Skyworks Shows Strong Q4 Earnings, Beats Analyst Estimates Once Again

Skyworks Solutions, an innovator of high-performance analog semiconductors connecting people, places and things, reported their fourth fiscal quarter and fiscal year-end results for the period ended Oct. 2, 2020. Revenue for the fourth fiscal quarter of 2020 was $956.8 million, up 30% sequentially and exceeding consensus estimates. 

Liam K. Griffin, President and CEO of Skyworks, stated that Skyworks significantly exceeded September quarter expectations in revenue and earning per share, capping off a fiscal year that both tested and demonstrated the resilience of their business model. With 5G technology launches now well underway, they are ramping their innovative Sky5® solutions in a rapidly expanding set of end markets, from mobile to IoT, automotive and wireless infrastructure. Increased demand for reliable, ultra-fast wireless connections in homes, businesses, schools and medical facilities is driving strong momentum throughout their product portfolio, positioning Skyworks for continued growth.

Fourth Fiscal Quarter Business Highlights

  • Accelerated ramp of Sky5® portfolio, supporting 5G launches at Samsung, Oppo, Vivo, Xiaomi and other Tier-1 players
  • Enabled touchless Point of Sale systems at Square
  • Delivered 802.11ax Wi-Fi solutions for access points for Amazon eero™
  • Ramped Wi-Fi 6 solutions for advanced routers at NETGEAR and ASUS
  • Supported Facebook’s new Oculus AR/VR devices
  • Introduced new embedded modules powering Fibocom’s enterprise IoT applications
  • Powered critical medical applications at Boston Scientific and General Electric
  • Shipped low-latency wireless audio solutions, enabling leading gaming headsets at Logitech, Razer and Sony
  • Launched high-speed, connected-car solutions for Daimler and leading Korean and Japanese automotive OEMs
  • Captured design wins for residential gateways at Verizon and Telecom Italia
  • Secured design wins in 5G wireless infrastructure deployments, powering MIMO base stations and small cell installations

First Fiscal Quarter 2021 Outlook

Skyworks provides earnings guidance on a non-GAAP basis because certain information necessary to reconcile such guidance to GAAP is difficult to estimate and dependent on future events outside of our control. Please refer to the attached Discussion Regarding the Use of Non-GAAP Financial Measures in this press release for a further discussion of our use of non-GAAP measures, including quantification of known expected adjustment items.

“We expect double-digit sequential revenue and earnings growth in the December quarter, fueled by content gains and product ramps across multiple 5G-enabled smartphone platforms and increased demand across our broad markets portfolio,” said Kris Sennesael, senior vice president and chief financial officer of Skyworks. “Specifically, in the first fiscal quarter of 2021, we anticipate revenue to be between $1,040 million and $1,070 million with non-GAAP diluted earnings per share of $2.06 at the midpoint of our revenue range.”

Skyworks’ Fourth Quarter 2020 Conference Call

Skyworks hosted a conference call with analysts to discuss its fourth quarter fiscal 2020 results and business outlook on Nov. 2, 2020 at 4:30 p.m. EST. Playback of the conference call will begin at 9 p.m. EST on Nov. 2, 2020, and end at 9 p.m. EST on Nov. 9, 2020. The replay will be available on Skyworks’ website or by calling (800) 585-8367 (domestic) or (416) 621-4642 (international), Conference ID: 4588640.