Skyworks cuts December-quarter revenue and earnings guidance

Skyworks Solutions Inc of Woburn, MA, USA (which manufactures analog and mixed-signal semiconductors) has reduced its revenue guidance for fiscal first-quarter 2019 (ended 28 December 2018) from $1bn-1.02bn (given on 8 November) to about $970m (down on $1.052bn a year previously). The firm has also reduced its guidance for non-GAAP diluted earnings per share from $1.91 to $1.81-1.84 (down on $2.00 a year previously).

“First fiscal quarter results were impacted by unit weakness across our largest smartphone customers,” says president & CEO Liam K. Griffin.

This follows similar December-quarter guidance cuts from rival Qorvo in November, as well as Lumentum and IQE (also in the Apple iPhone supply chain), and specifically follows Apple issuing a profit warning in early January.

“Despite these near-term challenges, our broad markets business tracked in-line with our prior outlook,” he adds. “In addition, cash flow generation continued to be strong, allowing us to return cash to shareholders through share repurchases and dividends.”

See related items:

Skyworks reports record quarterly revenue of $1.008bn, and ninth consecutive record year

Qorvo reduces December-quarter revenue, gross margin and earnings guidance

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