• Record Q4 Revenue of $1.008B with GAAP Diluted EPS of $1.58 and Non-GAAP EPS of $1.94
• Record FY18 Revenue of $3.868B with GAAP Diluted EPS of $5.01 and Non-GAAP EPS of $7.22
• Returned $1.003B to Shareholders via Repurchase of 7.7M Shares and Increased Dividends in FY18
• Guides Revenue to Between $1.000B and $1.020B with Non-GAAP Diluted EPS of $1.91 in Q1 FY19

IRVINE, Calif. — (BUSINESS WIRE) — November 8, 2018 — Skyworks Solutions, Inc. (NASDAQ: SWKS) an innovator of high performance analog semiconductors connecting people, places and things, today reported fourth fiscal quarter and year-end results for the period ended September 28, 2018. Revenue for the fourth fiscal quarter was a record $1.008 billion, up 13 percent sequentially and exceeding consensus estimates.

On a GAAP basis, operating income for the fourth fiscal quarter of 2018 was $340.1 million with diluted earnings per share of $1.58. On a non-GAAP basis, operating income was $379.6 million with non-GAAP diluted earnings per share of $1.94, $0.03 better than Company guidance.

For fiscal year 2018, revenue was $3.868 billion, up 6 percent year-over-year with GAAP diluted earnings per share of $5.01. Non-GAAP diluted earnings per share for fiscal year 2018 was $7.22, up 12 percent from fiscal year 2017.

“Skyworks delivered a record fourth quarter and fiscal 2018, marking our ninth consecutive year of revenue and non-GAAP earnings growth ─ demonstrably outperforming the broader semiconductor industry,” said Liam K. Griffin, president and chief executive officer of Skyworks. “From industrial IoT to frictionless commerce, autonomous vehicles, ubiquitous streaming and virtual reality, Skyworks is revolutionizing the way the world communicates. As 5G rapidly approaches, we are pushing the performance envelope with our comprehensive Sky5™ platform and positioning Skyworks to extend our reach across a wide array of high growth applications.”

Fourth Quarter Business Highlights

• Validated leadership performance of Sky5™ suite for 5G New Radio architectures
• Introduced 5G wideband, 16-state antenna aperture tuners
• Powered Samsung’s Galaxy flagship smartphones
• Deployed massive MIMO and small cell solutions for global infrastructure
• Secured wireless networking sockets at Cisco for high-density enterprise applications
• Launched millimeter wave RF technology at a major avionics supplier
• Ramped connectivity and telematics engines with BMW, Geely, Hyundai, Tesla and Toyota
• Supported DOCSIS 3.1 CATV modems/gateways with 2.4 and 5 GHz front-ends
• Captured LTE Cat M content within u-blox’s machine-to-machine modules
• Leveraged smart audio solutions at Microsoft, Nintendo and Sony gaming platforms

First Fiscal Quarter 2019 Outlook

We provide earnings guidance on a non-GAAP basis because certain information necessary to reconcile such guidance to GAAP is difficult to estimate and dependent on future events outside of our control. Please refer to the attached Discussion Regarding the Use of Non-GAAP Financial Measures in this press release for a further discussion of our use of non-GAAP measures, including quantification of known expected adjustment items.

“Skyworks’ continued strength in broad markets coupled with the launch of a diverse set of high performance mobile solutions is offsetting unit declines in premium smartphones and overall China softness,” said Kris Sennesael, senior vice president and chief financial officer of Skyworks. “Specifically in the first fiscal quarter of 2019, we anticipate revenue to be between $1.000 billion and $1.020 billion with non-GAAP diluted earnings per share of $1.91 at the midpoint of our revenue range. Despite the near term industry weakness, we intend to deliver our tenth consecutive fiscal year of revenue and non-GAAP earnings growth.”

Dividend Payment

Skyworks’ Board of Directors has declared a cash dividend of $0.38 per share of the Company's common stock, payable on December 18, 2018, to stockholders of record at the close of business on November 27, 2018.

Skyworks' Fourth Fiscal Quarter 2018 Conference Call

Skyworks will host a conference call with analysts to discuss its fourth fiscal quarter 2018 results and business outlook today at 5:00 p.m. Eastern time. To listen to the conference call via the Internet, please visit the investor relations section of Skyworks' website. To listen to the conference call via telephone, please call (800) 230-1093 (domestic) or (612) 234-9959 (international), confirmation code: 455397.