News Article
Skyworks soaring with 37 % revenue increase
Revenue in the seasonally low March quarter was $325.4 million, above the Company's guidance range of $310 to $320 million, and up 37 % when compared to $238.1 million in the second fiscal quarter of 2010.
Skyworks Solutions, an innovator of high reliability analogue and mixed signal semiconductors enabling a broad range of end markets, has reported second fiscal quarter 2011 results.
Revenue in the seasonally low March quarter was $325.4 million, above the Company's guidance range of $310 to $320 million, and up 37 % when compared to $238.1 million in the second fiscal quarter of 2010.
On a GAAP basis, operating income for the second fiscal quarter of 2011 was $68.1 million and diluted earnings per share was $0.26.
"Skyworks is capitalising on consumers' skyrocketing demand to be connected anytime and anywhere via smart phones, tablets and home automation systems in addition to energy management solutions and supporting network infrastructure," said David J. Aldrich, president and chief executive officer of Skyworks.
"The growth in analogue semiconductor content associated with this increasing demand plays directly to Skyworks' technology leadership and scale. Given our momentum across these mobile connectivity applications, our diverse customer partnerships and traction in new markets, we are well positioned to demonstrably outpace industry growth during the remainder of this fiscal year, through fiscal 2012 and beyond."
Over the last quarter, the company expanded its year-over-year gross margin by 160 basis points to 43.3 % on a GAAP basis. Skyworks also secured analogue design wins with STMicroelectronics for their next generation IP television chip set and supported general dynamics with high power switching solutions for military land mobile radios.
The firm ramped production of precision analogue ICs supporting enterprise access points, cable set-top boxes and wireless video systems and captured multiple infrastructure sockets with Ericsson, Huawei and ZTE for WCDMA base station transceivers.
Skyworks also introduced a family of antenna switch modules for smart phones, tablets and datacards supporting 3G handsets and HSPA+/LTE-enabled devices. It also announced that its modules power HTC's next generation Android-based smart phones and newest tablet offering with front-end solutions.
The company also received a Best Quality award from Samsung for excellence in overall product quality and supply-chain efficiency.
With respect to the next quarter, Donald W. Palette, vice president and chief financial officer of Skyworks said, "Based on our broad customer base, diversification into new markets and increasing share gains, we are again planning to grow faster than our addressable market in the third fiscal quarter of 2011. Specifically, we expect revenue of approximately $345 million with non-GAAP diluted earnings per share of $0.46."
Skyworks hosted a conference call with analysts to discuss its second fiscal quarter 2011 results and business outlook. A replay of the conference call will be available on Skyworks' Web site or by calling
888-203-1112 (from USA) or 719-457-0820 (from outside USA), using pass code: 1159221
