- Delivers Revenue of $810 Million, Up 38% Year-over-Year
- Generates Non-GAAP Operating Margin of 36.5% (32% GAAP)
- Posts $1.34 of Non-GAAP Diluted EPS ($1.06 GAAP), Up 61% Year-over-Year
- Guides to Q4 Revenue of $875 Million, Non-GAAP Gross Margin of 50%, and Non-GAAP Diluted EPS of $1.51
WOBURN, Mass. — (BUSINESS WIRE) — July 23, 2015 — Skyworks Solutions, Inc. (NASDAQ: SWKS), an innovator of high performance analog semiconductors connecting people, places and things, today reported third fiscal quarter results for the period ending July 3, 2015. Revenue for the third fiscal quarter was $810.0 million, up 38 percent year-over-year and exceeding the Companys guidance of $800 million.
On a non-GAAP basis, operating income for the third fiscal quarter of 2015 was $295.4 million, up 65 percent from $179.1 million in the third fiscal quarter of 2014. Non-GAAP diluted earnings per share for the third fiscal quarter was $1.34, $0.06 better than guidance and up more than 61 percent from the $0.83 reported for the third fiscal quarter of 2014. On a GAAP basis, operating income for the third fiscal quarter of 2015 was $258.8 million and diluted earnings per share was $1.06.
As the world becomes more interconnected, we are capitalizing on powerful secular growth trends, including the rising adoption of streaming media services, the proliferation of connectivity in emerging markets, and the Internet of Thingsall of which are driving growth well in excess of the broader semiconductor market, said David J. Aldrich, chairman and chief executive officer of Skyworks. At the same time, our industry-leading systems solutions are facilitating an expansion of our addressable markets, creating more strategic customer relationships, and enhancing the financial returns of our Company. Looking ahead, we see tremendous opportunity to leverage our capabilities across a broadening set of markets and applications.
Q3 Business Highlights
- Extended automotive telematics line-up with front-end solution wins in Subarus 2016 models, complementing prior wins at Audi and GM
- Launched SkyOne® Mini and diversity modules in ZTEs Star-II LTE platform
- Powered Gemaltos M2M solutions for industrial and transportation applications
- Unveiled Zigbee® analog front-ends in Home Depots smart lighting solutions
- Expanded participation in Xiaomis smartphone portfolio, adding antenna switch and connectivity modules for LTE models targeting India
- Gained connectivity IC wins in set-top box application with Liberty Global
- Supported Huaweis Honor smartphone platform with a suite of six devices addressing transmit, antenna tuning, and switch functionality
- Delivered SkyOne® with embedded carrier aggregation and power management for 4G personal hotspot applications
- Secured $14 of new content in femtocell design alongside leading SoC partner
- Enabled Meizus 4G smartphone portfolio with SkyLiTE® solutions supporting Mediateks latest generation octa-core chipset
Fourth Fiscal Quarter 2015 Outlook
We are successfully leveraging our systems portfolio to strengthen our competitive position and create more value for our customerstranslating into enhanced shareholder returns, said Donald W. Palette, executive vice president and chief financial officer of Skyworks. For the fourth fiscal quarter of 2015, we anticipate revenue of $875 millionwith non-GAAP gross margin in the 50 percent range and non-GAAP operating margin above 38 percent. From this new baseline of profitability, we forecast non-GAAP diluted earnings per share of $1.51.
For further information regarding use of non-GAAP measures in this press release, please refer to the Discussion Regarding the Use of Non-GAAP Financial Measures set forth below.
As previously announced on June 18, 2015, Skyworks Board of Directors declared a cash dividend of $0.26 per share of the Companys common stock, payable on August 27, 2015 to stockholders of record at the close of business on August 6, 2015.
Skyworks' Third Fiscal Quarter 2015 Conference Call
Skyworks will host a conference call with analysts to discuss its third
fiscal quarter 2015 results and business outlook today at 5:00 p.m.
Eastern time. To listen to the conference call via the Internet, please
visit the investor relations section of Skyworks' website. To listen to
the conference call via telephone, please call 800-230-1059 (domestic)
or 612-234-9959 (international), confirmation code: 364209.