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Skyworks Exceeds Updated Q4 FY12 Revenue And EPS Guidance

Stocks in this article: SWKS

Skyworks Solutions, Inc. (NASDAQ: SWKS), an innovator of high performance analog semiconductors enabling a broad range of end markets, today reported fourth fiscal quarter and year end 2012 results for the period ending September 28, 2012. Revenue for the quarter was $421.1 million, up 8.2 percent sequentially and exceeded the Company’s updated guidance of $420 million provided during its analyst day on September 20, 2012.

On a non-GAAP basis, operating income for the fourth fiscal quarter of 2012 was $103.6 million, up from $91.7 million in the third fiscal quarter of 2012, reflecting a 13 percent increase. Non-GAAP diluted earnings per share for the fourth fiscal quarter was $0.53 compared to $0.45 for the prior fiscal quarter, representing an 18 percent sequential improvement. On a GAAP basis, operating income for the fourth fiscal quarter of 2012 was $74.8 million and diluted earnings per share was $0.32.

For fiscal year 2012, revenue was $1.569 billion, up 11 percent versus $1.419 billion in fiscal 2011. For fiscal 2012, non-GAAP diluted earnings per share was $1.90 and GAAP diluted earnings per share was $1.05.

“Skyworks is capitalizing on global mobile connectivity ubiquity and demand for high performance analog solutions across a diverse set of vertical markets,” said David J. Aldrich, president and chief executive officer of Skyworks. “Interrelated macro trends such as social networking, cloud-based content and the explosion of audio and video streaming are driving increased semiconductor content and complexity in smartphones, tablets, ultrabooks and e-readers as well as within the supporting network infrastructure. At the same time, wireless and power management functionality is rapidly proliferating across adjacent applications spanning machine-to-machine, automotive, broadband, home automation, smart grid and medical markets. Given our differentiated product portfolio, engagements with all key OEMs and scale, Skyworks is well positioned to continue to gain market share, capture additional content per platform and, as a result, significantly outperform our addressed markets throughout fiscal 2013.”

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