Skyworks Solutions (NASDAQ:SWKS) Outperforms on Smartphones, Tablets

Consumer demand for smartphones and tablets seems to be remaining almost insatiable, and that helped Skyworks Solutions (NASDAQ:SWKS) beat expectations for their latest quarter, and increase guidance for the next.

Skyworks had net income of $60.9 million, or 32 cents a share, for the quarter, up from $28 million, or 16 cents a share, a year ago in the same quarter.

Excluding items, Skyworks earned 41 cents a share, beating analyst's expectations of 40 cents a share.

Revenue in the quarter increased to $335.1 million, a 37 percent boost, beating analysts expectations of $334 million.

The major competitors of Skyworks are RF Micro Devices (NASDAQ:RFMD), Anadigics (NASDAQ:ANAD) and Triquint Semiconductor NASDAQ:TQNT).

Major customers include Apple (NASDAQ:AAPL) Nokia (NYSE:NOK), and Samsung Electronics.

Guidance for the second quarter from Skyworks is for earnings to come in at $38-40 cents a share on revenue of $310 to $320 million.

Skyworks closed Thursday at $30.03, dropping $1.88, or 5.89 percent.