13 WTHR - Indianapolis News |Skyworks Solutions 4Q profit rises

Skyworks Solutions 4Q profit rises

WOBURN, Mass. (AP) - Skyworks Solutions Inc., which makes semiconductors for wireless products, said Thursday its profit increased as lower operating costs offset a slight decline in sales.

The company said it earned $56 million, or 32 cents per share, in the final quarter of its fiscal year, which ended Oct. 2. A year ago, it earned $54.8 million, or 33 cents per share. Excluding special items, the company said adjusted earnings totaled $41.8 million, or 24 cents per share, compared with $35.3 million, or 21 cents per share, a year ago.

Revenue fell 2 percent from a year ago, but increased 19 percent from the previous three months to $228.1 million.

Operating expenses fell faster than sales, dropping to $59.6 million from $65.8 million a year ago.

Analysts expected the company to earn 22 cents per share excluding items on sales of $222.3 million, according to Thomson Reuters.

The sales figure beat lower targets that the company itself had provided as recently as three weeks before the quarter ended.

The company's chips are used to improve battery performance, signal quality and other purposes. CEO David J. Aldrich said Skyworks will benefit from "powerful, multi-year waves" of growth in broadband access, infrastructure capacity, and smart grids.

Skyworks shares rose 64 cents, or 6.2 percent, to $10.97 in regular trading, then climbed another 47 cents, or 4.3 percent, to $11.44 in extended trading after the financial report.

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