Skyworks Solutions Q1 Adj. Profit Tops View; Issues Q2 Outlook - Quick Facts

(RTTNews) - Skyworks Solutions Inc. (SWKS) Thursday reported first-quarter net income of $94.5 million, or $0.49 per share, compared to $66.5 million, or $0.34 per share in the same period last year.

Non-GAAP net income for the latest first quarter was $127.7 million, or $0.67 per share, up from $106.6 million, or $0.55 per share in the prior year quarter. On average, 16 analysts polled by Thomson Reuters expected the company to earn $0.66 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased 11% to $505.2 million from $453.7 million last year, while 15 analysts expected revenues of $502.44 million.

Looking ahead, the company has forecast second-quarter non-GAAP earnings of $0.59 per share, with revenues of $470 million. Analysts currently expect the company to earn $0.57 per share on revenues of $460.47 million for second quarter.