Skyworks Solutions, Inc., an innovator of high-performance analog and mixed-signal semiconductors connecting people, places and things, has reported second fiscal quarter results for the period ended March 31, 2023.
Revenue for the second fiscal quarter of 2023 was $1.153 billion. On a GAAP basis, operating income for the second fiscal quarter was $273.3 million with diluted earnings per share of $1.46. On a non-GAAP basis, operating income was $386.1 million with non-GAAP diluted earnings per share of $2.02.
“Despite a challenging macro backdrop, the fundamentals of our business remained strong in the second quarter with solid profitability and robust cash generation,” said Liam K. Griffin, chairman, chief executive officer and president of Skyworks. “At a higher level, we are driving operational efficiency while leveraging our leading-edge technologies and world-class manufacturing capabilities to capture new opportunities across an expanding set of customers.”
Second Fiscal Quarter Business Highlights
- Delivered Sky5 platforms supporting Samsung’s premium and mass tier smartphone launches
- Enabled enhanced Power-over-Ethernet functionality with Cisco for enterprise networks
- Launched tri-band, Wi-Fi 6E and Wi-Fi 7 gateways for CommScope and ASUS
- Secured 5G platforms with a market leader in mobile computing
- Shipped programmable timing solutions to the top U.S. satellite provider
- Enabled small cell infrastructure deployments with a Japanese telecommunications company
- Leveraged our expanding industrial product suite with a top smart meter company
- Captured EV on-board charging content with a top European automotive supplier
- Ramped key automotive digital radio products with a leading Korean automotive OEM
Third Fiscal Quarter 2023 Outlook
We provide earnings guidance on a non-GAAP basis because certain information necessary to reconcile such guidance to GAAP is difficult to estimate and dependent on future events outside of our control. Please refer to the attached Discussion Regarding the Use of Non-GAAP Financial Measures in this press release for a further discussion of our use of non-GAAP measures, including quantification of known expected adjustment items.
“Looking ahead to our third fiscal quarter of 2023, we anticipate revenue to be between $1.050 billion and $1.090 billion with non-GAAP diluted earnings per share of $1.67 at the midpoint of our revenue range,” said Kris Sennesael, senior vice president and chief financial officer of Skyworks.
Dividend Payment
Skyworks’ board of directors has declared a cash dividend of $0.62 per share of the Company’s common stock, payable on June 20, 2023, to stockholders of record at the close of business on May 30, 2023.
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