Skyworks Solutions Q1 Report Beats Guidance
TipRanks | Jan 25, 2015 08:53AM ET
Skyworks Solutions (NASDAQ:SWKS) released its first quarter fiscal year 2015 earnings report on January 22nd. The semiconductor company exceeded guidance for both revenue and earnings per share, sparking a flurry of bullish ratings.
Skyworks posted quarterly revenue of $805.5 million, well above their original guidance of $770 million. The revenue figure represents a 59% year-over-year increase and a 12% sequential increase. This comes after the company’s Q4 report, which also boasted record-breaking results. The report posted earnings per share of $1.26 on a non-GAAP diluted basis, which topped estimates by $0.08 and represented an 88% year-over-year increase.
Looking forward, Skyworks CFO Donald W. Palette anticipates revenue of $750 million, a 56% year-over-year increase, and earnings per share of $1.12 on a non-GAAP diluted basis.
CEO David J. Aldrich noted, “Our business results are being fueled by a global surge in connectivity across a wide-ranging set of applications and by the increase in analog-rich content that is required to power today’s most innovative devices.” The report included several Q1 highlights, most of which were partnerships with other companies such as GM, Samsung, and LG. The report did not mention the flourishing sales of iPhones, seen to be a strong factor in Skyworks’ success because they supply the chips.
On January 22nd, analyst Moderate Buy .
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