Skyworks Solutions has reported their fourth fiscal quarter and year-end results for the period ending September 30, 2016. Revenue for the fourth fiscal quarter was $835.4 million, up 11 percent sequentially, exceeding the Company’s guidance and consensus estimates.
Liam K. Griffin, president and chief executive officer of Skyworks said they are capitalizing on the strength of both Mobile and Internet of Things ecosystems. He feels they are in the midst of a dramatic sea change in the usage case for wireless technologies and the way it is transforming how we live, work and play. As a virtual hub for e-commerce, enterprise to the cloud, social media, gaming and entertainment, mobile devices are rapidly evolving to address the massive demand for data and speed across an increasingly crowded spectrum. Skyworks is resolving this daunting complexity with customized system-level solutions to ultimately improve the user experience with higher levels of efficiency, enhanced streaming capabilities and expanded network coverage. As a result, they are well positioned to continue delivering above-market growth, profitability and shareholder value.
Some Business Highlights of the Fourth Fiscal Quarter
- Leveraged SkyOne® across Huawei’s Honor 8 global platform
- Powered Google’s flagship Pixel 4G LTE smartphones
- Secured multiple 4G LTE design wins with leading Chinese OEMs including Asus, Gionee, HTC, Meizu, Oppo, Xiaomi and ZTE
- Commenced volume production of diversity receive and antenna tuner solutions
- Supported Amazon’s Echo and Tap virtual assistant devices
- Enabled Netgear’s Orbi router with connectivity and analog control ICs
- Launched linear power amplifiers in support of small cell ramps in China
- Delivered integrated 4G LTE modules for Jaguar and Land Rover automobiles
- Ramped vehicle-to-vehicle communication modules for Alps
- Captured ZigBee® content in Trilliant’s smart grid communication systems
- Designed into a premier medical imaging OEM for MRI applications
- Integrated GPS, connectivity and switching solutions for GoPro drones
On a GAAP basis, operating income for the fourth fiscal quarter of 2016 was $291.9 million with diluted earnings per share of $1.31. On a non-GAAP basis, operating income was $318.4 million with non-GAAP diluted earnings per share of $1.47, $0.04 better than the Company’s guidance and consensus estimates. Cash flow from operations for the quarter was $455.0 million.
For fiscal year 2016, revenue was a record $3.3 billion with GAAP diluted earnings per share of $5.18 and cash flow from operations of $1.1 billion. Non-GAAP diluted earnings per share for fiscal year 2016 was $5.57.
- Delivers Revenue of $835.4 Million, Up 11% Sequentially
- GAAP Operating Margin 34.9%; Non-GAAP Operating Margin 38.1%
- GAAP Diluted EPS $1.31; Non-GAAP Diluted EPS $1.47
- Generates Record Cash Flow from Operations of $455.0 Million
- Repurchases 3 Million Shares
- Guides to 7% to 9% Sequential Revenue Growth
