Gary Lerude, MWJ Technical Editor
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Gary Lerude

Gary Lerude is the Technical Editor of Microwave Journal. Previously, he spent his career as a “midwife” aiding the growth of the compound semiconductor industry, from device to application, from defense to commercial. He spent 19 years at Texas Instruments, 11 years at MACOM and six years with TriQuint. Gary holds a bachelor’s in EE, a master’s in systems engineering and an engineers degree (ABD) in EE.

Cellular 4G/LTE Channel / Industry News / RFIC Channel

Skyworks Reduces Q1 Revenue Guidance

January 8, 2019

Skyworks logo
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.

During the company’s last earnings call, Skyworks’ management said revenue was expected to range between $1.00 billion and $1.02 billion. The revised guidance represents a decline of 4 percent from the midpoint of the prior range.

The company also said non-GAAP diluted earnings per share (EPS) would range from $1.81 to $1.84, compared to the prior guidance of $1.91 at the midpoint of the prior revenue range.

Liam Griffin, Skyworks president and CEO, said “First fiscal quarter results were impacted by unit weakness across our largest smartphone customers.”

In the most recent annual report, Skyworks reported that Apple accounted for more than 10 percent of the company’s revenue in fiscal 2018, ending September 28. During the prior two fiscal years, Apple and Samsung both contributed more than 10 percent of Skywork’s revenue.

Griffin also said, “Despite these near-term challenges, our broad markets business tracked in-line with our prior outlook. In addition, cash flow generation continued to be strong, allowing us to return cash to shareholders through share repurchases and dividends.”

Skyworks’ broad markets segment contributed approximately 28 percent of the total revenue in fiscal Q4 and, according to CFO Kris Sennesael, was growing at a double-digit rate year-over-year, exiting fiscal 2018 at an annualized $1.1 billion run rate.

Skyworks will report full Q1 financial results on February 5.

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