• Skyworks: Fiscal 4Q Earnings Snapshot

    WOBURN, Mass. (AP) _ Skyworks Solutions Inc. (SWKS) on Thursday reported fiscal fourth-quarter profit of $285.5 million.

    The Woburn, Massachusetts-based company said it had net income of $1.58 per share. Earnings, adjusted for pretax expenses and stock option expense, were $1.94 per share.

    The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.91 per share.

    The chipmaker posted revenue of $1.01 billion in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $1 billion.

    For the year, the company reported profit of $918.4 million, or $5.01 per share. Revenue was reported as $3.87 billion.

    For the current quarter ending in January, Skyworks expects its per-share earnings to be $1.91. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.06.

    The company said it expects revenue in the range of $1 billion to $1.02 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $1.07 billion.

    Skyworks shares have decreased 12 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $83.40, a decline of 26 percent in the last 12 months.


    This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SWKS at https://www.zacks.com/ap/SWKS

    Next Up: