
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
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
06/09/2026
June 9 2026, 23:00 (PDT) Dolby and MagentaTV Bring Fans Closer to the FIFA Worl...
04/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
04/07/2026
April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...
16/06/2026
Thomson's highly regarded expert-led online learning courses are now easier to access on the go via our new App.
Available now on Google Play Store, the J...
16/06/2026
Neumann.Berlin has released firmware version 2.0 for the MT 48 audio interface, adding plugin compatibility, expanded Dante networking options, broadcast encode...
16/06/2026
TVNewsCheck has announced that nominations are now open for its 2027 Women in Technology Awards, to be presented at NAB Show 2027 on Tuesday, April 6 in the Med...
16/06/2026
Clear-Com has announced Avalon, a 1RU IP intercom platform for broadcast, live events, and production environments. Designed for IP-only workflows, Avalon suppo...
16/06/2026
SNS has published a guide to remote video editing workflows using its EVO shared storage platform and companion tools, covering use cases ranging from home edit...
16/06/2026
Grass Valley has announced that the Richmond Flying Squirrels, a Minor League Baseball affiliate of the San Francisco Giants, have deployed five Grass Valley LD...
16/06/2026
The Alliance for IP Media Solutions (AIMS) has announced the launch of the Official IPMX Training Series, a free online program covering the design, configurati...
16/06/2026
Swerve TV has announced distribution agreements with Fubo, Plex, Amazon Fire TV,...
16/06/2026
ATP and TikTok have announced an expansion of their global content partnership, extending the ATP's TikTok hub powered by TikTok GamePlan to cover all nine ...
16/06/2026
Network's LA facility serves as the heart of a sprawling operation built to ...
16/06/2026
At Pico, the network's media-management team is supporting a flood of HBS fe...
16/06/2026
The NHL will no longer air on CBC after the pulic broadcasters and national rights-holder Rogers Sportsnet were unable to come to agreement.
After a successfu...
16/06/2026
As live sports broadcasters continue to seek new ways to make complex action mor...
16/06/2026
Built with the 2026 FIFA World Cup in mind, these small but mighty IP-based tran...
16/06/2026
Boasts individual synths for each band
UVI's latest synth takes an interesting approach to synthesis, offering a trio of synth engines that each operate...
16/06/2026
New intelligent auto-fader plug-in unveiled
PSPaudioware's latest release offers automatic level adjustment and provides more detailed control than many...
16/06/2026
New performance-focused library announced
Crystal Pads is the latest addition to The Crow Hill Company's ever-growing product range, and according to th...
16/06/2026
Developed in partnership with Sequential
In recent years, GForce Software have branched into official emulations of classic hardware synths, delivering a ha...
16/06/2026
Designed specifically for live performance monitoring
beyerdynamic's latest announcement sees the company introduce an affordable in-ear monitoring syst...
16/06/2026
Official emulation celebrates iconic synth's 40th anniversary
Cherry Audio have just introduced Ensoniq ESQ-1, an official recreation of the 1986 polyph...
16/06/2026
Australians place growing trust in SBS News
16 June, 2026
Media releases
SBS has been recognised as one of Australia's most trusted news providers, ran...
16/06/2026
Rohde & Schwarz achieves highest number of GCF validated 3GPP NR NTN test cases ...
16/06/2026
Bydgoszcz to Become a Local Centre of Excellence for Advanced Rail Technologies....
16/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
16/06/2026
87 Percent of Creators Who Use Creative AI Say It Is Growing Their Business and ...
16/06/2026
Historic Zhuque-3 Reusable Rocket Test Mission Captured with URSA Cine Immersive
Brie Clayton June 16, 2026
0 Comments
Apple Immersive Video puts view...
16/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
16/06/2026
Rise WIB, the award-winning advocacy group championing gender diversity and career progression across the broadcast and media technology industry, today announc...
16/06/2026
Limecraft today announced the availability of Limecraft 2026.4, the fourth of eight planned platform releases this year. The update introduces Team-Based Access...
16/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
16/06/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
16/06/2026
Free Program Supports IPMX Education from Foundational Concepts Through System and Network Design
The Alliance for IP Media Solutions (AIMS) today announced t...
16/06/2026
Share your views on Screen Australia and the future of the industry 15 June 2026
Your feedback matters.
Following the instrumental insights provided in 2025,...
16/06/2026
Techtel Supports T-Motion RCCP-2A Controller Upgrade for Major Australian Broadc...
16/06/2026
Tuesday 16 June 2026
Record audiences tune in for opening weekend of ICC Women&...
16/06/2026
Every breakthrough AI model starts the same way: with a training run. The infrastructure running those training jobs shapes everything: how fast teams can itera...
15/06/2026
One of the more exciting internal video production divisions within a college at...
15/06/2026
The deal valued at $22 Billion is expected to close in the first half of 2027...
15/06/2026
Golf Channel and the Arnold Palmer Cup have announced a partnership to livestream the 2026 Arnold Palmer Cup on Golf Channel Mobile and GolfChannel.com. The tou...
15/06/2026
TikTok and Panini have announced a partnership to bring a digital collectible ca...
15/06/2026
Cosm and Monster Energy have announced the debut of the first full-dome immersiv...
15/06/2026
Real American Freestyle (RAF) and Fox Nation have announced an exclusive streaming agreement for three RAF international events, beginning with RAF Georgia on J...
15/06/2026
FanConnect has announced a partnership with Extreme Networks integrating FanConn...
15/06/2026
Ten Emerging Filmmakers Ages 18 to 25 Will Start Fellowship Year at Ignite Lab from June 14-19
LOS ANGELES, CA, June 15, 2026 - The nonprofit Sundance Institut...
15/06/2026
Innovative three-band soft synth introduced
UVI's latest synth takes an interesting approach to synthesis, offering a trio of synth engines that each op...
15/06/2026
Applications now open for 2026
The Oram Awards have returned for 2026 to celebrate the unusual, unique and unfiltered creative worlds of women and gender-di...