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Skyworks Exceeds Q3 FY16 Expectations

WOBURN, Mass.--(BUSINESS WIRE)--

Skyworks Solutions, Inc. (SWKS) an innovator of high performance analog semiconductors connecting people, places and things, today reported third fiscal quarter results for the period ending July 1, 2016. Revenue for the third fiscal quarter was $751.7 million, exceeding the Company’s guidance and First Call consensus estimates.

On a GAAP basis, operating income for the third fiscal quarter of 2016 was $238.6 million with diluted earnings per share of $0.97. On a non-GAAP basis, operating income for the third fiscal quarter of 2016 was $274.7 million with non-GAAP diluted earnings per share of $1.24, $0.03 better than guidance and First Call consensus estimates.

“Skyworks exceeded expectations in the third fiscal quarter of 2016 driven by increasing global demand for high-speed connectivity coupled with strong operational execution,” said Liam K. Griffin, president and chief executive officer of Skyworks. “Our highly integrated solutions are enabling a broad array of applications ranging from streaming media to e-commerce to cloud-based services. Specifically, we are capturing performance-driven content gains within the world’s premium mobile platforms while expanding our customer and end-market reach across the Internet of Things. Accordingly, we are planning for sustained market outperformance with operating leverage.”

Third Fiscal Quarter Business Highlights

  • Supported Huawei’s P9 platform incorporating 10 unique devices including SkyOne® systems across low, mid and high bands
  • Launched advanced carrier aggregation capabilities at multiple smartphone OEMs
  • Ramped SkyBlue™ technology enabling enhanced power management and LED flash drivers
  • Commenced volume production of proprietary diversity receive solutions
  • Expanded antenna tuning portfolio enabling higher data rates and smaller footprints
  • Secured...

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