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.
Friday, January 21, 2011
Skyworks Solutions (NASDAQ:SWKS) Outperforms on Smartphones, Tablets
Labels:
Anadigics,
Apple,
Nokia,
RF Micro,
Samsung,
Skyworks Solutions,
Triquint Semi
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