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Skyworks Solutions Posts 4Q Results [Professional Services Close - Up](Professional Services Close - Up Via Acquire Media NewsEdge) Skyworks Solutions reported fourth fiscal quarter and year-end results for the period ending Oct. 3. In its release on Nov. 6, the Company said revenue for the fourth fiscal quarter was $718.2 million, up 51 percent year-over-year and 22 percent sequentially, consistent with the updated outlook provided on Oct. 14, and exceeding the Company's original guidance midpoint of $680 million. On a non-GAAP basis, operating income for the fourth fiscal quarter of 2014 was $235.7 million, up 81 percent from $130.3 million in the fourth fiscal quarter of 2013. Non-GAAP diluted earnings per share for the fourth fiscal quarter of 2014 was $1.12, including a $0.03 fiscal year-end tax benefit, compared to $0.64 for the prior year fourth fiscal quarter. On a GAAP basis, operating income for the fourth fiscal quarter of 2014 was $198.1 million and diluted earnings per share was $0.90. For fiscal year 2014, revenue was $2.3 billion, up 28 percent from fiscal 2013, while non-GAAP diluted earnings per share was $3.24, up 47 percent year-over-year. GAAP diluted earnings per share for fiscal 2014 was $2.38. "Skyworks is aggressively executing on our strategy to deliver sustainable, above market growth with diversified analog semiconductor returns," said David Aldrich, chairman and chief executive officer of Skyworks. "Our advanced solutions are at the heart of mobile connectivity and the Internet of Things, and are empowering exciting new applications spanning mobile payments, to streaming music services, to on-demand media. Given our accelerating design win momentum and deep product pipeline, we have never been better positioned to grow demonstrably faster than our addressable markets and in turn, to deliver best-in-class financial returns." Q4 Business Highlights -Ramped high performance analog control ICs at GoPro for action video cameras -Commenced volume production of custom 4G/LTE modules leveraging proprietary TC-SAW filter technology -Introduced low power Bluetooth solutions for Tile, Inc. item location applications -Unveiled diversity receive modules for LTE smartphones -Delivered switching and connectivity modules for Xiaomi's Mi3 platform -Expanded wearable designs, including three new Smartwatch programs -Enabled ZigBee-based thermostat and lighting platforms at GE and iControl -Supported Rockwell Collins with GPS applications supporting avionics -Captured short range communications sockets at General Motors for collision avoidance systems -Powered Netgear's 9-stream routers with 802.11ac solutions Dividend Increase Skyworks' Board of Directors has declared a cash dividend of $0.13 per share of the Company's common stock, an 18 percent increase over the dividend for the prior quarter. The dividend is payable on Dec. 11, to stockholders of record at the close of business on Nov. 18. First Fiscal Quarter 2015 Outlook "Fiscal 2014 was a record year for Skyworks as we exceeded key metrics in each and every quarter and crossed the $2 billion revenue threshold," said Donald Palette, vice president and chief financial officer of Skyworks. "Based on broad customer demand and crisp operational execution, we are now scaling to more than a $3 billion revenue run-rate with annualized non-GAAP earnings per share approaching $5.00. Specifically, for the first fiscal quarter of 2015, we anticipate revenue to be up 52 percent year-over-year to $770 million with further margin expansion yielding $1.18 of non- GAAP diluted earnings per share." ((Comments on this story may be sent to [email protected])) (c) 2014 ProQuest Information and Learning Company; All Rights Reserved. |