Generates Record Cash Flow from Operations of $455.0 Million
Repurchases 3 Million Shares
Guides to 7% to 9% Sequential Revenue Growth
IRVINE, Calif., Nov. 3, 2016 - Skyworks Solutions, Inc. (NASDAQ: SWKS) an innovator of high performance analog semiconductors connecting people, places and things, today reported fourth fiscal quarter and year-end results for the period ending September 30, 2016. Revenue for the fourth fiscal quarter was $835.4 million, up 11 percent sequentially, exceeding the Company’s guidance and consensus estimates.
On a GAAP basis, operating income for the fourth fiscal quarter of 2016 was $291.9 million with diluted earnings per share of $1.31. On a non-GAAP basis, operating income was $318.4 million with non-GAAP diluted earnings per share of $1.47, $0.04 better than the Company’s guidance and consensus estimates. Cash flow from operations for the quarter was $455.0 million.
For fiscal year 2016, revenue was a record $3.3 billion with GAAP diluted earnings per share of $5.18 and cash flow from operations of $1.1 billion. Non-GAAP diluted earnings per share for fiscal year 2016 was $5.57.
“As our results and outlook reflect, Skyworks is capitalizing on the strength of both Mobile and Internet of Things ecosystems,” said Liam K. Griffin, president and chief executive officer of Skyworks. “Specifically, we are in the midst of a dramatic sea change in the usage case for wireless technologies and the way they are transforming how we live, work and play. As a virtual hub for e-commerce, enterprise to the cloud, social media, gaming and entertainment, mobile devices are rapidly evolving to address the massive demand for data and speed across an increasingly crowded spectrum. Skyworks is resolving this daunting complexity with customized system-level solutions to ultimately improve the user experience with higher levels of efficiency, enhanced streaming capabilities and expanded network coverage. As a
The following information was filed by Skyworks Solutions, Inc. (SWKS) on Thursday, November 3, 2016 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: 0000004127-16-000068 Submitted to the SEC: Tue Nov 22 2016 4:24:26 PM EST Accepted by the SEC: Tue Nov 22 2016 Period: Friday, September 30, 2016 Industry: Semiconductors And Related Devices