Skyworks Reports Q4 and Full Year FY19 Results

The forward-looking statements contained in this news release 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.

Note to Editors: Skyworks and the Skyworks symbol are trademarks or registered trademarks of Skyworks Solutions, Inc. or its subsidiaries in the United States and other countries. Third-party brands and names are for identification purposes only and are the property of their respective owners.

SKYWORKS SOLUTIONS, INC.

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Twelve Months Ended

(in millions, except per share amounts)

 

September 27,
2019

 

September 28,
2018

 

September 27,
2019

 

September 28,
2018

Net revenue

 

$

827.4

 

 

$

1,008.4

 

 

$

3,376.8

 

 

$

3,868.0

 

Cost of goods sold

 

421.4

 

 

504.8

 

 

1,773.0

 

 

1,917.3

 

Gross profit

 

406.0

 

 

503.6

 

 

1,603.8

 

 

1,950.7

 

Operating expenses:

 

 

 

 

 

 

 

 

 

Research and development

 

106.8

 

 

103.0

 

 

424.1

 

 

404.5

 

 

Selling, general and administrative

 

55.8

 

 

54.4

 

 

198.3

 

 

207.8

 

 

Amortization of intangibles

 

4.0

 

 

6.3

 

 

22.6

 

 

18.3

 

 

Restructuring and other charges (benefit)

 

5.5

 

 

(0.2

)

 

6.8

 

 

0.8

 

 

 

Total operating expenses

 

172.1

 

 

163.5

 

 

651.8

 

 

631.4

 

Operating income

 

233.9

 

 

340.1

 

 

952.0

 

 

1,319.3

 

 

Other income, net

 

0.1

 

 

3.3

 

 

9.0

 

 

12.8

 

Income before income taxes

 

234.0

 

 

343.4

 

 

961.0

 

 

1,332.1

 

Provision for income taxes

 

23.4

 

 

57.9

 

 

107.4

 

 

413.7

 

Net income

 

$

210.6

 

 

$

285.5

 

 

$

853.6

 

 

$

918.4

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.23

 

 

$

1.60

 

 

$

4.92

 

 

$

5.06

 

 

 

Diluted

 

$

1.22

 

 

$

1.58

 

 

$

4.89

 

 

$

5.01

 

 

Weighted average shares:

 

 

 

 

 

 

 

 

 

 

Basic

 

171.2

 

 

178.6

 

 

173.5

 

 

181.3

 

 

 

Diluted

172.2

180.2

174.5

183.2

 

SKYWORKS SOLUTIONS, INC.

UNAUDITED RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Twelve Months Ended

(in millions)

 

September 27,
2019

 

September 28,
2018

 

September 27,
2019

 

September 28,
2018

GAAP gross profit

 

$

406.0

 

 

$

503.6

 

 

$

1,603.8

 

 

$

1,950.7

 

 

 

Share-based compensation expense [a]

 

4.8

 

 

2.8

 

 

13.0

 

 

14.4

 

 

 

Acquisition-related expenses [b]

 

 

 

4.5

 

 

1.9

 

 

4.5

 

 

 

Amortization of acquisition-related intangibles [c]

 

5.9

 

 

2.3

 

 

21.1

 

 

2.3

 

 

 

Settlements, gains, losses and impairments [d]

 

(0.5

)

 

3.0

 

 

68.7

 

 

2.0

 

 

 

Restructuring and other charges (benefit) [e]

 

 

 

(0.2

)

 

0.4

 

 

0.8

 

Non-GAAP gross profit

 

$

416.2

 

 

$

516.0

 

 

$

1,708.9

 

 

$

1,974.7

 

GAAP gross margin %

 

49.1

%

 

49.9

%

 

47.5

%

 

50.4

%

Non-GAAP gross margin %

 

50.3

%

 

51.2

%

 

50.6

%

 

51.1

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Twelve Months Ended

(in millions)

 

September 27,
2019

 

September 28,
2018

 

September 27,
2019

 

September 28,
2018

GAAP operating income

 

$

233.9

 

 

$

340.1

 

 

$

952.0

 

 

$

1,319.3

 

 

 

Share-based compensation expense [a]

 

21.5

 

 

21.5

 

 

80.1

 

 

107.8

 

 

 

Acquisition-related expenses (benefit) [b]

 

 

 

4.3

 

 

2.1

 

 

(2.6

)

 

 

Amortization of acquisition-related intangibles [c]

 

9.9

 

 

8.7

 

 

43.7

 

 

20.7

 

 

 

Settlements, gains, losses and impairments [d]

 

10.3

 

 

