The forward-looking statements contained in this news release are made only as of the date hereof, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
Note to Editors: Skyworks and the Skyworks symbol are trademarks or registered trademarks of Skyworks Solutions, Inc., or its subsidiaries in the United States and other countries. Third-party brands and names are for identification purposes only and are the property of their respective owners.
SKYWORKS SOLUTIONS, INC. |
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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS |
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|
|||||||
|
Three Months Ended |
||||||
(in millions, except per share amounts) |
December 31,
|
|
January 1,
|
||||
Net revenue |
$ |
1,510.4 |
|
|
$ |
1,510.0 |
|
Cost of goods sold |
|
795.7 |
|
|
|
748.3 |
|
Gross profit |
|
714.7 |
|
|
|
761.7 |
|
Operating expenses: |
|
|
|
||||
Research and development |
|
151.1 |
|
|
|
121.6 |
|
Selling, general, and administrative |
|
82.0 |
|
|
|
66.6 |
|
Amortization of intangibles |
|
33.3 |
|
|
|
2.8 |
|
Restructuring, impairment, and other charges |
|
2.4 |
|
|
|
— |
|
Total operating expenses |
|
268.8 |
|
|
|
191.0 |
|
Operating income |
|
445.9 |
|
|
|
570.7 |
|
Interest expense |
|
(11.0 |
) |
|
|
— |
|
| Other income, net |
|
1.2 |
|
|
|
0.2 |
|
| Income before income taxes |
|
436.1 |
|
|
|
570.9 |
|
| Provision for income taxes |
|
36.2 |
|
|
|
61.6 |
|
| Net income |
$ |
399.9 |
|
|
$ |
509.3 |
|
| Earnings per share: |
|
|
|
||||
| Basic |
$ |
2.42 |
|
|
$ |
3.08 |
|
| Diluted |
$ |
2.40 |
|
|
$ |
3.05 |
|
| Weighted average shares: |
|
|
|
||||
| Basic |
|
165.1 |
|
|
|
165.4 |
|
| Diluted |
|
166.4 |
|
|
|
167.0 |
|
| SKYWORKS SOLUTIONS, INC. |
||||||||
| UNAUDITED RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES |
||||||||
|
|
||||||||
|
|
Three Months Ended |
|||||||
| (in millions) |
December 31,
|
January 1,
|
||||||
| GAAP gross profit |
$ |
714.7 |
|
$ |
761.7 |
|
||
| Share-based compensation expense [a] |
|
8.7 |
|
|
6.4 |
|
||
| Acquisition-related expenses |
|
7.3 |
|
|
— |
|
||
| Amortization of acquisition-related intangibles |
|
42.5 |
|
|
2.9 |
|
||
| Non-GAAP gross profit |
$ |
773.2 |
|
$ |
771.0 |
|
||
| GAAP gross margin % |
|
47.3 |
% |
|
50.4 |
% |
||
| Non-GAAP gross margin % |
|
51.2 |
% |
|
51.1 |
% |
||
|
|
|
|
||||||
|
|
Three Months Ended |
|||||||
| (in millions) |
December 31,
|
January 1,
|
||||||
| GAAP operating income |
$ |
445.9 |
|
$ |
570.7 |
|
||
| Share-based compensation expense [a] |
|
50.4 |
|
|
44.5 |
|
||
| Acquisition-related expenses |
|
9.2 |
|
|
— |
|
||
| Amortization of acquisition-related intangibles |
|
75.7 |
|
|
5.7 |
|
||
| Settlements, gains, losses, and impairments |
|
2.2 |
|
|
1.1 |
|
||
| Restructuring and other charges |
|
2.4 |
|
|
— |
|
||
| Non-GAAP operating income |
$ |
585.8 |
|
$ |
622.0 |
|
||
| GAAP operating margin % |
|
29.5 |
% |
|
37.8 |
% |
||
| Non-GAAP operating margin % |
|
38.8 |
% |
|
41.2 |
% |
||
|
|
|
|
||||||
|
|
Three Months Ended |
|||||||
| (in millions) |
December 31,
|
January 1,
|
||||||
| GAAP net income |
$ |
399.9 |
|
$ |
509.3 |
|
||
| Share-based compensation expense [a] |
|
50.4 |
|
|
44.5 |
|
||
| Acquisition-related expenses |
|
9.2 |
|
|
— |
|
||
| Amortization of acquisition-related intangibles |
|
75.7 |
|
|
5.7 |
|
||
| Settlements, gains, losses, and impairments |
|
2.7 |
|
|
1.7 |
|
||
| Restructuring and other charges |
|
2.4 |
|
|
— |
|
||
| Tax adjustments |
|
(17.6 |
) |
|
(0.7 |
) |
||
| Non-GAAP net income |
$ |
522.7 |
|
$ |
560.5 |
|
||
|
|
|
|
||||||
|
|
Three Months Ended |
|||||||
|
|
December 31,
|
January 1,
|
||||||
| GAAP net income per share, diluted |
$ |
2.40 |
|
$ |
3.05 |
|
||
| Share-based compensation expense [a] |
|
0.30 |
|
|
0.27 |
|
||
| Acquisition-related expenses |
|
0.06 |
|
|
— |
|
||
| Amortization of acquisition-related intangibles |
|
0.46 |
|
|
0.03 |
|
||
| Settlements, gains, losses, and impairments |
|
0.02 |
|
|
0.01 |
|
||
| Restructuring and other charges |
|
0.01 |
|
|
— |
|
||
| Tax adjustments |
|
(0.11 |
) |
|
— |
|
||
| Non-GAAP net income per share, diluted |
$ |
3.14 |
|
$ |
3.36 |
|
||
SKYWORKS SOLUTIONS, INC.
