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The Skyworks Is Falling

Shares in the wireless chip company slide after a top-line shortfall.

Skyworks (SWKS) - Get Free Report shares slid after the company warned of a revenue shortfall in its fiscal fourth quarter.

The Woburn, Mass., wireless chip and component maker now expects $190 million in sales for the quarter ended Sept. 30. Previous guidance called for a top line of $194 million. Analysts were looking for revenue of $198 million for the period.

The company blamed two factors for the lighter-than-expected sales: a payment to a customer that came out of revenue, and a shift in demand to newer gear that caused production delays.

"We are obviously disappointed with our preliminary fourth fiscal quarter results and are taking aggressive steps to eliminate supply chain bottlenecks, ensuring our ability to fully capture shifting customer demand going forward," said CEO Dave Aldrich, in a press release Monday.

Skyworks was down 71 cents, or 11%, to $5.90 in after-hours trading.