Skyworks Solutions stock down after fiscal Q4 earnings
Shares of Skyworks Solutions Inc. (SWKS) fell 4% in the extended session Thursday after the semiconductor company reported fiscal fourth-quarter per-share earnings that beat expectations but predicted a weaker fiscal first quarter. Skyworks earned $286 million, or $1.58 a share, in the quarter, compared with $281 million, or $1.51 a share, in the year-ago quarter. Adjusted for one-time items, the company earned $350 million, or $1.94 a share, compared with $339 million, or $1.82 a share, a year ago. Revenue was "a record" $1 billion, the company said, compared with $985 million a year ago. Analysts polled by FactSet had expected adjusted EPS of $1.92 a share on sales of $1 billion. The company said it expects fiscal first-quarter revenue between $1 billion and $1.02 billion, and non-GAAP diluted earnings per share of $1.91. The analysts surveyed by FactSet expect adjusted EP4S of $2.08 a share on sales of $1.07 billion for the quarter. "Despite the near term industry weakness, we intend to deliver our tenth consecutive fiscal year of revenue and non-GAAP earnings growth," the company said in a statement. Shares of Skyworks ended the regular session up 0.9%.
-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
November 08, 2018 17:01 ET (22:01 GMT)
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