Skyworks Solutions has announced its fourth fiscal quarter and year-end results for the period ending September 29, 2017. According to the company, revenue for the fourth fiscal quarter was $984.6 million, up 18 percent year-over-year and exceeding consensus estimates.
Skyworks has seen considerable growth from increased global demand for connectivity across Mobile and Internet of Things ecosystems. The connected economy is gaining significant momentum and enhancing the way it lives, works, plays and educates. At the same time, the broad range of usage cases and expanding scope of newly connected platforms are crowding radio spectrum and stressing network capacity. These dynamics portend a digital traffic jam while creating a tremendous opportunity.
Given Skyworks’s strategic investments, technology breadth and differentiated system solutions, the company is well positioned to empower revolutionary 5G applications, enabling up to 100x increases in speed and near-zero latency with expanding network capacity.
Some Highlights from the Fourth Quarter Business Report Include:
- Powered Samsung’s flagship LTE platforms with proprietary DRx modules, GPS devices and DC/DC converters
- Expanded content across Huawei’s premium smartphones with low/mid/high band SkyOne and SkyBlue architectures
- Supported Oppo, Vivo and Xiaomi product launches in China
- Enabled Sonos’ newest HiFi platforms incorporating Amazon’s Alexa virtual assistant technology
- Ramped ultra-low-power Bluetooth solutions for advanced location trackers
- Delivered innovative ZigBee and ISM modules for Bosch’s home security systems and Cisco’s smart street lights
- Captured design wins in Nest’s next generation smart thermostats
- Introduced 802.11ax Wi-Fi engines for home and commercial environments
- Commenced volume production of in-vehicle telematics systems at Hyundai
- Secured connectivity wins at DJI for virtual reality and drone applications
- Launched precision GPS and antenna technology in FitBit’s smart watches
- Unveiled high power solutions with leading base station OEMs for 5G massive MIMO deployments
On a GAAP basis, operating income for the fourth fiscal quarter of 2017 was $345.9 million with diluted earnings per share of $1.51. On a non-GAAP basis, operating income was $379.2 million with non-GAAP diluted earnings per share of $1.82, up 24 percent year-over-year and $0.07 better than consensus estimates. For fiscal year 2017, revenue was a record $3.7 billion, up 11 percent year-over-year, with GAAP diluted earnings per share of $5.41 and cash flow from operations of $1.5 billion. Non-GAAP diluted earnings per share for fiscal year 2017 was also a record $6.45, up 16 percent year-over-year.
In the upcoming first fiscal quarter of 2018, Skyworks expects revenue to be up 15 percent year-over-year to $1.050 billion, with non-GAAP diluted earnings per share of $1.91, up 19 percent year-over-year. Skyworks’ Board of Directors has declared a cash dividend of $0.32 per share of the company's common stock, payable on December 12, 2017, to stockholders of record at the close of business on November 21, 2017.
