Skyworks Solutions, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended January 1, 2016; Provides Earnings Guidance for the Second Quarter of 2016
January 29, 2016 at 02:51 am IST
Share
Skyworks solutions Inc. reported unaudited consolidated earnings results for the first quarter ended January 1, 2016. For the quarter, the company reported net revenue was $926.8 million compared to $805.5 million a year ago. Operating income was $330.5 million compared to $246.8 million a year ago. Income before income taxes was $418.2 million compared to $247.5 million a year ago. Net income was $355.3 million or $1.82 per diluted share compared to $195.2 million or $1.01 per diluted share a year ago. Non-GAAP operating income was $366.6 million compared to $282.0 million a year ago. Non-GAAP net income was $311.2 million or $1.60 per diluted share compared to $244.8 million or $1.26 per diluted share a year ago. Cash flow from operations was $345 million.
The company provided earnings guidance for the second quarter of 2016. For the quarter, the company expects revenue to be $775 million and non-GAAP diluted earnings per share to be $1.24. GAAP gross margin is estimated to be in the range of 50.1% to 50.6%. Non-GAAP gross margin estimate to be in the range of 50.5% to 51.0%.
Skyworks Solutions, Inc. specializes in the development, sales and marketing of high-performance, mixed signal semi-conductors. The products are designed for use in the following sectors: consumer electronics, IT, mobile communication systems and network infrastructures. They also provide solutions for automotive, RFID, industrial, medical, military and aerospatial applications to name but a few. The group offers amplifiers, attenuators, detectors, diodes, directional couplers, modules, radio frequency subsystems, isolators, modulators, optocouplers, optoisolators, phase shifters, switches and multiplexers, solutions for food management, etc.
At the end of September 2023, Skyworks Solutions, Inc. had 6 manufacturing sites located in the United States (2), Mexico (2), Japan and Singapore.
Net sales are distributed geographically as follows: the United States (75.5%), China (7.5%), Taiwan (7.2%), South Korea (4.2%), Asia/Pacific (1.3%) and Europe/Middle East/Africa (4.3%).
Skyworks Solutions, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended January 1, 2016; Provides Earnings Guidance for the Second Quarter of 2016