Xilinx ends fiscal year with record revenues

The chipmaker saw 22 percent growth in its data center business in fiscal 2020, driven by increased adoption with hyperscale customers.
Written by Stephanie Condon, Senior Writer

Xilinx on Wednesday reported record annual revenue for fiscal 2020, with solid growth in its data center business. 

The chipmaker's non-GAAP net income for Q4 2020 was $193 million, or 78 cents per diluted share. Revenues were $756 million, down 9 percent year over year.

For the full year, non-GAAP net income was $853 million, or $3.35 per diluted share. Revenues came to $3.16 billion, up 3 percent from the prior year. 

"Despite our fiscal 2020 being uniquely challenging, particularly related to the US trade-related restrictions with Huawei as well as some COVID-19 impact during our Q4, we were able to deliver another record year with revenue of $3.16 billion, a 3% increase over fiscal 2019," CEO Victor Peng said in a statement. "The strength and diversity of our business were reflected in the results of our fiscal fourth quarter with strong sequential growth in both revenue and profitability."

Xilinx's Data Center Group (DCG), which in Q4 accounted for 10 percent of its sales, delivered 22 percent revenue growth in fiscal 2020 compared with the year prior. The growth was driven by increased adoption with hyperscale customers across compute, networking and storage workloads. 

The Wired and Wireless Group (WWG), which accounted for 24 percent of total revenues in Q4, was relatively flat in FY20, with revenues down 1 percent. The business was slowed down by US trade restrictions and an industry slowdown in the ramp of 5G, Xilinx said. However, the company did recently announce that Samsung will use Xilinx's Versal adaptive compute platform for commercial 5G deployments.

Aerospace & Defense, Industrial and Test & Measurement (AIT) revenue, which accounted for half of all sales in Q4, grew 5 percent annually. Automotive, Broadcast and Consumer (ABC) markets, 16 percent of the business in Q4, delivered 8 percent annual growth.

Also, the Xilinx Board of Directors declared a quarterly cash dividend of 38 cents per outstanding share of common stock payable on June 3.

For the first quarter, Xilinx expects revenues in the range of $660 million to $720 million.

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