Updated from 4:57 p.m. EDT

Skyworks Solutions ( SWKS) began its new life as a restructured company by nearly tripping its quarterly profit.

The Woburn, Mass., chipmaker said it earned $12 million in net income, or 7 cents a share, in its fiscal first quarter. At this time last year, Skyworks had a net income of $4.3 million.

Excluding restructuring charges and other items, Skyworks said it earned 13 cents a share in the three months ended December 29, with sales of $196 million - meeting Wall Street expectations on both counts.

In October, Skyworks said it was immediately exiting the business of selling baseband chips for cell phones, focusing instead on other components such analog and radio frequency chips.

"Our record first fiscal quarter results demonstrate the financial leverage of the new Skyworks operating model," said CEO David Aldrich in a statement. "With intensified focus on our differentiated product portfolio and increasing profitability, we plan to build on this foundation as we set the stage for several program ramps in 2007."

In recent months, there has been speculation that the company may be providing some of the chips in Apple's ( AAPL) forthcoming, and much-hyped, iPhone. Skyworks did not mention the iPhone in a list of first-quarter highlights that included business ties with handset makers Sony Ericsson, LG Electronics and Samsung.

Among the new products slated to hit the market over the coming months, Skyworks management pointed to next-generation Wi-Fi chips, or 802.11N, as well as wireless infrastructure chips that support 3G technology, and the emerging WiMax standard.

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