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Woburn-based Skyworks Solutions Inc., which makes signal processing chips used in wireless devices, is reporting a record first fiscal quarter of 2010, beating its own revenue estimates and doubling its operating income.
For Q1 of 2010, Skyworks (Nasdaq: SWKS) brought in $245 million, versus $210 million in the first quarter of 2009. The company had anticipated revenue to be in the range of $238 million to $242 million. The Q1 operating income, on a GAAP basis, was $42.5 million, up from $21 million in Q1 2009.
Donald W. Palette, vice president and chief financial officer of Skyworks, said that he anticipates having a similar increase in the second fiscal quarter of 2010 over previous years.
Among the customers for its chips, Skyworks counts such manufacturers as Motorola Inc., LG Electronics, Research In Motion Ltd., and HTC. According to the company, Skyworks was part of the Nexus One phone just launched by Google Inc. and manufactured by HTC. Skyworks has long been rumored to be supplying chips for Apple Inc.’s iPhone, but neither company has confirmed the deal.
In June of 2009, Skyworks reported plans to buy California-based mobile phone power amplifier developer Axiom Devices Inc. for an undisclosed amount. The deal gives Skyworks access to Axiom’s line of CMOS (complementary metal-oxide semiconductor) power amplifiers, of which Axiom is the world’s only volume supplier, according to a Skyworks.
Publicly traded since 1984, Skyworks makes a variety of analog and mixed signal components for mobile handsets and other applications in the communications, automotive, energy management, medical and military industries. With 3,300 employees worldwide, Skyworks reported $93.3 million in profit on $802 million in revenue in its fiscal 2009, which ended Oct. 2, 2009.
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