News Article
Skyworks Revenue Rockets to Over $1 billion
For Fiscal Year 2010, the company’s revenue increased by 34% over FY 2009 and revenue guidance for the next quarter has been increased to $330 to $335 million.
Skyworks Solutions, an innovator of high reliability analog and mixed signal semiconductors enabling a broad range of end markets, has reported fourth fiscal quarter and year end 2010 results.
Revenue for the quarter was $313.3 million, up 14 % sequentially and 37 % year-over-year, and greater than the company's updated guidance of $310 million provided on September 21 at its Analyst Day. For fiscal year 2010, revenue was $1.072 billion versus $802.6 million in fiscal 2009, a 34 % increase.
On a GAAP basis, operating income for the fourth fiscal quarter of 2010 was $65.4 million and diluted earnings per share was $0.25. Operating income for fiscal 2010 was $199.7 million and diluted earnings per share was $0.75.
"Skyworks is capitalizing on consumers' insatiable demand for always on connectivity, broadband mobility and access, as well as home automation applications," said David J. Aldrich, president and CEO of Skyworks. "We believe our strategy of diversifying across new vertical markets and customers while continuously improving operational execution will translate into sustainable above market growth, greater operating leverage and increasing shareholder value."
"Given our strong order visibility and increasing customer demand, we are forecasting revenue in the $330 to $335 million range for the current quarter, representing a 35 to 37 % year-over-year increase," said Donald W. Palette, VP and CFO of Skyworks. "Operationally, we expect to deliver continued gross margin expansion and operating leverage yielding a 27-28 % non-GAAP operating margin. As a result, we intend to increase our non-GAAP diluted earnings per share to $0.44 in the December quarter."
Skyworks' Fourth Fiscal Quarter 2010 Conference Call
Skyworks hosted a conference call with analysts to discuss its fourth fiscal quarter 2010 results and business outlook yesterday.
Playback of the conference call will begin at 9:00 p.m. Eastern time on November 4, and end at 9:00 p.m. Eastern time on November 11. The replay will be available on Skyworks' Web site or by calling
888-203-1112 (domestic) or 719-457-0820 (international)
using pass code: 4785423.
Skyworks Solutions is an innovator of high reliability analog and mixed signal semiconductors. Leveraging core technologies, Skyworks offers diverse standard and custom linear products supporting automotive, broadband, cellular infrastructure, energy management, industrial, medical, military and mobile handset applications. The Company's portfolio includes amplifiers, attenuators, detectors, diodes, directional couplers, front-end modules, hybrids, infrastructure RF subsystems, mixers/demodulators, phase shifters, PLLs/synthesizers/VCOs, power dividers/combiners, receivers, switches and technical ceramics.
Headquartered in Woburn, Mass., Skyworks is worldwide with engineering, manufacturing, sales and service facilities throughout Asia, Europe and North America.
