Free Post Earnings Research Report: Skyworks Solutions Quarterly Net Revenue Advanced 15% and Earnings Increased 24.22%

Stock Monitor: Applied Optoelectronics Post Earnings Reporting

LONDON, UK / ACCESSWIRE / February 27, 2018 / Active-Investors.com has just released a free earnings report on Skyworks Solutions, Inc. (NASDAQ: SWKS) (“Skyworks”). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=SWKS. Skyworks reported financial results for the first quarter ending December 29, 2017 on February 05, 2018. The Company reported record results in Q1 FY18, demonstrating its traction within the increasingly vibrant and profitable mobile and Internet of thing (IoT) ecosystems. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is currently working on the research report for Applied Optoelectronics, Inc. (NASDAQ: AAOI), which also belongs to the Technology sector as the Company Skyworks Solutions. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=AAOI

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Skyworks Solutions most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=SWKS

Earnings Highlights and Summary

In the first quarter of 2018 (Q1 FY18), Skyworks generated total revenues of $1.05 billion, up 15.05% from $914.3 million in Q1 FY17. Growth in revenue was driven by strong demand for the Company’s wireless chips and technology that powers IoT. Revenue numbers for Q1 FY18 were in-line with analysts’ estimates.

Skyworks’ cost of goods sold (COGS) hiked 14.37% to $515.1 million in the reported quarter from $450.4 million in the year ago corresponding quarter. The Company’s gross profit advanced 15.71% to $536.8 million y-o-y in Q1 FY18.

Skyworks’ operating expenses were $153.3 million in the quarter under review compared to $142.0 million in the previous year’s same quarter, reflecting an increase of 7.96%. This increase in operating expenses was mainly due to the rise in research and development costs. The Company reported an operating income of $383.5 million in Q1 FY18, up 19.14% from $321.9 million in Q1 FY17. The Company’s operating margin was 36.46% for Q1 FY18, up from 35.21% in Q1 FY17.

Skyworks’ net income dipped 72.69% to $70.4 million in Q1 FY18 from $257.8 million in Q1 FY17. The diluted earnings per share also declined to $0.38 in Q1 FY18 from $1.38 in Q1 FY17, reflecting a change of 72.46%. The reported earnings included a one-time charge of $258 million related to tax on the mandatory deemed repatriation of foreign earnings and a non-cash charge of $18 million related to the revaluation of deferred tax assets and liabilities.

Skyworks’ adjusted earnings per share (EPS) for Q1 FY18, excluding non-recurring and non-core items, was $2.00, an increase of 24.22% from $1.61 in Q1 FY17. The Company’s adjusted EPS was higher than analysts’ consensus estimates of $1.91 per share.

Cash Matters

As on December 29, 2017, Skyworks had cash and cash equivalents of $1.68 billion, up 4% from $1.62 billion as on September 29, 2017. The Company continued to maintain a no-debt balance sheet in the quarter under review.

For the three months ending December 29, 2017, Skyworks’ cash flow from operations was $360.8 million, a decrease of 27.24% from $495.9 million for the three months ending December 30, 2016. The Company incurred a capital expenditure of $28.2 million in the quarter under review compared to a capital expenditure of $50.1 million in the year ago same quarter.

During Q1 FY18, Skyworks paid dividends of $59.1 million. Besides, the Company spent a total of $172.5 million on repurchase of common stock under its stock repurchase program.

Outlook

For the second quarter of 2018 (Q2 FY18), Skyworks expects revenue to increase 6-8% y-o-y, driven by a vibrant, dynamic mobile ecosystem. At the midpoint of approximately $910 million in revenue, the Company expects non-GAAP diluted earnings per share to be up 10% to $1.60 y-o-y.

Skyworks’ Board of Directors authorized a new $1 billion stock repurchase program, led by increased confidence in the business model and outlook. As a result, the Company’s targeted cash return rate to shareholders will increase from the historic range of 40%-50% to 60-75% of free cash flow going forward. The Board of Directors also declared a cash dividend of $0.32 per share of the Company’s common stock, payable on March 15, 2018, to stockholders of record at the close of business on February 22, 2018.

Stock Performance Snapshot

February 26, 2018 – At Monday’s closing bell, Skyworks Solutions’ stock rose 2.00%, ending the trading session at $110.39.

Volume traded for the day: 1.85 million shares.

Stock performance in the last month – up 16.14%; previous three-month period – up 1.70%; past twelve-month period – up 16.57%; and year-to-date – up 16.26%

After yesterday’s close, Skyworks Solutions’ market cap was at $20.21 billion.

Price to Earnings (P/E) ratio was at 18.70.

The stock has a dividend yield of 1.16%.

The stock is part of the Technology sector, categorized under the Semiconductor – Integrated Circuits industry. This sector was up 1.2% at the end of the session.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third-party research service company (the “Reviewer”) represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com
Phone number: 73 29 92 6381

Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors

ReleaseID: 490839