Xilinx (XLNX) 8-K Xilinx Announces Third Quarter Fiscal 2011 Results

Exhibit 99.1

Investor Relations Contact:
Lori Owen
Xilinx, Inc.
(408) 879-6911
ir@xilinx.com

XILINX ANNOUNCES THIRD QUARTER FISCAL 2011 RESULTS

SAN JOSE, CA, January 19, 2011— Xilinx, Inc. (Nasdaq: XLNX) today announced third quarter fiscal 2011 sales of $567.2 million, down 8% sequentially and up 10% from the third quarter of the prior fiscal year. Third quarter fiscal 2011 net income was $152.3 million, or $0.58 per diluted share.

The Xilinx Board of Directors announced a quarterly cash dividend of $0.16 per outstanding share of common stock, payable on March 2, 2011 to all stockholders of record at the close of business on February 9, 2011.

Additional third quarter comparisons are represented in the charts below:

GAAP Results
(In millions, except EPS)

	Q3		Q2		Q3		Growth Rates
	FY 2011		FY 2011		FY 2010		Q-T-Q			Y-T-Y
Net revenues	$	567.2	$	619.7	$	513.3		-8	%		10	%
Operating income	$	183.5	$	222.7	$	136.6		-18	%		34	%
Net income	$	152.3	$	170.9	$	106.9		-11	%		42	%
Diluted earnings per share	$	0.58	$	0.65	$	0.38		-11	%		53	%

The sales decline during the quarter was driven primarily by weaker than anticipated wireless communications sales to customers in Europe and North America.

“While we did not achieve a fifth consecutive quarter of record sales, I am pleased with the Company’s continued focus on cost reduction and financial discipline. This is reflected in gross margin and operating margin of 65.7% and 32%, respectively, in the December quarter. This is up from 64.1% and 27% in the same quarter of the prior year,” said Moshe Gavrielov, Xilinx President and Chief Executive Officer. “As we embark upon 2011, I am encouraged by initial manufacturing milestones we have achieved on the new 28nm technology node. When coupled with the competitive advantages offered by our 7 series FPGAs, I believe Xilinx is positioned to establish clear market share leadership on this technology node.”

Net Revenues by Geography:

	Percentages
	Q3			Q2			Q3			Growth Rates
	FY 2011			FY 2011			FY 2010			Q-T-Q			Y-T-Y
North America		30	%		30	%		35	%		-7	%		-5	%
Asia Pacific		38	%		35	%		36	%		-1	%		19	%
Europe		22	%		26	%		20	%		-22	%		21	%
Japan		10	%		9	%		9	%		-3	%		14	%

Net Revenues by End Market:

	Percentages
	Q3			Q2			Q3			Growth Rates
	FY 2011			FY 2011			FY 2010			Q-T-Q			Y-T-Y
Communications		45	%		48	%		46	%		-14	%		8	%
Industrial & Other		34	%		31	%		32	%		-2	%		15	%
Consumer & Automotive		15	%		15	%		15	%		-6	%		15	%
Data Processing		6	%		6	%		7	%		-6	%		-6	%

Net Revenues by Product:

	Percentages
	Q3			Q2			Q3			Growth Rates
	FY 2011			FY 2011			FY 2010			Q-T-Q			Y-T-Y
New		43	%		44	%		33	%		-10	%		46	%
Mainstream		27	%		27	%		33	%		-11	%		-11	%
Base		25	%		25	%		29	%		-7	%		-6	%
Support		5	%		4	%		5	%		13	%		13	%

Products are classified as follows:

New Products: Virtex^®-6, Virtex-5, Spartan^®-6, Spartan-3A and Spartan-3E product families Mainstream Products: Virtex-4, Spartan-3, Spartan-II and CoolRunner™-II product families Base Products: Virtex, Virtex-E, Virtex-II, Spartan, XC4000, CoolRunner and XC9500 product families Support Products: Configuration products, HardWire, Software & Support/Services

Key Statistics:

