Skyworks Solutions Inc. Q2 Profit Decreases, misses estimates

(RTTNews) - Skyworks Solutions Inc. (SWKS) reported earnings for second quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings totaled $232.8 million, or $1.46 per share. This compares with $305.8 million, or $1.86 per share, in last year's second quarter.

Excluding items, Skyworks Solutions Inc. reported adjusted earnings of $323.1 million or $2.02 per share for the period.

Analysts on average had expected the company to earn $2.03 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 13.5% to $1.15 billion from $1.33 billion last year.

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

-Earnings (Q2): $232.8 Mln. vs. $305.8 Mln. last year. -EPS (Q2): $1.46 vs. $1.86 last year. -Analyst Estimates: $2.03 -Revenue (Q2): $1.15 Bln vs. $1.33 Bln last year.

-Guidance: Next quarter revenue guidance: $1.050 - $1.090 Bln