Skyworks Revenue Down 7.8 Y/Y, Up 8% Sequentially

  • Delivers Revenue of $896 Million, Up 8% Sequentially
  • Posts GAAP Diluted EPS of $1.50; Non-GAAP Diluted EPS of $1.68
  • Generates $398 Million in Cash Flow from Operations
  • Guides to Better-than-Seasonal Revenue Trends in Q2 FY20

Skyworks exceeded December quarter expectations driven by global demand for our high performance connectivity engines…Leveraging decades of experience, manufacturing scale and vertical integration capabilities, our highly advanced Sky5® platform is fueling market adoption of 5G across a broadening customer set. With an expansive suite of applications − from smartphones to wireless infrastructure, industrial robotics, autonomous vehicles, smart homes and virtual assistants − our solutions provide the critical connection, ensuring peak performance for 5G and IoT usage cases. At the same time, through crisp operational execution and a strong business model, we are translating these results into long-term shareholder value. – Liam K. Griffin, President and CEO

Skyworks Solutions, an innovator of high-performance analog semiconductors connecting people, places and things, reported Q1 earnings for the ending December 27, 2019, after the close.   Though beating expectations and raising guidance, the stock is down in after-hours trading on news  Broadcom announced some of its subsidiaries have entered into two separate multi-year statements of work agreements with Apple Inc..

First Fiscal Quarter Business Highlights

  • Ramped Sky5® portfolio across Oppo, Vivo and Xiaomi 5G mobile platforms
  • Powered rapidly emerging 5G massive IoT applications with cellular-based solutions certified by KDDI, NTT Docomo, SoftBank and Verizon
  • Advanced automotive content with SkyOne®, Wi-Fi 6 and V2X portfolio
  • Extended market leadership position in high-speed 802.11ax access points with advanced 2.4 and 5 GHz FEMs
  • Introduced Bluetooth® Low Energy modules for Proctor & Gamble’s infant monitoring system
  • Leveraged Zigbee®, Thread and Bluetooth® Low Energy architectures for extended-range smart gas meter applications
  • Commenced volume production of Wi-Fi 6 connectivity engines for ZTE and Belkin/Linksys
  • Supported GoPro’s next-generation wearable, waterproof action camera with GPS technology
  • Shipped LoRa devices powering premium home security platforms
  • Expanded infrastructure footprint with 5G massive-MIMO and small cell base station design wins