(Dollars in millions)

	Q3		Q2		Q3
	FY 2011		FY 2011		FY 2010
Annual Return on Equity (%)*		30		32		14
Operating Cash Flow	$	333	$	42	$	185
Depreciation Expense	$	13	$	13	$	13
Capital Expenditures	$	15	$	15	$	9
Combined Inventory Days		130		89		85
Revenue Turns (%)		44		48		58

* Return on equity calculation: Annualized net income/average stockholders’ equity

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Highlights — Third Quarter Fiscal 2011

• Xilinx announced the industry’s first stacked silicon interconnect technology for delivering breakthrough capacity, bandwidth and power savings using multiple FPGA die in a single package. This platform approach is the result of five years of Xilinx research and development efforts coupled with industry leading technology from TSMC and our assembly suppliers. Representing a significant step in FPGA evolution, this innovation is expected to extend the range of applications addressed by programmable logic.

• Xilinx demonstrated its commitment to delivering superior transceiver performance for optical communications by announcing the availability of Virtex-6 HXT FPGAs that support 40Gbps and 100Gbps. Additionally, with its Virtex-7 HT FPGAs, Xilinx demonstrated 28Gbps serial transceiver performance required for next generation 100-400Gbps applications. These 28nm devices are equipped with the industry’s highest-speed and lowest jitter serial transceivers available in an FPGA to support stringent optical and backplane protocols.

Business Outlook — March Quarter Fiscal 2011

• Sales are expected to be flat to up 5% sequentially.

• Gross margin is expected to be approximately 65% plus or minus one percentage point.

• Operating expenses are expected to be approximately $195 million, including approximately $6 million in restructuring charges.

• Other income and expense is expected to be an expense of approximately $9 million.

• Fully diluted share count is expected to be approximately 266 million.

• March quarter tax rate is expected to be approximately 21%.

Conference Call

A conference call will be held today at 2:00 p.m. Pacific Time to discuss the third quarter financial results and management’s outlook for the March quarter. The webcast and subsequent replay will be available in the investor relations section of the Company’s web site at www.investor.xilinx.com. A telephonic replay of the call may be accessed later in the day by calling (800) 642-1687 and referencing confirmation code 32142705. The telephonic replay will be available for two weeks following the live call.

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This release contains forward-looking statements and projections. Forward-looking statements and projections can often be identified by the use of forward-looking words such as “expect,” “believe,” “may,” “will,” “could,” “anticipate,” “estimate,” “continue,” “plan,” “intend,” “project” or other similar expressions to identify such forward-looking statements that include, but are not limited to, statements related to the semiconductor market, the growth and acceptance of our programmable platforms, expected revenue growth, the demand and growth in the markets we serve, opportunity for expansion into new markets, and our expectations regarding our business outlook for the March quarter for fiscal 2011. Undue reliance should not be placed on such forward-looking statements and projections, which speak only as of the date they are made. We undertake no obligation to update such forward-looking statements. Actual events and results may differ materially from those in the forward-looking statements and are subject to risks and uncertainties including customer acceptance of our new products, current global economic conditions, the health of our customers and the end markets in which they participate, our ability to forecast end customer demand, a high dependence on turns business, more customer volume discounts than expected, greater product mix changes than anticipated, fluctuations in manufacturing yields, our ability to deliver product in a timely manner, our ability to successfully manage production at multiple foundries, variability in wafer pricing, and other risk factors listed in our most recent Forms 10-Q and 10-K.

About Xilinx

Xilinx is the world’s leading provider of programmable platforms. For more information, visitwww.xilinx.com.

Xilinx, the Xilinx logo, Virtex, Spartan, ISE, and other brands designated herein are trademarks of Xilinx in the United States and other countries. All other trademarks are the property of their respective owners.

