Skyworks Exceeds Third Quarter FY17 Expectations

SkyworksSkyworks Solutions reported its third fiscal quarter results for the period ending June 30, 2017. Revenue for the third fiscal quarter was up 20 percent year-over-year at $900.8 million, exceeding consensus estimates.

Their performance is being driven by global demand for Skyworks’ highly integrated and ultra-efficient connectivity engines. As system-level complexity and performance requirements intensify across mobile and Internet of Things ecosystems, they are extending their product reach and capturing more content per platform. They are also well positioned to capitalize on the rapidly approaching 5G technology wave – enabling new markets from autonomous vehicles to emerging segments in artificial intelligence, robotics and virtual reality.

Third Fiscal Quarter Business Highlights 

  • Supported Huawei’s feature-rich smartphones with SkyOne® product suite 
  • Extended proprietary DRx™ solutions across Samsung’s Galaxy platforms 
  • Delivered ZigBee® and Wi-Fi devices for Amazon’s virtual assistants 
  • Commenced volume production of 802.11p modules for vehicle-to-vehicle communications 
  • Ramped advanced 4G/LTE MIMO solutions with leading infrastructure OEMs 
  • Captured design wins with the leading supplier of 4K surveillance cameras 
  • Released optocouplers supporting healthcare monitoring systems 
  • Launched home security sensors and motion detectors at Honeywell and Bosch 
  • Unveiled industry's first high-efficiency License Assisted Access (LAA) solutions for small cells 
  • Powered NetGear’s next generation mesh networks for the connected home 
  • Enabled cellular telematics platforms in support of a Chinese auto manufacturer 

According to their CFO Kris Sennesael, given their design win momentum and new product pipeline, they intend to sustainably outpace growth in their addressable markets. For the fourth fiscal quarter of 2017, they expect revenue to be up 17 percent year-over-year with further gross and operating margin expansion. Specifically, they plan to deliver record financial results with revenue of $980 million and non-GAAP diluted earnings per share of $1.75.

Click here for the for more information on their financial results.

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