I am a bit surprised by the lack of reaction to what appears to be a very nice report from Skyworks Solutions (SWKS) last evening. Beat by a penny and raised guidance for next quarter by 1-3 cents over current expectations. Perhaps it has to do with the huge run (almost 100% from trough to peak) the stock has enjoyed the past 6 months, which has discounted some of the news.
Cellphone chipmaker Skyworks Solutions Inc (SWKS) posted better-than-expected quarterly results and forecast second-quarter above market estimates on firm demand for smartphones, tablets and a shift to 4G.
For January-March quarter Skyworks forecast second-quarter earnings of 38-40 cents a share, excluding items, on revenue of $310-$320 million. Analysts were looking for earnings of 37 cents a share, before items, on revenue of $306.5 million.
In the October-December quarter, Skyworks net income doubled to $60.9 million, or 32 cents a share, from $28 million, or 16 cents a share, a year ago. Excluding items, it earned 41 cents a share, above analysts' view of 40 cents a share.
Revenue at the company rose 37% to $335.1 million, above analysts expectation of $334 million.
Cramer had the CEO on last evening - 8 minute video
Skyworks Solutions, Inc. is an innovator of high reliability analog and mixed signal semiconductors. Leveraging core technologies, Skyworks offers diverse standard and custom linear products supporting automotive, broadband, cellular infrastructure, energy management, industrial, medical, military and mobile handset applications. The Company’s portfolio includes amplifiers, attenuators, detectors, diodes, directional couplers, front-end modules, hybrids, infrastructure RF subsystems, mixers/demodulators, phase shifters, PLLs/synthesizers/VCOs, power dividers/combiners, receivers, switches and technical ceramics.