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14 April 2020

Skyworks’ March-quarter revenue slightly above midpoint of revised guidance range

In a business update for fiscal second-quarter of 2020 (ended 27 March), Skyworks Solutions Inc of Woburn, MA, USA (which manufactures analog and mixed-signal semiconductors) says that revenue is $766.1m, slightly exceeding the midpoint of the updated range of $760-770m provided in the revised outlook announced on 4 March, but below the original guidance of $800-820m provided on 23 January.

Non-GAAP diluted earnings per share are expected to be in line with the revised guidance of $1.34, below the original guidance of $1.46.

In light of the COVID-19 outbreak, Skyworks continues to monitor its supply chain. While it has seen limited impact to date, on 13 April state and local government officials from the state of Baja California, Mexico, informed Skyworks of its decision to temporarily suspend Skyworks’ operations in Mexicali, pursuant to the Mexican Ministry of Health’s Executive Order of 31 March, which suspended all non-essential public and private sector business through 30 April in order to mitigate the spread of the COVID-19 outbreak. In compliance with this, Skyworks has temporarily suspended its Mexicali operations and has directed its workforce in Mexico to follow the government’s ‘remain at home’ directive.

Skyworks does not expect that the temporary suspension of its Mexicali operations through 30 April will have a significant impact on its business. However, an extended suspension beyond 30 April would likely impact the firm’s ability to meet customer demand and would likely impact its operating results. Skyworks is working with state and local officials in Mexicali to resume operations as soon as practicable. An update will be provided when the firm reports its fiscal second-quarter 2020 results on 4 May.

In response to the global COVID-19 outbreak, Skyworks has implemented multiple protocols in its facilities worldwide, including social distancing, pre-shift temperature screening, enhanced use of personal protective equipment, heightened sanitation standards and remote-work options wherever possible. In addition, it has implemented rotating shifts with reduced staffing at its various manufacturing sites.

See related items:

Skyworks and Qorvo reduce March-quarter guidance by about 6% due to impact of COVID-19

Tags: Skyworks

Visit: www.skyworksinc.com

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