Skyworks Solutions, Inc. (SWKS) SEC Filing 10-K Annual report for the fiscal year ending Friday, September 29, 2017

Exhibit 99.1

 

 

Skyworks Media Relations:	Skyworks Investor Relations:
Pilar Barrigas	Mitch Haws
(949) 231-3061	(949) 231-3223

 

Skyworks Exceeds Q4 FY17 Expectations

 

·                  Delivers Record Revenue of $984.6 Million, Up 18% Y-o-Y

·                  GAAP Operating Margin 35.1%; Non-GAAP Operating Margin 38.5%

·                  GAAP Diluted EPS $1.51, Up 15% Y-o-Y; Non-GAAP Diluted EPS $1.82, Up 24% Y-o-Y

·                  Generates $425.4 Million in Cash Flow from Operations

·                  FY17 Revenue of $3.7 Billion; $5.41 in GAAP Diluted EPS and $6.45 in Non-GAAP Diluted EPS; $1.5 Billion in Cash Flow from Operations

·                  Guides Q1FY18 Revenue Up 15% Y-o-Y and Non-GAAP Diluted EPS Up 19% Y-o-Y

 

IRVINE, Calif., Nov. 6, 2017 —

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 29, 2017.  Revenue for the fourth fiscal quarter was $984.6 million, up 18 percent year-over-year and exceeding consensus estimates.

 

On a GAAP basis, operating income for the fourth fiscal quarter of 2017 was $345.9 million with diluted earnings per share of $1.51.  On a non-GAAP basis, operating income was $379.2 million with non-GAAP diluted earnings per share of $1.82, up 24 percent year-over-year and $0.07 better than consensus estimates.

 

For fiscal year 2017, revenue was a record $3.7 billion, up 11 percent year-over-year, with GAAP diluted earnings per share of $5.41 and cash flow from operations of $1.5 billion.  Non-GAAP diluted earnings per share for fiscal year 2017 was also a record $6.45, up 16 percent year-over-year.

 

“Skyworks is capitalizing on global demand for connectivity across Mobile and Internet of Things ecosystems as demonstrated by our record fourth quarter and fiscal 2017 performance,” said Liam K. Griffin, president and chief executive officer of Skyworks.  “The connected economy is gaining significant momentum and enhancing the way we live, work, play and educate.  At the same time, the broad range of usage cases and expanding scope of newly connected platforms are crowding radio spectrum and stressing network capacity.  These dynamics portend a digital traffic jam while creating a tremendous opportunity.  Given our strategic investments, technology breadth and differentiated system solutions, Skyworks is well positioned to empower revolutionary 5G applications, enabling up to 100x