsen will now measure both Lionsgate's FAST channel MovieSphere and Movie...
25/11/2025
FREMONT, Calif. Blackmagic Design has announced that The Associated Press (AP) has completed the transition of its global video editing platform to DaVinci Reso...
25/11/2025
Berklees Inaugural Nat King Cole and Natalie Cole Scholarship Awarded to Paris P...
25/11/2025
NEW YORK NFL and college football coverage, the MLB postseason and the new fall broadcast-TV season contributed to major gains for traditional media companies a...
25/11/2025
SAUGERTIES, N.Y. Tower Products, a manufacturer and distributor of pro video and audio equipment here, said President and CEO Jim Veltrie will retire from the c...
25/11/2025
Following last week's disclosure that it had acquired a 8.2% stake in E.W. Scripps, Sinclair has filed papers with the Securities and Exchange Commission pr...
25/11/2025
25 Nov 2025
VEON's QazCode and MeetKai Sign Agreement to Power National LLM...
25/11/2025
UKTV has acquired a high-profile slate of US dramas from Paramount Global Conten...
25/11/2025
A symphony of genius, rivalry and vengeance, boldly reimagined from Peter Shaffe...
25/11/2025
Article courtesy of Cinematography World
Read the article
FilmLight has finalised the prestigious 2025 FilmLight Colour Awards jury and welcomed award-winning...
25/11/2025
Article courtesy of Prensario
Read the article
La serie fue dirigida por Juli n de Tavira, Rodrigo Santos, y David Leche Ruiz, con direcci n de fotograf a a...
25/11/2025
Article courtesy of The Hollywood Reporter
Read the article
The awards, celebr...
25/11/2025
Article courtesy of Televisual
Read the article
Already live in Los Angeles and rolling out in New York and London, Nara gives producers, colourists, conform ...
25/11/2025
Article courtesy of Digital Media World
Read the article
ARTONE post-house in Tokyo is the first facility in Japan to integrate Baselight M, choosing its prec...
25/11/2025
Article courtesy of The Hollywood Reporter
Read the article
Once hidden in post-production suites, the artists who make movies and TV shows look the way they ...
25/11/2025
Article courtesy of Deadline
Read the article
The Brutalist' & Bad Bunny's Nuevayol' Music Video Among 2025 FilmLight Colour Award Winners - Cam...
25/11/2025
Black Forest Labs - the frontier AI research lab developing visual generative AI models - today released the FLUX.2 family of state-of-the-art image generation ...
24/11/2025
HBO's The Shuffle' Reveals Longtime Connection of Sports and Entertainm...
24/11/2025
2025 Sports Broadcasting Hall of Fame: Hiroshi Kiriyama, Sony Broadcast (and Ind...
24/11/2025
SVG Summit 2025 Preview: FIFA, NBC Olympics, Fox Sports, CBS Sports, Netflix, NF...
24/11/2025
Case Study: YES Network Streamlines Broadcast Operations with Beam DynamicsBy SVG Staff
Monday, November 24, 2025 - 11:18 am
Print This Story | Subscribe
...
24/11/2025
Platinum White Paper: More of Everything: How Broadcasters are Changing Their Ap...
24/11/2025
Versant Media USA Sports President Matt Hong on How Versant Has Best of Both Wor...
24/11/2025
SVG Sit-Down: NABA Director-General Rebecca Hanson on How FCC's C-Band Aucti...
24/11/2025
SVG New Sponsor Spotlight: Bolin Technology's Sapan Doshi on the Proliferati...
24/11/2025
Robyn made her long-awaited return to the stage this week, as Spotify and Acne Studios brought friends and top fans together for an unforgettable evening at the...
24/11/2025
After more than two years of redevelopment, FC Barcelona returned to its spiritual home on November 22, hosting Athletic Club in the first La Liga match at the ...
24/11/2025
The L3Harris next-generation imager for NOAA's GeoXO satellite system will c...
24/11/2025
Mumbai - November 24, 2025 - In a first-of-its-kind initiative, JioStar, in coll...
24/11/2025
Disney Achieves Largest Monthly Share Increase, Followed by FOX and Paramount, w...
24/11/2025
ROCHESTER, N.Y. Sinclair said it has elevated Sean LaRose, director of sales at WUHF and partner station WHAM here, to vice president and general manager, effec...
24/11/2025
Back to All News
Chaos and Connection: Meet the Unfiltered Cast of Reality Dati...
24/11/2025
24 Nov 2025
Kyivstar Launches Starlink Direct to Cell Satellite Connectivity in Ukraine Today's Launch Makes Ukraine the First Country in Europe Where Star...
24/11/2025
Editor's note: This post is part of the AI On blog series, which explores the latest techniques and real-world applications of agentic AI, chatbots and copi...
24/11/2025
Ahead of the new ninth series of Dancing with the Stars, kicking off in January 2026, RT and Shinawil have announced the arrival of three new faces to the hit ...
22/11/2025
The deadline for entries for the 2025 Best in Market Awards has been extended to 23:59 PST on November 28, 2025....
22/11/2025
Clear-Com announced the upcoming launch of its 4-Channel HelixNet beltpack, a next-generation advancement of its widely used 2-channel model. The new beltpack...