Skyworks Solutions has reported its second fiscal quarter results for the period ending March 28, 2014. Here are the key financial highlights:
- Delivers $481 Million in Revenue, Up 13% Y-o-Y
- Posts $0.62 of Non-GAAP Diluted EPS ($0.40 GAAP); $0.03 Better Than Guidance and Up 29% Y-o-Y
- Generates $214 Million in Quarterly Cash Flow from Operations
- Board of Directors Declares First Cash Dividend of $0.11 per Share
- Guides to $535 Million in Revenue in Q3 FY14, Up 11% Sequentially and 23% Y-o-Y
- Expects $0.73 in Non-GAAP Diluted EPS in Q3 FY14, Up 18% Sequentially and 35% Y-o-Y
Key Business Highlights for Skyworks in Q2 2014:
- Enabled NetGear's newest 802.11ac MU-MIMO routers and residential gateways
- Supported Audi's Homelink programmable car system
- Captured high-reliability sockets with several aerospace and defense suppliers including Cobham, EADS, Herley and Teledyne
- Secured power management design wins with Samsung
- Ramped connected home solutions supporting security sensors, motion detectors, lighting controls and meters at Centralite and Landis+Gyr
- Leveraged infrastructure portfolio for macro base station and remote and multi-standard radio applications across Alcatel-Lucent, Ericsson, Nokia Solutions and Networks and ZTE
- Delivered analog control ICs to Medtronics for implantable heart monitors
- Developed the industry's leading dual flash driver utilizing proprietary TrueFlash™ capability enabling sophisticated LED flash management features
- Powered Microsoft, Nintendo and Sony gaming platforms with analog and connectivity solutions
- Expanded footprint in multiple 4G TD-LTE architectures at leading smartphone OEMs including Coolpad, HTC, Lenovo and ZTE
- Launched next-generation SkyOne™ platforms with carrier aggregation, additional frequency bands and MIPI® baseband interfaces
- Enabled the Moto G smartphone with five front-end devices
- Repurchased approximately two million shares of common stock
Skyworks' Board of Directors has declared its first cash dividend of $0.11 per share of the Company's common stock. The dividend is payable on May 22, 2014 to stockholders of record at the close of business on May 13, 2014. Looking forward, they plan to deliver a strong, sustainable top line growth with continued operating leverage. Skyworks anticipates revenue to be up 23 percent year-over-year to $535 million with non-GAAP diluted earnings per share up 35 percent year-over-year to $0.73 in the 3rd Fiscal Quarter.
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