Skyworks Exceeds Second Fiscal Quarter 2017 Expectations

Skyworks Solutions has announced its second fiscal quarter results for the period ending March 31, 2017. The company exceeded expectations once again with $851.7 million in revenue generated for the second fiscal quarter which is up 10 percent for the same period last year.

The exceeded financial expectations in the second fiscal quarter of 2017, according to Skyworks, was driven by the growing mobile and Internet of Things ecosystems. Skyworks has been capitalizing on these powerful macrotrends, pushing the technology envelope and extending their product reach to enable the world’s most exciting communications platforms. At a higher level, the company is currently well positioned to create shareholder value while executing on ambitious vision of connecting everyone and everything, all the time.

Notable Highlights from the Second Fiscal Quarter Business Report:

  • Enabled Huawei’s P10/P10+ smartphones with low/mid/high band SkyOne solutions, antenna tuners, carrier aggregation switches and power management devices.
  • Powered Samsung’s Galaxy S8 platform with proprietary DRx and SkyOne content as well as GPS and DC/DC converters.
  • Secured reference design sockets across MediaTek’s next generation architectures.
  • Supported Cisco’s enterprise-grade MIMO gateways.
  • Captured strategic design wins with three leading auto manufacturers providing advanced LTE modules, supporting high-reliability connectivity, GPS and data transport capability.
  • Delivered analog control ICs for Nintendo’s recently launched Switch gaming consoles.
  • Ramped audio solutions for Sonos’ high-fidelity wireless speakers.
  • Extended Wi-Fi mesh networking wins to Google and Plume.
  • Deployed high-power smart meter devices for Itron.
  • Shipped custom connectivity engines to Fitbit, Garmin and LG.

On a GAAP basis, operating income for the second fiscal quarter of 2017 was $281.2 million with diluted earnings per share of $1.20. On a non-GAAP basis, operating income was reported at $312.5 million with non-GAAP diluted earnings per share of $1.45, up by 16 percent over the year and $0.05 better than consensus estimates.