Skyworks Boasts Better Earnings

Skyworks Solutions Inc (NASDAQ:SWKS) reported upbeat earnings for its fourth quarter.

The Irvine, Calif.-based company reported revenue of 2019 was $827.4 million, up 8% sequentially. On a GAAP basis, operating income for the fourth fiscal quarter of 2019 was $233.9 million with diluted earnings per share of $1.22. On a non-GAAP basis, operating income was $281.1 million with non-GAAP diluted earnings per share of $1.52.

Said CEO Liam Griffin, “Looking ahead, we are well positioned to execute on our mission of delivering compelling 5G solutions across a growing and diverse suite of customers and markets. Our systems-level approach, highlighted by our Sky5® platform, now includes strategic capabilities in BAW, Wi-Fi 6, MIMO and custom diversity receive.

“Collectively, these solutions are unleashing the true potential of 5G – successfully providing a range of options to our customers while increasing the value and utility of each usage case. We are in the early innings of this substantial technology inflection, as we translate these dynamics into sustainable growth and profitability.”

As for the company outlook, in the first fiscal quarter of 2020, SWKS anticipates revenue to be between $870 and $890 million with non-GAAP diluted earnings per share of $1.65 at the midpoint of our revenue range

Skyworks’ Board of Directors has declared a cash dividend of $0.44 per share of the Company’s common stock, payable on Christmas Eve, to stockholders of record at the close of business on December 3.

Shares dropped $4.03, or 4% to $97.56