Skyworks Solutions Inc. Q2 Profit Decreases, But Beats Estimates

(RTTNews) - Skyworks Solutions Inc. (SWKS) announced a profit for second quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $68.7 million, or $0.43 per share. This compares with $183.3 million, or $1.14 per share, last year.

Excluding items, Skyworks Solutions Inc. reported adjusted earnings of $196.8 million or $1.24 per share for the period.

Analysts on average had expected the company to earn $1.20 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 8.9% to $0.953 billion from $1.046 billion last year.

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

-Earnings: $68.7 Mln. vs. $183.3 Mln. last year. -EPS: $0.43 vs. $1.14 last year. -Revenue: $0.953 Bln vs. $1.046 Bln last year.

-Guidance: Next quarter revenue guidance: $920 - $960 Mln