Skyworks Solutions, Inc. (NASDAQ: SWKS), an innovator of high
reliability analog and mixed signal semiconductors enabling a broad
range of end markets, today increased its financial outlook for the
fourth quarter of fiscal 2009 given broad-based improvements in
order demand. For the period, Skyworks now expects revenue in the
range of $220 to $225 million and non-GAAP diluted earnings per
share of $0.21 to $0.22.
“Multiple new program ramps coupled with strong operational
execution are contributing to better than planned top and bottom
line growth,” said David J. Aldrich, president and chief executive
officer of Skyworks. “Our diversification into a broader set of
analog semiconductor sectors, share consolidation in our core
markets and our scale advantages are increasingly enabling us to
outperform our addressable markets.”
About Skyworks
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.
Headquartered in Woburn, Mass., Skyworks is worldwide with
engineering, manufacturing, sales and service facilities throughout
Asia, Europe and North America. For more information, please visit
Skyworks’ Web site at: www.skyworksinc.com.
Safe Harbor Statement
This news release includes "forward-looking statements" intended
to qualify for the safe harbor from liability established by the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements include information relating to future
results and expectations of Skyworks (including certain projections
and business trends). Forward-looking statements can often be
identified by words such as "anticipates," "expects," "forecasts,"
"intends," "believes," "plans," "may," "will," "continue," similar
expressions, and variations or negatives of these words. All such
statements are subject to certain risks and uncertainties that
could cause actual results to differ materially and adversely from
those projected, and may affect our future operating results,
financial position and cash flows.
These risks and uncertainties include, but are not limited to:
unprecedented uncertainty regarding global economic and financial
market conditions; the susceptibility of the wireless semiconductor
industry and the markets addressed by our, and our customers',
products to economic downturns; the timing, rescheduling or
cancellation of significant customer orders and our ability, as
well as the ability of our customers, to manage inventory; losses
or curtailments of purchases or payments from key customers, or the
timing of customer inventory adjustments; changes in laws,
regulations and/or policies in the United States that could
adversely affect financial markets and our ability to raise
capital; our ability to develop, manufacture and market innovative
products in a highly price competitive and rapidly changing
technological environment; economic, social and political
conditions in the countries in which we, our customers or our
suppliers operate, including security and health risks, possible
disruptions in transportation networks and fluctuations in foreign
currency exchange rates; fluctuations in our manufacturing yields
due to our complex and specialized manufacturing processes; delays
or disruptions in production due to equipment maintenance, repairs
and/or upgrades; our reliance on several key customers for a large
percentage of our sales; fluctuations in the manufacturing yields
of our third party semiconductor foundries and other problems or
delays in the fabrication, assembly, testing or delivery of our
products; the availability and pricing of third party semiconductor
foundry, assembly and test capacity and raw materials; our ability
to timely and accurately predict market requirements and evolving
industry standards, and to identify opportunities in new markets;
uncertainties of litigation, including potential disputes over
intellectual property infringement and rights, as well as payments
related to the licensing and/or sale of such rights; our ability to
rapidly develop new products and avoid product obsolescence; our
ability to retain, recruit and hire key executives, technical
personnel and other employees in the positions and numbers, with
the experience and capabilities, and at the compensation levels
needed to implement our business and product plans; lengthy product
development cycles that impact the timing of new product
introductions; unfavorable changes in product mix; the quality of
our products and any remediation costs; shorter than expected
product life cycles; problems or delays that we may face in
shifting our products to smaller geometry process technologies and
in achieving higher levels of design integration; and our ability
to continue to grow and maintain an intellectual property portfolio
and obtain needed licenses from third parties, as well as other
risks and uncertainties, including but not limited to those
detailed from time to time in our filings with the Securities and
Exchange Commission.
These forward-looking statements are made only as of the date
hereof, and we undertake no obligation to update or revise the
forward-looking statements, whether as a result of new information,
future events or otherwise.
Use of Non-GAAP Financial Estimates
This press release contains financial estimates which have not
been calculated in accordance with United States Generally Accepted
Accounting Principles (GAAP). Management uses these non-GAAP
financial measures to make operating decisions, forecast results
for future periods, and compare operating performance against prior
periods. These non-GAAP financial measures provide management with
a means of understanding and evaluating operating trends in our
ongoing business by excluding certain non-cash and non-recurring
expenses and other items that management believes might otherwise
make comparisons of our ongoing business with prior periods more
difficult, obscure trends in ongoing operations or reduce
management’s ability to make useful forecasts.
We provide investors with these non-GAAP financial estimates
because we believe it is important for investors to be able to
closely monitor and understand changes in our ability to generate
income and profit from ongoing business operations. We believe
these non-GAAP financial measures also give investors an effective
method to identify operating trends and make forecasts for future
periods. We believe that disclosing these non-GAAP financial
measures contributes to enhanced financial reporting transparency
and provides investors with added clarity about the performance of
our ongoing business operations.
These non-GAAP financial estimates do not reflect share-based
compensation expense, restructuring-related charges,
acquisition-related expenses and certain deferred executive
compensation, as well as certain non-recurring and/or non-cash
items related to the retirement of convertible debt and income
taxes.
Note to Editors: Skyworks, Skyworks Solutions are trademarks or
registered trademarks of Skyworks Solutions, Inc. or its
subsidiaries in the United States and in other countries. All other
brands and names listed are trademarks of their respective
companies.
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