Delivers Q4 Revenue of $957 Million, up 30% Sequentially and 16% Y-o-Y
Posts Q4 GAAP Diluted EPS of $1.46; Non-GAAP Diluted EPS of $1.85
Generates FY20 Revenue of $3.356 Billion with GAAP Diluted EPS of $4.80; Non-GAAP Diluted EPS of $6.13
Returned $955 Million to Shareholders in FY20 via Dividends and Repurchase of 6.3 Million Shares
Guides to Double-Digit Sequential Revenue and Earnings Growth in Q1 FY21
November 02, 2020 04:01 PM Eastern Standard Time
IRVINE, Calif.--(BUSINESS WIRE)--Skyworks Solutions, Inc. (Nasdaq: SWKS), an innovator of high-performance analog semiconductors connecting people, places and things, today reported fourth fiscal quarter and fiscal year-end results for the period ended Oct. 2, 2020.
Revenue for the fourth fiscal quarter of 2020 was $956.8 million, up 30% sequentially and exceeding consensus estimates. On a GAAP basis, operating income for the fourth fiscal quarter of 2020 was $267.6 million with diluted earnings per share of $1.46. On a non-GAAP basis, operating income was $334.9 million with non-GAAP diluted earnings per share of $1.85.
For fiscal year 2020, revenue was $3.356 billion, with GAAP diluted earnings per share of $4.80. Non-GAAP diluted earnings per share for fiscal year 2020 were $6.13.
“Skyworks significantly exceeded September quarter expectations in revenue and earnings per share, capping off a fiscal year that both tested and demonstrated the resilience of our business model,” said Liam K. Griffin, president and chief executive officer of Skyworks. “With 5G technology launches now well under way, we are ramping our innovative Sky5® solutions in a rapidly expanding set of end markets, from mobile to IoT, automotive and wireless infrastructure. Increased demand for reliable, ultra-fast wireless connections in our homes, businesses, schools and medical facilities is driving strong momentum throughout our product portfolio, positioning Skyworks for continued growth.”
Fourth Fiscal Quarter Business Highlights
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.
“We expect double-digit sequential revenue and earnings growth in the December quarter, fueled by content gains and product ramps across multiple 5G-enabled smartphone platforms and increased demand across our broad markets portfolio,” said Kris Sennesael, senior vice president and chief financial officer of Skyworks. “Specifically, in the first fiscal quarter of 2021, we anticipate revenue to be between $1,040 million and $1,070 million with non-GAAP diluted earnings per share of $2.06 at the midpoint of our revenue range.”
Dividend Payment
Skyworks’ Board of Directors has declared a cash dividend of $0.50 per share of the Company’s common stock, payable on Dec. 10, 2020, to stockholders of record at the close of business on Nov. 19, 2020.
Skyworks’ Fourth Quarter 2020 Conference Call
Skyworks will host a conference call with analysts to discuss its fourth quarter fiscal 2020 results and business outlook today at 4:30 p.m. EST. To listen to the conference call via the Internet, please visit the investor relations section of Skyworks’ website. To listen to the conference call via telephone, please call (833) 714-0912 (domestic) or (778) 560-2690 (international), Conference ID: 4588640.
Playback of the conference call will begin at 9 p.m. EST on Nov. 2, 2020, and end at 9 p.m. EST on Nov. 9, 2020. The replay will be available on Skyworks’ website or by calling (800) 585-8367 (domestic) or (416) 621-4642 (international), Conference ID: 4588640.
About Skyworks
Skyworks Solutions, Inc. is empowering the wireless networking revolution. Our highly innovative analog semiconductors are connecting people, places and things spanning a number of new and previously unimagined applications within the aerospace, automotive, broadband, cellular infrastructure, connected home, industrial, medical, military, smartphone, tablet and wearable markets.
Skyworks is a global company with engineering, marketing, operations, sales and support facilities located throughout Asia, Europe and North America and is a member of the S&P 500® and Nasdaq-100® market indices (Nasdaq: SWKS). For more information, please visit Skyworks’ website at: www.skyworksinc.com.
Posts Q4 GAAP Diluted EPS of $1.46; Non-GAAP Diluted EPS of $1.85
Generates FY20 Revenue of $3.356 Billion with GAAP Diluted EPS of $4.80; Non-GAAP Diluted EPS of $6.13
Returned $955 Million to Shareholders in FY20 via Dividends and Repurchase of 6.3 Million Shares
Guides to Double-Digit Sequential Revenue and Earnings Growth in Q1 FY21
November 02, 2020 04:01 PM Eastern Standard Time
IRVINE, Calif.--(BUSINESS WIRE)--Skyworks Solutions, Inc. (Nasdaq: SWKS), an innovator of high-performance analog semiconductors connecting people, places and things, today reported fourth fiscal quarter and fiscal year-end results for the period ended Oct. 2, 2020.
