Skyworks Solutions sees record results in first quarter of 2018
American semi-conductor company Skyworks Solutions reported earnings for the first quarter of 2018 on 5 February that set a new record for the company. Speaking on an earnings call, the company’s president and CEO, Liam Griffin, revealed that Skyworks brought in $1.05 billion in revenue over the quarter – that’s a 15% increase from the previous year, and marks the first time the company has exceeded a billion.
The company also set a new record for earnings per share, which were up by 24% against the year-ago quarter and beat analysts’ expectations by $0.09. And in its last big win for the quarter, Griffin said that Skyworks also exceeded its own free cash flow margin goal of 30%.
Skyworks has seen its share price appreciate by 9% already this year
SOURCE: Yahoo Finance
Skyworks’ earnings are the result of the growing ubiquity of its chips. They can be found in everything from the latest Amazon Kindle devices to “Netgear’s Orb wifi system for outdoor mesh networks.” As the Internet of Things becomes more of a reality in the near future, Skyworks is in a very favourable position to capitalize.
Griffin reiterated this message, and told analysts on the call that “we delivered record financial results, captured strategic design wins across all key markets, and substantially strengthened our balance sheet. At a higher level, the ubiquitous connected economy is gaining significant momentum and enhancing the way we live, work, and educate. The Skyworks vision of connecting everyone and everything all the time is more relevant than ever.”
Dominion holds Skyworks Solutions in its Global Trends Ecommerce Fund.
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