Xilinx Inc. (NASDAQ:XLNX) Q2 2021 Earnings Conference Call - Final Transcript

Good afternoon, my name is Rob and I will be your conference operator. I would like to welcome everyone to the Xilinx Fiscal Second Quarter 2021 Earnings Release Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] I would now like to turn the call over to Matt Poirier. Thank you, Mr. Poirier, you may begin your conference.

Thank you and good afternoon. With me are Victor Peng, CEO and Brice Hill, CFO. We recognize there have been a number of recent reports regarding a potential M&A transaction with Xilinx. Our policy on M&A rumors is to neither comment nor answer questions about them and we will abide by that policy with respect to these reports. The purpose of today's call is to discuss our most recent quarterly results and outlook and we would ask that questions be limited to these topics.

Let me remind everyone that during our conference call today, we may make projections or other forward-looking statements regarding future events or the future financial performance of the company. We wish to caution you that such statements are predictions based on information that is currently available and that actual results may differ materially. We refer you to the documents the company files with the SEC including our 10-Ks, 10-Qs, and 8-Ks. These documents contain and identify important risk factors that could cause the actual results to differ materially from those contained in our projections or forward-looking statements. In addition to GAAP financial measures, we will be disclosing certain supplemental non-GAAP financial measures used by management to evaluate the company's financial results.

We provide these measures to facilitate period-to-period comparability for purposes of evaluating continuing business operations by excluding the effects of non-recurring and unusual items such as amortization of intangibles and certain one-time items related to acquisitions. We believe that sharing these non-GAAP measures will be helpful for analysts and investors in analyzing the company's ongoing core business. A reconciliation of non-GAAP financial information to the closest GAAP measure is included in our earnings release and has been posted on our Investor Relations website. This conference call is open to all and is being webcast live. It can be accessed from our Xilinx Investor Relations website. Let me now turn the call over to Victor.

Thanks, Matt and thanks everyone for joining today's call. I hope you and your families are healthy and well. Let me now briefly touch on how we're operating with the ongoing COVID-19 challenges before I discuss the business. Our supply chain and development activities have continued without much disruption. Most of our employees continue to work from home except in China where employees have been allowed to return to work. And we've continued to progress on our strategy despite approaching eight months of largely working from home. Overall, our teams are doing an outstanding job executing and delivering for our customers.

Now on to the business highlights.