5.2

 

 

80.7

 

 

5.2

 

 

 

Restructuring and other charges (benefit) [e]

 

5.5

 

 

(0.2

)

 

7.3

 

 

0.8

 

 

 

Deferred executive compensation (benefit) [f]

 

 

 

 

 

(0.1

)

 

(1.7

)

Non-GAAP operating income

 

$

281.1

 

 

$

379.6

 

 

$

1,165.8

 

 

$

1,449.5

 

GAAP operating margin %

 

28.3

%

 

33.7

%

 

28.2

%

 

34.1

%

Non-GAAP operating margin %

 

34.0

%

 

37.6

%

 

34.5

%

 

37.5

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Twelve Months Ended

(in millions)

 

September 27,
2019

 

September 28,
2018

 

September 27,
2019

 

September 28,
2018

GAAP net income

 

$

210.6

 

 

$

285.5

 

 

$

853.6

 

 

$

918.4

 

 

 

Share-based compensation expense [a]

 

21.5

 

 

21.5

 

 

80.1

 

 

107.8

 

 

 

Acquisition-related expenses (benefit) [b]

 

 

 

4.3

 

 

2.1

 

 

(2.6

)

 

 

Amortization of acquisition-related intangibles [c]

 

9.9

 

 

8.7

 

 

43.7

 

 

20.7

 

 

 

Settlements, gains, losses and impairments [d]

 

12.8

 

 

5.2

 

 

83.2

 

 

5.2

 

 

 

Restructuring and other charges (benefit) [e]

 

5.5

 

 

(0.2

)

 

7.3

 

 

0.8

 

 

 

Deferred executive compensation (benefit) [f]

 

 

 

 

 

(0.1

)

 

(1.7

)

 

 

Tax adjustments [g]

 

1.6

 

 

24.7

 

 

6.8

 

 

274.8

 

Non-GAAP net income

 

$

261.9

 

 

$

349.7

 

 

$

1,076.7

 

 

$

1,323.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Twelve Months Ended

 

 

 

 

September 27,
2019

 

September 28,
2018

 

September 27,
2019

 

September 28,
2018

GAAP net income per share, diluted

 

$

1.22

 

 

$

1.58

 

 

$

4.89

 

 

$

5.01

 

 

 

Share-based compensation expense [a]

 

0.12

 

 

0.12

 

 

0.46

 

 

0.59

 

 

 

Acquisition-related expenses (benefit) [b]

 

 

 

0.02

 

 

0.01

 

 

(0.01

)

 

 

Amortization of acquisition-related intangibles [c]

 

0.06

 

 

0.05

 

 

0.25

 

 

0.11

 

 

 

Settlements, gains, losses and impairments [d]

 

0.08

 

 

0.03

 

 

0.48

 

 

0.03

 

 

 

Restructuring and other charges (benefit) [e]

 

0.03

 

 

 

 

0.04

 

 

 

 

 

Deferred executive compensation (benefit) [f]

 

 

 

 

 

 

 

(0.01

)

 

 

Tax adjustments [g]

 

0.01

 

 

0.14

 

 

0.04

 

 

1.50

 

Non-GAAP net income per share, diluted

 

$

1.52

 

 

$

1.94

 

 

$

6.17

 

 

$

7.22

 

SKYWORKS SOLUTIONS, INC.

« Previous Page 1 | 2 | 3 | 4  Next Page »



Review Article Be the first to review this article

 Advanced Asembly

Featured Video
Latest Blog Posts
Bob Smith, Executive DirectorBridging the Frontier
by Bob Smith, Executive Director
You’re Invited! CEO Outlook May 18
Anupam BakshiAgnisys Automation Review
by Anupam Bakshi
Automating the UVM Register Abstraction Layer (RAL)
Jobs
Technical Product Manager- SISW-EDA 238452 for Siemens AG at Fremont, California
ASIC SoC Verification Engineer for Ericsson at Austin, Texas
Pre-silicon Design Verification Engineer for Intel at Santa Clara, California
Test and Measurement System Architect for Xilinx at San Jose, California
SoC Physical Design Engineer for Qualcomm at Austin, Texas
SerDes Applications Design Engineer for Xilinx at San Jose, California
Upcoming Events
Virtual ASMC 2021 at United States - May 10 - 12, 2021
DVCon China 2021 at Shanghai China - May 26, 2021
CadenceLIVE Americas 2021 at United States - Jun 8 - 9, 2021
DesignCon 2021 at San Jose McEnery Convention Center San Jose, CA San Jose CA - Aug 16 - 18, 2021



© 2021 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise