Skyworks Solutions, Inc. is empowering the wireless networking revolution. We provide earnings guidance on a non-GAAP basis because certain information necessary to reconcile such guidance to GAAP is difficult to estimate and dependent on future events outside of our control. Fourth-quarter net income was $261.9m ($1.52 per diluted share, above the $1.50 guidance), down from $349.7m ($1.94 per diluted share) a year ago. UK, View our privacy, cookie and data protection policy, privacy, cookie and data protection policy. We are unable to provide a reconciliation of our forward-looking estimate of Q1 2020 GAAP diluted earnings per share to a forward-looking estimate of Q1 2020 non-GAAP diluted earnings per share because certain information needed to make a reasonable forward-looking estimate of GAAP diluted earnings per share for Q1 2020 (other than estimated share-based compensation expense of $0.10 to $0.14 per diluted share, estimated amortization of intangibles of $0.05 to $0.07 per diluted share and certain tax items of $0.00 to $0.05 per diluted share) is difficult to predict and estimate and is often dependent on future events that may be uncertain or outside of our control. Please refer to the attached Discussion Regarding the Use of Non-GAAP Financial Measures in this press release for a further discussion of our use of non-GAAP measures, including quantification of known expected adjustment items. In its third-quarter 2019 earnings, Skyworks reported $1.35 earnings per share and $144 million net profit. google_ad_width = 160; These charges represent expense recognized in accordance with ASC 718 - Compensation, Stock Compensation. Deferred Executive Compensation - including charges related to any contingent obligation pursuant to an executive severance agreement, because that expense has no direct correlation with our recurring business operations and including such expenses or reversals does not accurately reflect the compensation expense for the period in which incurred. Inside Skyworks Solutions, Inc.'s 10-K Annual Report: Financial - Expense Highlight Amortization of Intangibles The decrease in total amortization expense for fiscal 2020, as compared to fiscal 2019, was primarily related to fully amortized intangible assets that were acquired in prior years. During the company’s last earnings call, Skyworks’ management said revenue was expected to range between $1.00 billion and $1.02 billion. On a non-GAAP basis, gross margin has fallen further, from 51.2% a year ago and 50.4% last quarter to 50.3%, reducing full-year gross margin from 51.1% to 50.6%. Skyworks revenue for the third fiscal quarter of 2019 was $767 million. Skyworks revenue for the third fiscal quarter of 2019 was $767 million. and publisher are acknowledged. For full-year fiscal 2019 (ended 27 September), Skyworks Solutions Inc of Woburn, MA, USA (which manufactures analog and mixed-signal semiconductors) has reported revenue of $3.377bn, down 12.7% on fiscal 2018’s $3.868bn. //-->. Full-year net income has fallen from $1323.4m ($7.22 per diluted share) to $1.1bn ($6.17 per diluted share). Annual Revenue ( $ ) Skyworks Solutions revenue was $3.38 b in FY, 2019 which is a (12.7%) year over year decrease from the previous period. So, in total, Skyworks has returned $932m to shareholders through buybacks and dividends in full-year fiscal 2019 (just over 96% of free cash flow). Skyworks’ Board of Directors has declared a cash dividend of $0.44 per share of the Company’s common stock, payable on December 24, 2019, to stockholders of record at the close of business on December 3, 2019. “Our systems-level approach, highlighted by our Sky5 platform, now includes strategic capabilities in BAW [bulk acoustic wave filters], Wi-Fi 6, MIMO and custom diversity receive. Skyworks’ quarterly revenue shrinks 5.4% due to Huawei ban. Following Apple and Samsung, both reducing revenue projections for the December quarter, Skyworks has reduced its own revenue guidance for the same period (fiscal Q1) to $970 million. Skyworks Solutions annual revenue for 2019 was $3.377B , a 12.7% decline from 2018. During the three months and fiscal year ended September 28, 2018, the Company incurred $2.3 million in amortization of acquisition-related intangibles included in cost of goods sold and $6.4 million and $18.4 million, respectively, in amortization of acquisition-related intangibles included in selling, general and administrative expense. Adjustments to reconcile net income to net cash provided by operating activities: Amortization of intangible assets, including inventory step-up, Changes in fair value of contingent consideration, Sales and maturities of marketable securities, Repurchase of common stock — payroll tax withholdings on equity awards, Repurchase of common stock — stock repurchase program, Net proceeds from exercise of stock options, Proceeds from employee stock purchase plan, Net increase (decrease) in cash and cash equivalents, Cash and cash equivalents at beginning of period, Cash and cash equivalents at end of period, View source version on businesswire.com: https://www.businesswire.com/news/home/20191112006072/en/, Media Relations: We believe these non-GAAP financial measures give investors an additional method to evaluate historical operating performance and identify trends, an additional means of evaluating period-over-period operating performance and a method to facilitate certain comparisons of our operating results to those of our peer companies. google_ad_format = "160x600_as"; The probable significance of these unknown items, in the aggregate, is estimated to be in the range of $0.00 to $0.08 in quarterly earnings per diluted share on a GAAP basis. In Skyworks' most recent fiscal year -- that's fiscal year 2018, which ended on Sept. 28, 2018 -- the company generated $3.86 billion in revenue and, from that, squeezed out $918.4 million in net income, which translates into $5.01 in earnings per share. google_color_url = "A21A6E"; This is evident from Skyworks’ full-year 2020 results, where revenue came in at $3.35 billion, down from $3.38 billion in FY 2019. google_color_border = "16579B"; Skyworks subsequently ceased all shipments to Huawei (which had contributed 12% of total revenue in fiscal first-half 2019). (949) 231-3223, Skyworks Reports Q4 and Full Year FY19 Results, https://www.businesswire.com/news/home/20191112006072/en/. “Skyworks delivered solid financial results in the fourth fiscal quarter, closing a year that saw extraordinary market volatility and change,” says president & CEO Liam K. Griffin. powering Samsung’s suite of 4G mobile devices and their first foldable 5G smartphone; enabling LG’s V50ThinQ flagship 5G handset (featuring an OLED display and dual screens); accelerating the ramp of the firm’s Sky5 portfolio supporting multiple 5G launches; supporting leading infrastructure customers with 5G small-cell architectures; securing Wi-Fi 6 design wins with Netgear in its Orbi and Nighthawk platforms; delivering LTE-powered Internet of Things (IoT) engines across Sierra Wireless’ industrial gateways and transportation platforms; commencing volume production of high-performance mesh network connectivity modules for Amazon, Juniper and Ruckus; ramping fully integrated LTE solutions with major automotive manufacturers; shipping Zigbee ultra-low-power devices for a tier-one home security provider; expanding reach at Sonos, enabling its indoor/outdoor portable smart speakers; and. 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