Skyworks posts losses and flat revenues
After posting its first operating profit of $0.5 million in the September 2002 quarter and staying in the black since, the company moved back to an operating loss of $4.8 million. Including restructuring charges related to consolidation of the company s front-end module and RF subsystems product areas, Skyworks posted a net loss of $42.9 million.
Skyworks is guiding for a 10% increase in revenue in the December quarter and is also expecting to make its first profit since its formation of a penny a share, above Street expectations for a loss of a penny a share. Analysts currently don t expect a profit until the June quarter of 2004.
The September quarter is also the end of Skyworks’ fiscal year. Total revenues for the year were $617.8 million as compared to combined company fiscal 2002 revenues of $543.1 million. Meanwhile, pro forma operating income of $3.2 million during fiscal 2003 compares to a combined company pro forma operating loss of $72.0 million during 2002.
