Xilinx Inc. (XLNX, Financial) filed Quarterly Report for the period ended 2010-10-02.
Xilinx Inc. has a market cap of $7.18 billion; its shares were traded at around $27.73 with a P/E ratio of 13.27 and P/S ratio of 3.91. The dividend yield of Xilinx Inc. stocks is 2.31%. Xilinx Inc. had an annual average earning growth of 17.5% over the past 10 years. GuruFocus rated Xilinx Inc. the business predictability rank of 2.5-star.XLNX is in the portfolios of John Hussman of Hussman Economtrics Advisors, Inc., PRIMECAP Management, David Dreman of Dreman Value Management, Jeremy Grantham of GMO LLC.
As of October 2, 2010, we had $131.2 million of deferred revenue and $37.6 million of deferred cost of revenues recognized as a net $93.6 million of deferred income on shipments to distributors. As of April 3, 2010, we had $110.4 million of deferred revenue and $30.3 million of deferred cost of revenues recognized as a net $80.1 million of deferred income on shipments to distributors. The deferred income on shipments to distributors that will ultimately be recognized in our consolidated statement of income will be different than the amount shown on the consolidated balance sheet due to actual price adjustments issued to the distributors when the product is sold to their end customers.
In addition, we developed an estimate of the number of stock-based awards which will be forfeited due to employee turnover. Quarterly changes in the estimated forfeiture rate have an effect on reported stock-based compensation, as the effect of adjusting the rate for all expense amortization is recognized in the period the forfeiture estimate is changed. If the actual forfeiture rate is higher than the estimated forfeiture rate, then an adjustment is made to increase the estimated forfeiture rate, which will result in a decrease to the expense recognized in the financial statements. If the actual forfeiture rate is lower than the estimated forfeiture rate, then an adjustment is made to decrease the estimated forfeiture rate, which will result in an increase to the expense recognized in the financial statements. The impact of forfeiture true up and forfeiture rate estimates in the first six months of fiscal 2011 and 2010 reduced stock- based compensation expense by $7.0 million and $8.0 million, respectively. The expense we recognize in future periods could also differ significantly from the current period and/or our forecasts due to adjustments in the assumed forfeiture rates.
Net revenues of $619.7 million in the second quarter of fiscal 2011 represented a 49% increase from the comparable prior year period of $415.0 million. Net revenues for the first six months of fiscal 2011 were $1.21 billion, a 53% increase from the comparable prior year period of $791.2 million. The year-over-year increases in net revenues were primarily driven by strong New Product growth as well as broad-based strengthening across all of our end markets and geographies. Total unit sales increased in the second quarter and the first six months of fiscal 2011 compared with prior year periods. The average selling price per unit also increased during the same time periods.
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Xilinx Inc. has a market cap of $7.18 billion; its shares were traded at around $27.73 with a P/E ratio of 13.27 and P/S ratio of 3.91. The dividend yield of Xilinx Inc. stocks is 2.31%. Xilinx Inc. had an annual average earning growth of 17.5% over the past 10 years. GuruFocus rated Xilinx Inc. the business predictability rank of 2.5-star.XLNX is in the portfolios of John Hussman of Hussman Economtrics Advisors, Inc., PRIMECAP Management, David Dreman of Dreman Value Management, Jeremy Grantham of GMO LLC.
Highlight of Business Operations:
Our short-term and long-term investments include marketable debt securities and non-marketable equity securities. As of October 2, 2010, we had marketable debt securities with a fair value of $1.84 billion and non-marketable equity securities in private companies of $18.7 million (adjusted cost).As of October 2, 2010, we had $131.2 million of deferred revenue and $37.6 million of deferred cost of revenues recognized as a net $93.6 million of deferred income on shipments to distributors. As of April 3, 2010, we had $110.4 million of deferred revenue and $30.3 million of deferred cost of revenues recognized as a net $80.1 million of deferred income on shipments to distributors. The deferred income on shipments to distributors that will ultimately be recognized in our consolidated statement of income will be different than the amount shown on the consolidated balance sheet due to actual price adjustments issued to the distributors when the product is sold to their end customers.
In addition, we developed an estimate of the number of stock-based awards which will be forfeited due to employee turnover. Quarterly changes in the estimated forfeiture rate have an effect on reported stock-based compensation, as the effect of adjusting the rate for all expense amortization is recognized in the period the forfeiture estimate is changed. If the actual forfeiture rate is higher than the estimated forfeiture rate, then an adjustment is made to increase the estimated forfeiture rate, which will result in a decrease to the expense recognized in the financial statements. If the actual forfeiture rate is lower than the estimated forfeiture rate, then an adjustment is made to decrease the estimated forfeiture rate, which will result in an increase to the expense recognized in the financial statements. The impact of forfeiture true up and forfeiture rate estimates in the first six months of fiscal 2011 and 2010 reduced stock- based compensation expense by $7.0 million and $8.0 million, respectively. The expense we recognize in future periods could also differ significantly from the current period and/or our forecasts due to adjustments in the assumed forfeiture rates.
Net revenues of $619.7 million in the second quarter of fiscal 2011 represented a 49% increase from the comparable prior year period of $415.0 million. Net revenues for the first six months of fiscal 2011 were $1.21 billion, a 53% increase from the comparable prior year period of $791.2 million. The year-over-year increases in net revenues were primarily driven by strong New Product growth as well as broad-based strengthening across all of our end markets and geographies. Total unit sales increased in the second quarter and the first six months of fiscal 2011 compared with prior year periods. The average selling price per unit also increased during the same time periods.
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