News

21 July 2006

 

Skyworks’ June-quarter sales of $197.1m yield pro forma operating income up 50%

Skyworks Solutions Inc of Woburn, MA, USA, which supplies RFICs, cellular subsystems and analog semiconductors, has reported revenue of $197.1m for its fiscal third-quarter 2006 (to end-June). This is up 6% sequentially on $185.2m the prior quarter and up 3% on $191.5m a year ago.
Excluding the baseband product area and legacy assembly and test services operation, revenue was up 14% year-on-year.

GAAP operating income (in accordance with generally accepted accounting principles in the USA) was $5.9m (including a $3.7m charge related to the expensing of equity-based compensation), resulting in net income of $3.0m.

On a pro forma basis (exclude certain charges including equity-based compensation, amortization of intangible assets and non-recurring items), operating income was $10.1m (up 51% sequentially), yielding net income of
$8.0m.

This reflects the ramp of several next-generation products supporting tier-one handset OEMs, including Samsung, Sony Ericsson, Motorola and LG, says David J. Aldrich, president and chief executive officer. "In particular, our Intera front-end modules and Helios radios are increasingly powering some of the world's most popular EDGE, WEDGE and WCDMA handsets," he adds. "This differentiated offering, coupled with the introduction of a new wave of higher-margin linear products, is positioning us for substantial growth over the long term."

"Our RF solutions continue to gain momentum among leading handset OEMs, highlighted by ramps at Samsung and Sony Ericsson," says Allan M. Kline, vice president and chief financial officer. "At the same time, our linear
products portfolio is at record backlog with design wins transitioning into production," he adds. "However, while handset demand remains robust, we experienced isolated forecast changes that reduced our demand signal for the
fourth fiscal quarter. Accordingly, we are forecasting September quarterly revenue in the range of $197-200m."

Visit: http://www.skyworksinc.com