Skyworks Solutions has reported first fiscal quarter results for the period ending January 2, 2015. Revenue for the first fiscal quarter was $805.5 million, up 59 percent year-over-year and 12 percent sequentially, exceeding the Company's original guidance of $770 million. On a non-GAAP basis, operating income for the first fiscal quarter of 2015 was $282.0 million, up 99 percent from $141.8 million in the first fiscal quarter of 2014. Non-GAAP diluted earnings per share for the first fiscal quarter was $1.26, $0.08 better than guidance and up 88 percent from the $0.67 reported for the first fiscal quarter of 2014. On a GAAP basis, operating income for the first fiscal quarter of 2015 was $246.8 million and diluted earnings per share was $1.01.
Skyworks business results are being fueled by a global surge in connectivity across a wide-ranging set of applications and by the increase in analog-rich content that is required to power today's most innovative devices. They are at the forefront of this technology advancement - facilitating secure, high-speed, seamless connections through their integrated solutions and driving superior financial returns for shareholders.
Q1 Business Highlights
- Captured new design wins in Cisco's latest home gateway for cable operators
- Secured multiple analog devices in a leading telematics platform for GM vehicles
- Commenced volume production of SkyLiTE™ integrated systems supporting Mediatek's latest reference designs at several OEM customers
- Ramped ICs in Fire TV and Echo streaming media devices at major online retailer
- Delivered diversity receive modules for LTE smartphones at Samsung and others
- Introduced Zigbee® solutions for smart lighting products at LG and Philips
- Expanded wearable designs with multiple devices in Timex's Ironman smartwatch
- Delivered switching and connectivity modules for Xiaomi's Mi4 platform
- Supported Thales avionics platforms with hi-rel switching products
- Captured over ten dollars of analog content in set top box application for DirecTV
- Powered Linksys' 9-stream access points with 802.11ac front end solutions
According to BMO Capital Markets the good times for companies like Skyworks and Qorvo will continue through 2015.
