Stock Monitor: Applied Optoelectronics Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 10, 2018 / If you want access to our free earnings report on Xilinx, Inc. (NASDAQ: XLNX), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=XLNX. On April 25, 2018, Xilinx reported financial results for the fourth quarter and full year ended March 31, 2018. The Company surpassed analysts' expectations for revenues but missed earnings' forecasts in Q4 FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
Xilinx's total revenues reached $672.86 million for Q4 FY18, reflecting an increase of 10.40% from $609.45 million in Q4 FY17. Advanced Products accounted for 57% of the total revenues of Xilinx in Q4 FY18, while Core Products accounted for 43%. The reported total revenue number exceeded analysts' estimates of $650 million.
In Q4 FY18, Xilinx's North America division accounted for 31% of the total revenues; Asia/Pacific accounted for 39%; Europe accounted for 22%; and Japan accounted for the remaining 8%.
During Q4 FY18, Xilinx's cost of revenues was $197.33 million, 6.20% higher than the $185.81 million reported in Q4 FY17. The Company's gross margin advanced 12.25% to $475.53 million in Q4 FY18 from $423.64 million in Q4 FY17.
Xilinx had total operating expenses of $285.77 million in Q4 FY18, an increase of 14.20% from $250.24 million in Q4 FY17. In the reported quarter, the Company's research and development (R&D) expenses fell 1.08% to $162.48 million while selling, general, and administrative (SG&A) expenses advanced 5.37% to $89.35 million on a y-o-y basis. Xilinx's operating income ascended 9.44% to $189.77 million in Q4 FY18 from $173.40 million in Q4 FY17.
Xilinx reported a net income of $165.66 million in Q4 FY18, 7.97% higher than the $153.43 million reported in Q4 FY17. The Company's diluted income per share advanced 12.28% to $0.64 in the reported quarter from $0.57 in the year-ago same quarter. Xilinx's diluted earnings per share (DEPS) for Q4 FY18 fell behind analysts' consensus estimates of $0.65 per share. It must be noted that the Company's net income was negatively impacted by executive transition costs of $33 million during Q4 FY18.
For the year ending March 31, 2018, Xilinx's reported record revenues of $2.54 billion, an increase of 8.07% from $2.35 billion for the year ending April 01, 2017. This revenue growth was driven by broad-based strength across multiple markets. The Company's gross profit advanced 8.62% to $1.78 billion on a y-o-y basis, while operating income increased 6.53% to $745.05 million on a y-o-y basis in the reported year. Xilinx's net income fell 17.69% to $512.38 million in FY18 from $622.51 million in FY17. The Company's DEPS also declined 14.22% to $1.99 in FY18 from $2.32 in FY17.
Xilinx had cash, cash equivalents, and short-term investments of $3.45 billion as on March 31, 2018, 3.80% higher than $3.32 billion as on April 01, 2017. The Company's total long-term debt increased 22.02% to $1.21 billion as on March 31, 2018, from $995.25 million as on April 01, 2017.
Xilinx's net cash flow from operating activities was $217.72 million in the three months ending March 31, 2018, 28.92% lower than $306.32 million in the three months ending April 01, 2017.
Xilinx spent $20.98 million on property, plant, and equipment and other intangibles in FY18, 3.72% higher than $20.23 million in FY17. The Company distributed dividends of $89.30 million in the reported quarter, up 9.16% from $81.81 million in the previous year's same quarter. Besides, Xilinx also spent $163.45 million on repurchases of common stock in Q4 FY18, an increase of 51.25% from $108.06 million in Q4 FY17.
For the first quarter of fiscal 2019, Xilinx expects sales to be in the range of $660 million to $690 million and gross margin to be in the range of 69% to 71%. The Company anticipates operating expenses of approximately $260 million, other income of about $3 million, and a tax rate of 10% to14% in Q1 FY19.
Xilinx's Board of Directors declared a quarterly cash dividend of $0.36 per outstanding share of common stock, up from the current dividend of $0.35 per share, marking the 13th consecutive year of dividend increases. The dividend will be payable on June 04, 2018, to all stockholders of record at the close of business on May 15, 2018.
Stock Performance Snapshot
May 09, 2018 - At Wednesday's closing bell, Xilinx's stock rose 1.15%, ending the trading session at $68.43.
Volume traded for the day: 1.89 million shares.
Stock performance in the last month – up 0.54%; previous three-month period – up 2.18%; past twelve-month period – up 5.78%; and year-to-date – up 1.50%
After yesterday's close, Xilinx's market cap was at $16.96 billion.
Price to Earnings (P/E) ratio was at 27.90.
The stock has a dividend yield of 2.10%.
The stock is part of the Technology sector, categorized under the Semiconductor - Integrated Circuits industry. This sector was up 1.2% at the end of the session.
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