SAN JOSE, Calif.
Aug 15, 2000
Xilinx, Inc. (NASDAQ: XLNX) today reaffirmed September quarter fiscal 2002 revenue guidance of down 20%-25% sequentially from June quarter revenues of $289 million. Average weekly turns from North America appear to have bottomed during the month of April and improved in the first two months of July and August from the April and May levels of last quarter. Turns bookings for Europe and Japan were both weak as anticipated and are running below last quarter's average weekly turns rates. As a result, revenues from North America are expected to represent over half of total Xilinx revenues, up from 49% last quarter. Revenues from the Company's recently introduced Virtex-II family of FPGAs remain on track to triple during the September quarter, up from $3 million last quarter. The company cautioned that this quarter still remains dependent on a level of turns during the month of September that is consistent with the third month of the prior quarter to meet its guidance.
The Company expects to take an inventory write down in the range of $65M to $85M in the second quarter of fiscal 2002 ending September 2001. This charge is primarily related to inventory of the Virtex and Virtex-E FPGA families. These product families experienced a sharp decline in backlog and reduced demand resulting from the global slowdown in telecommunications and data communications spending. Excluding this write-down, the Company expects gross margin to track slightly ahead of the 50-52% guidance for the September quarter.
There will be a conference call in conjunction with this release today. The dial in number is 415-904-7319. The call will commence at 2:00 p.m. PDT. The Company will provide revenue guidance for the December quarter during the second quarter fiscal quarter of 2002 earnings release conference call, which is scheduled for Thursday, October 18, 2001.
Xilinx is the leading supplier of complete programmable logic solutions, including advanced integrated circuits, software design tools, predefined system functions delivered as intellectual property cores, and unparalleled field engineering support. Founded in 1984 and headquartered in San Jose, Calif., Xilinx invented the field programmable gate array (FPGA) and fulfills more than half of the world demand for these devices today. Xilinx solutions enable customers to reduce significantly the time required to develop products for the computer, peripheral, telecommunications, networking, industrial control, instrumentation, aerospace, defense, low-power portable and consumer markets. For more information, visit the Xilinx web site at http://www.xilinx.com/ .
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SOURCE: Xilinx, Inc.
Contact: Lori Owen of Xilinx, Inc., +1-408-879-6911, or firstname.lastname@example.org
Web site: http://www.xilinx.com/