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18 January 2008


Skyworks grows quarterly revenue a higher-than-expected 11%

For its fiscal first-quarter 2008 (ended 28 December 2007), Skyworks Solutions Inc of Woburn, MA, USA, which manufactures linear products, power amplifiers, front-end modules and radio solutions, has reported revenue of $210.5m, up 7% on $196m a year ago and up 11% on the previous quarter’s $190.5m (better than its guidance of 9%).

On a non-GAAP basis, operating income was $28.6m, up from $22.7m the previous quarter. Net income was $27.9m, up from $23.0m. Diluted earnings per share was a record $0.17 ($0.01 ahead of consensus estimates). Skyworks also generated a record $55m of cash flow from operations.

“Skyworks delivered solid results in the December quarter, with operational execution translating into improved profitability,” says president and CEO David J. Aldrich.

“Our linear products momentum, share gains at key handset OEMs and increased multimode sales fueled double-digit top-line growth and both record earnings per share and cash flow generation.”

During the quarter, Skyworks: introduced custom RF solutions for automatic meter reading applications; increased shipments of GSM and WCDMA base-station RF ICs to network infrastructure maker Huawei; ramped multimode front-end solutions at Samsung; enhanced multimode front-end module (FEM) market position by increasing EDGE and WCDMA shipments with a new tier-one OEM; launched front-end modules with Research in Motion; extended the partnership with China’s MediaTek (one of the world’s fastest-growing solution providers) to include power amplifiers and front-end modules. Skyworks also acquired Freescale Semiconductor’s power amplifier and front-end module product line.

For its fiscal second-quarter 2008, Skyworks expect to largely offset the seasonally low March quarter for handsets with growth from its linear products portfolio and multimode handset content gains, says VP and chief financial officer Donald W. Palette. “Accordingly, we anticipate delivering $200m in revenue [down just 5% on fiscal Q1 and up 10% on $180.2 m a year ago] and diluted earnings per share of $0.15 on a non-GAAP basis.”

See related items:

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