Skyworks Solutions (NASDAQ: SWKS) reported Q4 EPS of $1.85, $0.33 better than the analyst estimate of $1.52. Revenue for the quarter came in at $957 million versus the consensus estimate of $842.37 million.

• Delivers Q4 Revenue of $957 Million, up 30% Sequentially and 16% Y-o-Y
• Posts Q4 GAAP Diluted EPS of $1.46; Non-GAAP Diluted EPS of $1.85
• Generates FY20 Revenue of $3.356 Billion with GAAP Diluted EPS of $4.80; Non-GAAP Diluted EPS of $6.13
• Returned $955 Million to Shareholders in FY20 via Dividends and Repurchase of 6.3 Million Shares
• Guides to Double-Digit Sequential Revenue and Earnings Growth in Q1 FY21

“Skyworks significantly exceeded September quarter expectations in revenue and earnings per share, capping off a fiscal year that both tested and demonstrated the resilience of our business model,” said Liam K. Griffin, president and chief executive officer of Skyworks. “With 5G technology launches now well under way, we are ramping our innovative Sky5® solutions in a rapidly expanding set of end markets, from mobile to IoT, automotive and wireless infrastructure. Increased demand for reliable, ultra-fast wireless connections in our homes, businesses, schools and medical facilities is driving strong momentum throughout our product portfolio, positioning Skyworks for continued growth.”

Fourth Fiscal Quarter Business Highlights

• Accelerated ramp of Sky5® portfolio, supporting 5G launches at Samsung, Oppo, Vivo, Xiaomi and other Tier-1 players
• Enabled touchless Point of Sale systems at Square
• Delivered 802.11ax Wi-Fi solutions for access points for Amazon eero™
• Ramped Wi-Fi 6 solutions for advanced routers at NETGEAR and ASUS
• Supported Facebook’s new Oculus AR/VR devices
• Introduced new embedded modules powering Fibocom’s enterprise IoT applications
• Powered critical medical applications at Boston Scientific and General Electric
• Shipped low-latency wireless audio solutions, enabling leading gaming headsets at Logitech, Razer and Sony
• Launched high-speed, connected-car solutions for Daimler and leading Korean and Japanese automotive OEMs
• Captured design wins for residential gateways at Verizon and Telecom Italia
• Secured design wins in 5G wireless infrastructure deployments, powering MIMO base stations and small cell installations

GUIDANCE:

Skyworks Solutions sees Q1 2021 EPS of $2.06, versus the consensus of $1.80. Skyworks Solutions sees Q1 2021 revenue of $1040-1070 million, versus the consensus of $935.44 million.

Skyworks Solutions sees FY2021 EPS of $6.13, versus the consensus of $5.81. Skyworks Solutions sees FY2021 revenue of $3.356 billion, versus the consensus of $3.25 billion.

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.

“We expect double-digit sequential revenue and earnings growth in the December quarter, fueled by content gains and product ramps across multiple 5G-enabled smartphone platforms and increased demand across our broad markets portfolio,” said Kris Sennesael, senior vice president and chief financial officer of Skyworks. “Specifically, in the first fiscal quarter of 2021, we anticipate revenue to be between $1,040 million and $1,070 million with non-GAAP diluted earnings per share of $2.06 at the midpoint of our revenue range.”

For earnings history and earnings-related data on Skyworks Solutions (SWKS) click here.