Skyworks Solutions, Inc. (NASDAQ: SWKS), an innovator of high performance analog semiconductors connecting people, places and things, today updated its guidance for the first fiscal quarter ended December 28, 2018. The company now expects:

• Revenue of approximately $970 million, compared to the prior guidance of revenue between $1.000 billion and $1.020 billion; and
• Non-GAAP diluted earnings per share in the range of $1.81 to $1.84, compared to the prior guidance of $1.91 at the midpoint of the prior guidance revenue range.

(Street sees Q1 EPS of $1.91 on revenue of $1.01 billion)

“First fiscal quarter results were impacted by unit weakness across our largest smartphone customers,” said Liam K. Griffin, president and chief executive officer of Skyworks. “Despite these near-term challenges, our broad markets business tracked in-line with our prior outlook. In addition, cash flow generation continued to be strong, allowing us to return cash to shareholders through share repurchases and dividends.”

This update is preliminary in nature, based on information available to management as of the date of this release, and is subject to further changes upon completion of our standard quarter-end closing procedures. Skyworks’ independent registered public accounting firm has not completed its review of our results for the first fiscal quarter ended December 28, 2018. We undertake no obligation to update the information in this release in the event facts or circumstances change after the date of this release.

Skyworks’ First Fiscal Quarter 2019 Conference Call

Skyworks will conduct a conference call with analysts to discuss its first quarter fiscal 2019 results and business outlook on February 5, 2019, at 5:00 p.m. Eastern time.

After the close of the market on February 5, and prior to the conference call, Skyworks will issue a copy of the earnings press release via Business Wire. The press release may also be viewed on Skyworks’ website at www.skyworksinc.com.

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) 230-1059 (domestic) or (612) 234-9959 (international), confirmation code: 462168.

Playback of the conference call will begin at 9:00 p.m. Eastern time on February 5, and end at 9:00 p.m. Eastern time on February 12. The replay will be available on Skyworks’ website or by calling (800) 475-6701 (domestic) or (320) 365-3844 (international), access code: 462168.