Generates $361 Million in Cash Flow from Operations
Guides Q2 FY18 Revenue up 6 to 8% Y-o-Y with Non-GAAP Diluted EPS up 10% Y-o-Y
Announces New $1 Billion Stock Buyback Plan and Raises Cash Return Targets to Shareholders
IRVINE, Calif., Feb. 5, 2018 - Skyworks Solutions, Inc. (NASDAQ: SWKS) an innovator of high performance analog semiconductors connecting people, places and things, today reported first fiscal quarter results for the period ending December 29, 2017. Revenue for the first fiscal quarter was $1.052 billion, up 7 percent sequentially and 15 percent year-over-year, exceeding consensus estimates.
On a GAAP basis, operating income for the first fiscal quarter of 2018 was $383.5 million with diluted earnings per share of $0.38, which includes $1.49 per share of one-time, tax-related expenses due to recently enacted tax legislation in the United States. On a non-GAAP basis, operating income was $414.0 million with record non-GAAP diluted earnings per share of $2.00, up 24 percent year-over-year and $0.09 better than consensus estimates.
“Skyworks exceeded $1 billion in quarterly revenue and achieved $2.00 per share in non-GAAP diluted EPS in Q1 FY18 driven by strong global demand for our wireless communications engines,” said Liam K. Griffin, president and chief executive officer of Skyworks. “As connectivity performance requirements intensify, Skyworks is leveraging our mixed signal expertise, scale and customer relationships to power the mobile economy and capitalize on several strategic growth catalysts. Our system solutions are enabling everything from industrial robotics to drones, autonomous vehicles, wireless infrastructure, home security systems and virtual assistants. Further, with the recent launch of our breakthrough Sky5™ platform, Skyworks is well positioned to accelerate 5G deployments and, ultimately, to extend our competitive advantage.”
The following information was filed by Skyworks Solutions, Inc. (SWKS) on Monday, February 5, 2018 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-Q Quarterly 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-Q Quarterly Report Accession Number: 0000004127-18-000011 Submitted to the SEC: Mon Feb 05 2018 5:16:15 PM EST Accepted by the SEC: Mon Feb 05 2018 Period: Friday, December 29, 2017 Industry: Semiconductors And Related Devices