Skyworks Media Relations: Skyworks Investor Relations:
Pilar Barrigas Stephen Ferranti
(949) 231-3061 (781) 376-3056
Skyworks Delivers $402.3 Million in Revenue and
$0.54 of Non-GAAP Diluted EPS ($0.34 GAAP) in Q4 FY11
Posts 28 Percent Year-Over-Year and 13 Percent Sequential Revenue Growth
Expands Operating Margin 110 Basis Points Year-Over-Year to 27.2 Percent on a Non-GAAP Basis (19.3 Percent GAAP)
Generates $123 Million in Cash Flow from Operations
Exits the Quarter with $411 Million in Cash
WOBURN, Mass., Nov. 3, 2011 - Skyworks Solutions, Inc. (NASDAQ: SWKS), an innovator of high reliability analog and mixed signal semiconductors enabling a broad range of end markets, today reported fourth fiscal quarter and year end 2011 results. Revenue for the quarter was $402.3 million versus guidance of $400 million, and was up 28 percent year-over-year and 13 percent sequentially. For fiscal year 2011, revenue was $1.419 billion versus $1.072 billion in fiscal 2010, a 32 percent increase.
On a non-GAAP basis, operating income for the fourth fiscal quarter was $109.4 million, up from $81.8 million in the prior-year period, reflecting a 34 percent increase. Non-GAAP diluted earnings per share for the fourth fiscal quarter was $0.54 compared to $0.43 for the same period a year ago, a 26 percent improvement. On a GAAP basis, operating income for the fourth fiscal quarter of 2011 was $77.7 million and diluted earnings per share was $0.34.
For fiscal 2011, operating income was $384.7 million on a non-GAAP basis, up 56 percent from $246.3 million in fiscal 2010, while non-GAAP diluted earnings per share for the year was $1.89 compared to $1.26 in fiscal 2010, a 50 percent improvement. On a GAAP basis, operating income for fiscal 2011 was $295.3 million and diluted earnings per share was $1.19.
“Skyworks' solid performance demonstrates the strength of our diversified business model, continued share gains and operational leverage,” said David J. Aldrich, president and chief executive officer of Skyworks. “At a higher level, despite the current economic environment, we believe that long-term industry fundamentals remain strong as analog content and complexity continue to increase. Given our differentiated product portfolio, technology leadership, broad customer engagements and scale, Skyworks is strategically well positioned to capitalize on the growing number of platforms that are becoming wirelessly enabled and, in turn, to outperform our addressed markets.”
The following information was filed by Skyworks Solutions, Inc. (SWKS) on Thursday, November 3, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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Ticker: SWKS CIK: 4127 Form Type:10-K Annual Report Accession Number: 0000004127-11-000015 Submitted to the SEC: Mon Nov 28 2011 4:52:58 PM EST Accepted by the SEC: Mon Nov 28 2011 Period: Friday, September 30, 2011 Industry: Semiconductors And Related Devices