How do you like these apples?!?!
Skyworks Exceeds Q2 FY15 Revenue and EPS Guidance
Delivers Revenue of $762 Million, up 58% Year-over-Year
Increases Non-GAAP Operating Income by 99% Year-over-Year
Posts $1.15 of Non-GAAP Diluted EPS ($0.85 GAAP), up 85% Year-over-Year
Guides to Q3 Revenue of $800 Million with 130 Basis Point Sequential Increase in Gross Margin, Driving Non-GAAP Diluted EPS of $1.28
WOBURN, Mass.–(BUSINESS WIRE)-- Skyworks Solutions, Inc. (NASDAQ: SWKS) an innovator of high performance analog semiconductors connecting people, places and things, today reported second fiscal quarter results for the period ending April 3, 2015. Revenue for the second fiscal quarter was $762.1 million, up over 58 percent year-over-year and exceeding the Company’s original guidance of $750 million.
On a non-GAAP basis, operating income for the second fiscal quarter of 2015 was $258.9 million, up 99 percent from $130.4 million in the second fiscal quarter of 2014. Non-GAAP diluted earnings per share for the second fiscal quarter was $1.15, three cents better than guidance and up more than 85 percent from the $0.62 reported for the second fiscal quarter of 2014. On a GAAP basis, operating income for the second fiscal quarter of 2015 was $219.9 million and diluted earnings per share was $0.85.
“Skyworks’ outperformance underscores the success of our diversification strategy, as positive momentum across our customer base, end markets and product lines helped to mitigate normal March quarter seasonality,” said David J. Aldrich, chairman and chief executive officer of Skyworks. “Our business continues to perform at a high level, as we capitalize on a number of powerful global trends driving the proliferation of connectivity in all of its forms. By leveraging our architectural and integration leadership, we continue to enhance our competitive differentiation, expanding profitability and creating greater value for our customers and shareholders.”
Q2 Business Highlights
Powered Sierra Wireless’ M2M modules for use in industrial applications
Enabled Samsung’s Galaxy S6 platform with SkyOne® Ultra, switching and connectivity products
Launched integrated Wi-Fi module for the leading video monitoring provider
Secured multiple design wins for OnStar telematics platform in GM’s global fleet
Ramped switching and connectivity solutions for Nexus 6 smartphones
Gained high reliability analog content in public safety radios for Harris and Sepura
Expanded diversity receive portfolio to support multiple device configurations
Delivered Zigbee® front-end modules for Kwikset’s intelligent security products
Captured over 20 sockets in a next-generation small cell LTE base station
Introduced 802.11ac front-end solutions for Xiaomi’s latest home router platform
Third Fiscal Quarter 2015 Outlook
“As the market leader in complex analog and RF integration, we are the primary beneficiary of the industry’s increasing adoption of systems solutions,” said Donald W. Palette, executive vice president and chief financial officer of Skyworks. “This is transforming our business model, as evidenced by our margin expansion, driving strong financial returns. For the third fiscal quarter of 2015, we anticipate revenue to be $800 million with gross margin of 48 percent, creating a new baseline of profitability and resulting in diluted earnings per share of $1.28 on a non-GAAP basis.”
long & longer, with organic & acquisitive growth in my folio, on SWKS!