+44 (0)24 7671 8970
More publications     •     Advertise with us     •     Contact us
 
News Article

Skyworks soars exceeding revenue guidance

The company expects sequential growth in the current quarter to be driven by LTE and smartphone program ramps as well as increasing traction in adjacent high performance analogue applications

Skyworks Solutions has reported second fiscal quarter 2012 results.



Revenue for the quarter was $364.7 million, up 12 percent when compared to revenue of $325.4 million in the second fiscal quarter of 2011 and exceeding the company’s guidance of $360.0 million.

The company did not do as well as last year in terms of operating and net incomes, though.

On a GAAP basis, operating income for the second fiscal quarter of 2012 was $43.8 million and diluted earnings per share was $0.18. For the same period last year, operating income was recorded as $68.1 million.

Net income dropped from $50 million in Q2 FY2011 to $34 million in Q2 FY2012.

The firm generated $117 million of cash flow from operations, retired convertible bonds and achieved a debt-free balance sheet.

“Skyworks continues to outperform our addressable markets through diversification, content growth and market share gains,” said David J. Aldrich, president and chief executive officer of Skyworks. “At the highest level, we’re capitalising on the mobile Internet and demand for ubiquitous connectivity by solving our customers’ size, performance, complexity and battery life challenges."

"As a result, Skyworks is at the heart of the world’s most popular smartphones, tablets, ultrabooks and e-readers as well as within the supporting network infrastructure. Looking forward, based on recent design win momentum and the depth of our product pipeline, we’re well positioned to deliver accelerating growth,” he concluded.

Third Fiscal Quarter 2012 Outlook

“We expect both top and bottom line sequential growth in the current quarter driven by LTE and smartphone program ramps as well as increasing traction in adjacent high performance analogue applications,” said Donald W. Palette, vice president and chief financial officer of Skyworks. “Specifically, we expect revenue of $383 million.”

Conference Call Comments

In a conference call hosted by the company, Palette said, "We had three 10% customers for the quarter, and they were Foxconn, Samsung and Nokia". It was also revealed that two other firms who are close to the 10% mark are Chinese firms Huawei and ZTE.

Aldrich, President and CEO, mentioned that currently the firm's revenue was about 65% in the mobile space, and 35% came from its diversified HPA business, and within the high-performance analogue sector. He added, "And within that 65%, our goal would to be as diversified as we possibly can be with the products that we address."

Aldrich also commented, "We're seeing some strength in our Korean customer base, we're seeing strength with some of our Chinese customers like Huawei, our HPA portfolio is performing very well, the catalogue business is strong, and we're seeing WiFi in some of the connect rate with gaming and some of the home automation markets doing very well for us." He also mentioned that Skyworks was in avery strong position with the leading chipset provider and that he could see very good visibility into the chipset in the OEM side.

Regarding Nokia, Liam K. Griffin, Executive Vice President and General Manager, High Performance Analogue commented, " Nokia...are a 10% customer for us, and we have a very broad footprint from 3G, very high-end, even LTE-enabled phones, and in this year, down to the lower-end 2G business. We continue to work very hard to gain share. I think one of the things that you should expect from us, as we get into 2013, is to go beyond the power amplifier space. We're currently working with them on GPS products. We have a great opportunity for the antenna switch modules. And quite frankly, the power management IP that we bring forth today could be a real driver for us into 2013."
×
Search the news archive

To close this popup you can press escape or click the close icon.
×
Logo
×
Register - Step 1

You may choose to subscribe to the Compound Semiconductor Magazine, the Compound Semiconductor Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in: