Skyworks Solutions (NASDAQ: SWKS) is a semiconductor company that offers various products used in cars, phones, medical devices and more. The company produces diodes, amplifiers, wireless chips, and other circuits that it sells to various companies. Skyworks reported its earnings after the close of the market today. The company earned 43 cents per share of non-GAAP earnings or $78 million but GAAP Net Income was $47 million or 26 cents a share. Analysts had been expecting 40 cents per share. Revenue came in at $313.3 million, above the $310 million that Skyworks has raised its guidance to in September. This represents 37% year over year revenue growth. For the next quarter, the company guided to 44 cents per share on revenue of $330-$335 million.
Interesting highlights to note:
•Gross margins increased by 2.9% year-over-year to 43.8% on a non-GAAP basis and 43.5% on a GAAP basis
•Smart energy presence was extended by capturing design wins enabling LED-based streetlight monitors and controllers
•Shipped more than 4 million wireless connectivity solutions in support of the rapidly emerging tablet market
•Ramped shipments of ZigBee™ solutions targeting hospitality and security applications
•Gained traction at Huawei and ZTE with portfolio of high performance broadband synthesizers spanning ultra wide frequency ranges
•Secured reference design wins with Broadcom addressing HDTV, Blu-ray player, notebook, gaming console and smartphone platforms
•Designed into next-generation cable head-end distribution systems at Motorola
•Commenced volume production of analog components at Cisco for fiber to the curb (FTTC), fiber to the home (FTTH), cable set-top box and wireless video systems
Skyworks Solutions stock was up 4.04% today hitting a new 52-week high. The stock was down 1.31% after it reported, after hours.
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