News Article
Skyworks Revenues Rocket to $335.1 Million
The firm’s financial success is mainly down to the rapidly emerging tablet market using wireless connectivity compatible with all major mobile operating systems.
Skyworks Solutions, an innovator of high reliability analogue and mixed signal semiconductors has reported first fiscal quarter 2011 results.
Revenue for the quarter was $335.1 million, up 37 % when compared to $245.1 million in the first fiscal quarter of 2010, versus $313.3 million last quarter.
On a GAAP basis, operating income and margin for the first fiscal quarter of 2011 were $77.3 million and 23.1 %, respectively, and diluted earnings per share was $0.32.
"Skyworks is enabling wireless broadband connectivity across multiple high growth platforms including smartphones, tablets, smart grids and home automation systems, as well as within the supporting network infrastructure," said David J. Aldrich, President and CEO of Skyworks. "At a higher level, our goal remains to diversify across new vertical markets, develop differentiated products and deliver operational excellence, positioning us to outperform our addressed markets and increase shareholder returns."
The firm’s GAAP gross margin also increased by 250 basis points year-over-year to 44.3 %.
Skyworks has supported the rapidly emerging tablet market with wireless connectivity solutions compatible with all major mobile operating systems. It has also ramped production of analogue components supporting Cisco and Motorola's fibres to home applications.
Having secured design wins with Johnson Controls in support of its HomeLink automotive system, the Skyworks system is now being adopted by vehicle manufacturers worldwide. Skyworks also partnered with Ember to deliver innovative ZigBee solutions for the energy management, home area network and industrial automation markets.
Skyworks also launched analogue control ICs for the Nintendo 3DS gaming system and unveiled silicon RF limiters for military radar receiver applications. The company also captured multiple base station transceiver sockets with global infrastructure providers supporting LTE, GSM and femtocell platforms.
Having powered HTC's next generation smartphones with highly integrated front-end modules, Skyworks claims to have enabled the first commercial LTE handset on a 4G network to allow consumers anytime, anywhere connectivity at data rates up to 100 mega bits per second.
"Based on overall business momentum and the ramp of new applications, we anticipate 30 to 34 percent year-over-year revenue growth in the second fiscal quarter of 2011," said Donald W. Palette, VP and CFO of Skyworks. "Specifically, we expect revenue in the $310 to $320 million range, significantly better than normal seasonality for the March quarter, with non-GAAP diluted earnings per share of $0.38 to $0.40."
Skyworks discussed its first fiscal quarter 2011 results and business outlook in a conference call.
Playback of the conference call will end at 9:00 p.m. Eastern time on January 27. The replay will be available on Skyworks' website or by calling
888-203-1112 (from the U.S.) or
719-457-0820-457-0820 (outside the U.S.)
The pass code is 1099493.
