Skyworks Solutions has reported revenue for the third fiscal quarter of 2021 at $1.116 billion, up 52% year over year and exceeding consensus estimates. Liam K. Griffin, chairman, CEO and president of Skyworks said that Skyworks delivered record third quarter results, with strong year-over-year growth in both revenue and earnings per share. He also said that looking ahead, they expect continued momentum as they execute on strong design wins with their mobile and broad markets customers.
An expanding array of usage cases – from mobile to automotive, cloud computing and intelligent energy management – is accelerating the adoption of 5G across numerous end markets. Slyworks’ decades-long experience and deep customer relationships, combined with the strength and scale of their internal fabrication capabilities, position them to enable a broad set of applications and opportunities. Further, the recent addition of the Infrastructure and Automotive business of Silicon Labs immediately adds unique technologies as they expand their addressable markets and lead across a wide range of diversified and differentiated solutions.
Third Fiscal Quarter Business Highlights
- Expanded the reach of our Sky5 portfolio, powering upcoming smartphone launches at Tier-1 OEMs including Google, Oppo, Vivo and Xiaomi, among others
- Delivered Wi-Fi front-end modules to Facebook for their next-generation Portal devices
- Partnered with Linksys to debut the market’s first Wi-Fi 6E mesh network system
- Ramped Wi-Fi 6 and 6E platforms at Altice, Charter Communications and Aruba Networks
- Launched connected home and security solutions at Honeywell
- Shipped cognitive audio platforms to Samsung and Vizio for their home theater systems
- Captured design wins at Peloton supporting home fitness applications
- Leveraged our wireless infrastructure and small cell portfolio for European and Asian OEMs
- Enabled advanced telematics systems for the world’s leading automakers
Fourth Fiscal Quarter 2021 Outlook
Kris Sennesael, senior vice president and chief financial officer of Skyworks said that based on continued robust demand for connectivity solutions in mobile and broad markets and the inclusion of a partial quarter of revenue from the recently completed acquisition of the Infrastructure and Automotive business from Silicon Labs, Skyworks expect further strong year-over-year growth in the September quarter.
Specifically, in the fourth fiscal quarter of 2021, Skyworks anticipates revenue to be between $1.270 billion and $1.330 billion with non-GAAP diluted earnings per share of $2.53 at the midpoint of their revenue range, representing revenue growth of 36% and non-GAAP diluted earnings per share growth of 37%, compared to the fourth fiscal quarter of 2020. In addition, given Skyworks’ conviction in their strategic outlook and predictable strong cash generation, they are announcing another substantial increase to their quarterly dividend.
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