#1102F

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XILINX, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
(In thousands, except per share amounts)

	Three Months Ended									Nine Months Ended
	Jan. 1,			Oct. 2,			Jan. 2,			Jan. 1,			Jan. 2,
	2011			2010			2010			2011			2010
Net revenues	$	567,190		$	619,666		$	513,349		$	1,781,593		$	1,304,534
Cost of revenues		194,419			213,260			184,320			615,855			486,319
Gross margin		372,771			406,406			329,029			1,165,738			818,215
Operating expenses:
Research and development		98,453			96,578			101,867			289,515			275,245
Selling, general and administrative		86,531			87,174			85,037			257,763			237,214
Amortization of acquisition-related intangibles		—			—			—			—			2,493
Restructuring charges		4,276			—			5,531			4,276			27,217
Total operating expenses		189,260			183,752			192,435			551,554			542,169
Operating income		183,511			222,654			136,594			614,184			276,046
Impairment loss on investments		—			—			(3,041	)		—			(3,041	)
Interest and other expense, net		(3,302	)		(3,484	)		(542	)		(11,916	)		(13,234	)
Income before income taxes		180,209			219,170			133,011			602,268			259,771
Provision for income taxes		27,868			48,275			26,103			120,445			50,819
Net income	$	152,341		$	170,895		$	106,908		$	481,823		$	208,952
Net income per common share:
Basic	$	0.59		$	0.66		$	0.39		$	1.82		$	0.76
Diluted	$	0.58		$	0.65		$	0.38		$	1.79		$	0.75
Cash dividends declared per common share	$	0.16		$	0.16		$	0.16		$	0.48		$	0.44
Shares used in per share calculations:
Basic		259,418			260,151			276,832			265,085			275,989
Diluted		263,612			263,286			278,566			268,778			277,030

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XILINX, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)

	Jan. 1,		Apr. 3,
	2011		2010
	(Unaudited)
ASSETS
Current assets:
Cash, cash equivalents and short-term investments	$	1,764,765	$	1,386,605
Accounts receivable, net		369,657		262,735
Inventories		242,532		130,628
Deferred tax assets and other current assets		153,701		127,098
Total current assets		2,530,655		1,907,066
Net property, plant and equipment		376,764		365,878
Long-term investments		660,167		582,202
Other assets		290,847		329,172
Total Assets	$	3,858,433	$	3,184,318
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued liabilities	$	294,483	$	277,029
Deferred income on shipments to distributors		80,536		80,132
Total current liabilities		375,019		357,161
Convertible debentures		887,197		354,798
Deferred tax liabilities		368,521		294,149
Other long-term liabilities		54,090		57,740
Stockholders’ equity		2,173,606		2,120,470
Total Liabilities and Stockholders’ Equity	$	3,858,433	$	3,184,318

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XILINX, INC.
SUPPLEMENTAL FINANCIAL INFORMATION
(Unaudited)
(In thousands)

	Three Months Ended						Nine Months Ended
	Jan. 1,		Oct. 2,		Jan. 2,		Jan. 1,		Jan. 2,
	2011		2010		2010		2011		2010
SELECTED CASH FLOW INFORMATION:
Depreciation	$	12,500	$	12,747	$	12,867	$	37,438	$	37,932
Amortization		1,873		1,943		3,210		5,559		11,777
Stock-based compensation		14,754		15,421		15,519		45,295		41,010
Net cash provided by operating activities		332,527		41,616		185,478		479,185		450,421
Purchases of property, plant and equipment		14,880		15,177		8,693		48,324		17,540
Payment of dividends to stockholders		41,489		41,645		44,299		126,951		121,617
Repurchases of common stock		2,634		32,976		25,000		468,943		25,000
Proceeds from issuance of common stock to employees and excess tax benefit		24,991		41,816		13,546		72,624		13,167
STOCK-BASED COMPENSATION INCLUDED IN:
Cost of revenues	$	1,092	$	1,312	$	1,291	$	3,671	$	3,678
Research and development		7,120		7,341		7,289		21,665		18,140
Selling, general and administrative		6,542		6,768		6,939		19,959		18,247
Restructuring charges		—		—		—		—		945

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