5G--Skyworks Solutions, Inc. (Nasdaq: SWKS),

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Skyworks Reports Q2 FY19 Results
Delivers Revenue of $810 Million
Posts GAAP Diluted EPS of $1.23; Non-GAAP Diluted EPS of $1.47
Guides to Sequential Revenue and Earnings Growth in Q3 FY19
IRVINE, Calif.--(BUSINESS WIRE)--May 2, 2019-- Skyworks Solutions, Inc. (Nasdaq: SWKS), an innovator of high performance analog semiconductors connecting people, places and things, today reported second fiscal quarter results for the period ended March 29, 2019. Revenue for the second fiscal quarter was $810.4 million.

On a GAAP basis, operating income for the second fiscal quarter of 2019 was $237.6 million with diluted earnings per share of $1.23. On a non-GAAP basis, operating income was $276.1 million with non-GAAP diluted earnings per share of $1.47.

“Leveraging the strength of our business model and momentum across our high-growth broad markets and Internet of Things portfolio, Skyworks delivered another quarter of solid performance,” said Liam K. Griffin, president and chief executive officer of Skyworks. “At a higher level, our advanced connectivity solutions are enabling the critical wireless protocols that form the backbone of today’s mobile economy. From data center to cloud, media and entertainment, to e-commerce and ride-hailing services, our innovative technology is underpinning the newest generation of connected applications. As we transition to 5G, these connections become increasingly more important. Through our unique systems expertise, strategic partnerships and global scale, Skyworks is well positioned to address the technical challenges and complexity of 5G, capitalizing on a new era of unprecedented opportunity.”

Second Fiscal Quarter Business Highlights

Unveiled Sky5™ Ultra and Sky5™ LiTE for cellular applications
Powered Google’s Pixel with a suite of front-end solutions
Deployed SkyOne® and DRx technology for Samsung’s flagship Galaxy S10 smartphones
Secured 5G massive MIMO infrastructure wins with Ericsson and Nokia
Commenced volume production of ultra-compact mini circulators for 5G base stations
Captured sockets in the first commercially ready 5G indoor access point
Extended reach into aerospace and defense markets with introduction of C-band filters
Leveraged portfolio of analog SoCs across new high-fidelity gaming headsets and Samsung’s premium soundbars
Expanded automotive footprint with LTE devices supporting eCall, remote entry and in-cabin entertainment features
Launched Wi-Fi 6 engines at Aruba, Asus, Cisco and NetGear
Enabled long-range M2M communications in smart meters and city street lighting
Achieved Verizon certification for mobile IoT system-in-package deployments
Ramped connectivity modules and analog control ICs for Arlo’s industry-leading security systems
Third Fiscal Quarter 2019 Outlook

We provide earnings guidance on a non-GAAP basis because certain information necessary to reconcile such guidance to GAAP is difficult to estimate and dependent on future events outside of our control.Please refer to the attached Discussion Regarding the Use of Non-GAAP Financial Measures in this press release for a further discussion of our use of non-GAAP measures, including quantification of known expected adjustment items.

“For the June quarter, we expect sequential revenue and earnings growth driven by strategic wins and content gains in mobile, as well as traction across diverse customers, markets and applications,” said Kris Sennesael, senior vice president and chief financial officer of Skyworks. “Specifically, in the third fiscal quarter of 2019, we anticipate revenue to be between $815 and $835 million with non-GAAP diluted earnings per share of $1.50 at the midpoint of our revenue range. Looking ahead, we are well positioned to outperform with seasonal product ramps and 5G gaining further traction.”

Dividend Payment

Skyworks’ Board of Directors has declared a cash dividend of $0.38 per share of the Company's common stock, payable on June 11, 2019 to stockholders of record at the close of business on May 21, 2019.

Skyworks' Second Fiscal Quarter 2019 Conference Call

Skyworks will host a conference call with analysts to discuss its second fiscal quarter 2019 results and business outlook today at 5:00 p.m. Eastern time. To listen to the conference call via the Internet, please visit the investor relations section of Skyworks' website. To listen to the conference call via telephone, please call (800) 230-1092 (domestic) or (612) 288-0329 (international), confirmation code: 466093.

Playback of the conference call will begin at 9:00 p.m. Eastern time on May 2, and end at 9:00 p.m. Eastern time on May 9. The replay will be available on Skyworks' website or by calling (800) 475-6701 (domestic) or (320) 365-3844 (international), access code: 466093.

About Skyworks

Skyworks Solutions, Inc. is empowering the wireless networking revolution. Our highly innovative analog semiconductors are connecting people, places and things spanning a number of new and previously unimagined applications within the aerospace, automotive, broadband, cellular infrastructure, connected home, industrial, medical, military, smartphone, tablet and wearable markets.

Skyworks is a global company with engineering, marketing, operations, sales and support facilities located throughout Asia, Europe and North America and is a member of the S&P 500® and Nasdaq-100® market indices (Nasdaq: SWKS). For more information, please visit Skyworks’ website at: www.skyworksinc.com.

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