SAN JOSE--Sixteen-year-old Xilinx Inc. has joined the ranks of the $1 billion semiconductor companies.
The San Jose-based supplier of programmable logic today reported a 54% increase in sales to $1.02 billion during its fiscal 2000 year, ended April 1, compared to $662 million in the 1999 period. Xilinx also posted a net income of $652.5 million in fiscal 2000, including a one-time gain of $674.7 million from the sale of stock in United Silicon Inc. to United Microelectronics Corp. (UMC) of Taiwan. Excluding that one-time gain, Xilinx had a net income of $257.6 million vs. $102.6 million in the previous year.
"The March quarter was a quarter in which Xilinx realized significant milestones," said Wim Roelandts, chief executive officer of Xilinx. "Not only did Xilinx become the first PLD company to exceed $1 billion in revenues for a fiscal year, but Xilinx was also first-to-market with a copper-based FPGA," he said, referring to last month's announcement that products were being shipped to customers (see March 27 story).
In the company's fiscal fourth quarter, Xilinx posted a record $306.6 million in sales, an increase of 16% sequentially from the previous three-month period and 66% higher than $184.3 million a year ago. In the just-ended quarter, Xilinx's net income was $78.3 million, or $0.22 per diluted share of stock, vs. $39.2 million, or $0.13 per share, last year.
Xilinx's earnings for the fiscal fourth quarter just beat Wall Street's consensus of $0.21 per share, based on a survey of financial analysts by First Call/Thomson Financial.