Skyworks Solutions Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Skyworks Solutions Inc. (SWKS) announced earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $231.3 million, or $1.44 per share. This compares with $309.4 million, or $1.93 per share, in last year's first quarter.

Excluding items, Skyworks Solutions Inc. reported adjusted earnings of $317.0 million or $1.97 per share for the period.

Analysts on average had expected the company to earn $1.95 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 9.8% to $1.20 billion from $1.33 billion last year.

Skyworks Solutions Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $231.3 Mln. vs. $309.4 Mln. last year. -EPS (Q1): $1.44 vs. $1.93 last year. -Analyst Estimates: $1.95 -Revenue (Q1): $1.20 Bln vs. $1.33 Bln last year.

-Guidance: Next quarter EPS guidance: $1.52 Next quarter revenue guidance: $1.02 to $1.07 Bln