Skyworks Solutions Inc. Q1 adjusted earnings Miss Estimates

(RTTNews) - Skyworks Solutions Inc. (SWKS) revealed a profit for its first quarter that rose from the same period last year.

The company's earnings totaled $284.9 million, or $1.60 per share. This compares with $70.4 million, or $0.38 per share, in last year's first quarter.

Excluding items, Skyworks Solutions Inc. reported adjusted earnings of $324.6 million or $1.83 per share for the period.

Analysts had expected the company to earn $1.85 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 7.6% to $972.0 million from $1051.9 million last year.

Skyworks Solutions Inc. earnings at a glance:

-Earnings (Q1): $324.6 Mln. vs. $371.5 Mln. last year. -EPS (Q1): $1.83 vs. $2.00 last year. -Analysts Estimate: $1.85 -Revenue (Q1): $972.0 Mln vs. $1051.9 Mln last year.

-Guidance: Next quarter revenue guidance: $800 - $820 million