Skyworks meets financial expectations
Pro forma operating income, which excludes amortization of intangible assets, costs to implement consolidations and one-time items, for the third quarter was $0.2 million versus combined company losses of $19 million in the same period last year and $4 million pro forma operating income last quarter.
On a GAAP basis, the loss for the third fiscal quarter was $1.1 million as compared with a loss of $205.9 million in the year ago period and versus $0.9 million of loss in the previous quarter.
"The Skyworks team once again delivered to guidance in spite of a wireless market environment impacted by CDMA challenges in Asia and the economic disruption from SARS in China,” said David Aldrich, Skyworks president and CEO.
“Our relative strength is being driven by the ramp of new design wins, especially within our direct conversion transceiver and cellular systems product areas as handset OEMs, ODMs and contract manufacturers increasingly demand higher levels of integration".
Looking ahead to the current fourth quarter, Paul Vincent, Skywork’s CFO, believes that the company has reached the turning point within wireless end markets, particularly as the uncertainty relating to SARS recedes and customers deplete their handset inventories.
Wireless revenues for the fourth fiscal quarter are forecast to be slightly up on a sequential basis. Assembly and test services will be down from $13 million in the June quarter to approximately $9 million in the September quarter.
