Skyworks Reports Q2 FY19 Revenue of $810 Million

Skyworks has reported second fiscal quarter results for the period ended March 29, 2019. Revenue for the second fiscal quarter was $810.4 million.

Second Fiscal Quarter Business Highlights

  • Unveiled Sky5 Ultra and Sky5 LiTE for cellular applications      
  • Powered Google’s Pixel with a suite of front-end solutions      
  • Deployed SkyOne and DRx technology for Samsung’s flagship Galaxy S10 smartphones      
  • Secured 5G massive MIMO infrastructure wins with Ericsson and Nokia
  • Commenced volume production of ultra-compact mini circulators for 5G base stations   
  • Captured sockets in the first commercially ready 5G indoor access point      
  • Extended reach into aerospace and defense markets with the introduction of C-band filters      
  • Leveraged portfolio of analog SoCs across new high-fidelity gaming headsets and Samsung’s premium soundbars      
  • Expanded automotive footprint with LTE devices supporting eCall, remote entry and in-cabin entertainment features      
  • Launched Wi-Fi 6 engines at Aruba, Asus, Cisco, and NetGear
  • Enabled long-range M2M communications in smart meters and city street lighting  
  • Achieved Verizon certification for mobile IoT system-in-package deployments      
  • Ramped connectivity modules and analog control ICs for Arlo’s industry-leading security systems

Liam K. Griffin, president and CEO of Skyworks said that their advanced connectivity solutions are enabling the critical wireless protocols that form the backbone of today’s mobile economy. From data center to cloud, media and entertainment, to e-commerce and ride-hailing services, our innovative technology is underpinning the newest generation of connected applications. As the world transitions to 5G, these connections become increasingly more important. Through their unique systems expertise, strategic partnerships and global scale, Skyworks is well positioned to address the technical challenges and complexity of 5G, capitalizing on a new era of unprecedented opportunity.

On a GAAP basis, operating income for the second fiscal quarter of 2019 was $237.6 million with diluted earnings per share of $1.23. On a non-GAAP basis, operating income was $276.1 million with non-GAAP diluted earnings per share of $1.47.

Third Fiscal Quarter 2019 Outlook

“For the June quarter, we expect sequential revenue and earnings growth driven by strategic wins and content gains in mobile, as well as traction across diverse customers, markets and applications,” said Kris Sennesael, senior vice president and chief financial officer of Skyworks. “Specifically, in the third fiscal quarter of 2019, we anticipate revenue to be between $815 and $835 million with non-GAAP diluted earnings per share of $1.50 at the midpoint of our revenue range. Looking ahead, we are well positioned to outperform with seasonal product ramps and 5G gaining further traction.”