Xilinx (XLNX) Tops Q4 EPS by 11c, Revenues Beat

Xilinx (NASDAQ: XLNX) reported Q4 EPS of $0.82, $0.11 better than the analyst estimate of $0.71. Revenue for the quarter came in at $851 million versus the consensus estimate of $817.81 million.

• Record revenue of $851 million in the quarter; fiscal 2021 revenue of $3.15 billion
• Data Center Group (DCG) revenue in the quarter increased 28% sequentially, and fiscal 2021 revenue increased 20% over the prior year
• Wired and Wireless Group (WWG) revenue in the quarter increased 13% sequentially, driven by strength in Wireless with multiple regions deploying 5G, partially offset by weakness in Wired
• Aerospace & Defense, Industrial and Test, Measurement & Emulation (AIT) revenue in the quarter declined 2% sequentially, with strong Industrial end market performance offset by an expected decline in TME and softness in Aerospace & Defense sales
• Automotive, Broadcast and Consumer (ABC) revenue in the quarter declined 1% sequentially, with a record quarter in the Automotive end market offsetting seasonal declines in Broadcast and Consumer end markets
• Fiscal fourth quarter free cash flow of $227 million, representing 27% of revenue; fiscal 2021 free cash flow of $1.04 billion, or 33% of revenue

“We are pleased with our fourth quarter results as we delivered record revenues and double-digit year-over-year growth in the midst of a challenging supply chain environment,” said Victor Peng, Xilinx president and CEO. “Xilinx saw further improvement in demand across a majority of our diversified end markets with key strength in our Wireless, Data Center and Automotive markets, the pillars of our growth strategy. Our teams have executed well and we remain focused on continuing to meet customers’ critical needs.

“Our investment and strong execution toward our platform strategy are paying off as we are now in full production shipments of our 7nm Versal series, which is the culmination of a multi-year effort and a long-term growth driver for Xilinx. We also introduced new platforms for edge compute including Kria, an adaptive system-on-module (SOM) platform, as well as a cost-optimized UltraScale+ portfolio, to enable and accelerate innovation and AI at the edge.”

“Record Q4 revenues were driven by strength in Wireless and Data Center markets, as well as record quarters for our Industrial and Automotive end markets, which resulted in 6% sequential and 13% year-over-year growth,” said Brice Hill, Xilinx CFO. “Advanced Products also grew 6% sequentially and represented 73% of total revenue. Top line performance drove fourth quarter free cash flows of $227 million, or 27% of revenue, reflecting our efficient financial model.”

For earnings history and earnings-related data on Xilinx (XLNX) click here.

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