Skyworks posts higher 1st-quarter results, gives 2nd-quarter outlook above expectations

Skyworks Solutions posts higher 1Q results

WOBURN, Mass. — Chip maker Skyworks Solutions Inc. said Wednesday its fiscal first-quarter profit and sales rose, boosted in part by the “exploding” demand for mobile Internet applications.

For the three months ended Jan. 1, the company earned $28 million, or 16 cents per share, up 19 percent from $23.6 million, or 14 cents per share, in the same period a year earlier. Excluding tax adjustments, share-based compensation expense and other special items, the company earned 27 cents per share in the latest quarter.

Revenue rose 17 percent to $245.1 million from $210.2 million.

Analysts, on average, expected profit of 25 cents per share on sales of $240.9 million, according to a poll by Thomson Reuters. Analysts typically exclude one-time items from their estimates.

For the fiscal second quarter, Skyworks expects adjusted earnings of 21 cents per share on sales of about $225 million.

Analysts expect profit of 19 cents per share on sales of $214.6 million.

Skyworks makes chips used in wireless products such as cell phones. Its shares fell 55 cents, or 3.7 percent, to $14.16 in after-hours trading. The stock earlier closed down 15 cents at $14.71.