Tuesday, August 19, 2008

Skyworks to supply chips to Lockheed Martin for 5 years

By Mass High Tech Staff

Skyworks Solutions Inc. reports it has signed a five-year, multi-million dollar contract with Lockheed Martin to supply semiconductors for naval radar and missile systems.

Under the deal, the Woburn-based semiconductor company will supply the aerospace and defense giant with supply high-precision technical ceramic toroids and inserts for the Aegis Weapon System. The toroids are used to electronically steer the radar beam on aircraft carriers and fighter planes as well as on land-based systems. Financial terms of the deal were not disclosed.

In April, Skyworks (Nasdaq: SWKS) and electronics component maker Kopin Corp. extended their purchase and supply agreement through 2010.

In November 2007, Skyworks and Samsung struck a deal to use of Skyworks’ transceivers, amplifiers and other products in the Korean electronic maker’s femtocell applications.

In February 2007, Skyworks announced plans to sell about $200 million worth of convertible subordinated notes to institutional buyers. The company planned to use the net proceeds from the offering for working capital and general corporate purposes, including capital expenditures, funding potential future acquisitions, the repurchase of up to $50 million of its common stock and repaying some or all of the outstanding principal amount and accrued interest on its outstanding debt.

Skyworks reported a 2007 net income of $57.7 million on revenue of $741.7 million.