Skyworks Solutions Q2 Profit Climbs

(RTTNews) - Skyworks Solutions Inc. (SWKS) reported that its net income for the second-quarter climbed to $325.0 million or $1.95 per share from $181.1 million or $1.06 per share in the prior year.

Non-GAAP earnings per share was $2.37 compared to $1.34 in the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $2.35 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the second fiscal quarter of 2021 was $1.172 billion, up 53% year over year. Analysts expected revenue of $1.15 billion for the quarter.

Looking ahead for the third fiscal quarter of 2021, the company anticipates revenue to be between $1.075 billion and $1.125 billion with non-GAAP earnings per share of $2.13 at the midpoint of revenue range, representing revenue growth of 49% and non-GAAP earnings per share growth of 70%, compared to the third fiscal quarter of 2020. Analysts expect the company to report earnings of $2.10 per share and revenues of $1.07 billion for the third-quarter.

Skyworks declared a cash dividend of $0.50 per share of the company's common stock, payable on June 8, 2021, to stockholders of record at the close of business on May 18, 2021.