Skyworks exceed Q1 expectations
Skyworks Solutions are an American company that produce semiconductors and other technological products. They then sell these on to clients around the world, as they form part of high-tech communication systems, which seems to be a winning formula for the business, as they have just posted great figures for the fiscal quarter.
The firm, which is based out of Massachusetts, were able to post revenue of $914.3 million for the quarter ending 30 December 2016, which was up 9.4% sequentially, and ahead of analysts’ estimates of $902.7 million. Skyworks were also able to reveal a record cash flow from operations for the quarter, with $495.9 million.
Some operating highlights from the period that were flagged up included: delivering low noise amplifiers to leading networking equipment manufacturers and enabling Wi-Fi mesh solutions at both Linksys and Ubiquiti Networks.
Skyworks Solutions share price over the last three months
As of 23 January 2017: 88.67
SOURCE: Yahoo Finance
Liam Griffin, president and chief executive of Skyworks Solutions, said: “Skyworks delivered exceptional financial results in the first fiscal quarter of 2017 fueled by global demand for ubiquitous mobile connectivity and the Internet of Things.
“We are enabling the next phase of the wireless revolution, powering new and previously unimagined applications. With the proliferation of 4G/LTE and advent of 5G, system-level performance requirements are intensifying, driving the need for substantially higher data rates, improved efficiency and reduced latency across an exponentially growing scope of networked devices.
“Leveraging our innovative portfolio, carrier aggregation leadership, operational scale and demonstrated ability to deliver highly integrated solutions, Skyworks is uniquely positioned to capitalize on this connectivity megatrend."
Dominion holds Skyworks Solutions in its Global Trends Ecommerce Fund.
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