Revenue for the fourth fiscal quarter of 2020 was $956.8 million, up 30% sequentially and exceeding consensus estimates. On a GAAP basis, operating income for the fourth fiscal quarter of 2020 was $267.6 million with diluted earnings per share of $1.46. On a non-GAAP basis, operating income was $334.9 million with non-GAAP diluted earnings per share of $1.85.
For fiscal year 2020, revenue was $3.356 billion, with GAAP diluted earnings per share of $4.80. Non-GAAP diluted earnings per share for fiscal year 2020 were $6.13.
“Skyworks significantly exceeded September quarter expectations in revenue and earnings per share, capping off a fiscal year that both tested and demonstrated the resilience of our business model,” said Liam K. Griffin, president and chief executive officer of Skyworks. “With 5G technology launches now well under way, we are ramping our innovative Sky5® solutions in a rapidly expanding set of end markets, from mobile to IoT, automotive and wireless infrastructure. Increased demand for reliable, ultra-fast wireless connections in our homes, businesses, schools and medical facilities is driving strong momentum throughout our product portfolio, positioning Skyworks for continued growth.”
Fourth Fiscal Quarter Business Highlights
- Accelerated ramp of Sky5® portfolio, supporting 5G launches at Samsung, Oppo, Vivo, Xiaomi and other Tier-1 players
- Enabled touchless Point of Sale systems at Square
- Delivered 802.11ax Wi-Fi solutions for access points for Amazon eero™
- Ramped Wi-Fi 6 solutions for advanced routers at NETGEAR and ASUS
- Supported Facebook’s new Oculus AR/VR devices
- Introduced new embedded modules powering Fibocom’s enterprise IoT applications
- Powered critical medical applications at Boston Scientific and General Electric
- Shipped low-latency wireless audio solutions, enabling leading gaming headsets at Logitech, Razer and Sony
- Launched high-speed, connected-car solutions for Daimler and leading Korean and Japanese automotive OEMs
- Captured design wins for residential gateways at Verizon and Telecom Italia
- Secured design wins in 5G wireless infrastructure deployments, powering MIMO base stations and small cell installations
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.
“We expect double-digit sequential revenue and earnings growth in the December quarter, fueled by content gains and product ramps across multiple 5G-enabled smartphone platforms and increased demand across our broad markets portfolio,” said Kris Sennesael, senior vice president and chief financial officer of Skyworks. “Specifically, in the first fiscal quarter of 2021, we anticipate revenue to be between $1,040 million and $1,070 million with non-GAAP diluted earnings per share of $2.06 at the midpoint of our revenue range.”
Dividend Payment
Skyworks’ Board of Directors has declared a cash dividend of $0.50 per share of the Company’s common stock, payable on Dec. 10, 2020, to stockholders of record at the close of business on Nov. 19, 2020.
Skyworks’ Fourth Quarter 2020 Conference Call
Skyworks will host a conference call with analysts to discuss its fourth quarter fiscal 2020 results and business outlook today at 4:30 p.m. EST. To listen to the conference call via the Internet, please visit the investor relations section of Skyworks’ website. To listen to the conference call via telephone, please call (833) 714-0912 (domestic) or (778) 560-2690 (international), Conference ID: 4588640.
Playback of the conference call will begin at 9 p.m. EST on Nov. 2, 2020, and end at 9 p.m. EST on Nov. 9, 2020. The replay will be available on Skyworks’ website or by calling (800) 585-8367 (domestic) or (416) 621-4642 (international), Conference ID: 4588640.
About Skyworks
Skyworks Solutions, Inc. is empowering the wireless networking revolution. Our highly innovative analog semiconductors are connecting people, places and things spanning a number of new and previously unimagined applications within the aerospace, automotive, broadband, cellular infrastructure, connected home, industrial, medical, military, smartphone, tablet and wearable markets.
Skyworks is a global company with engineering, marketing, operations, sales and support facilities located throughout Asia, Europe and North America and is a member of the S&P 500® and Nasdaq-100® market indices (Nasdaq: SWKS). For more information, please visit Skyworks’ website at: www.skyworksinc.com.