Skyworks Solutions Raises Q3 Outlook - Quick Facts

(RTTNews) - Semiconductor maker Skyworks Solutions, Inc. (SWKS) Tuesday said it is increasing its earnings and revenue guidance for the third quarter.

David Aldrich, CEO of Skyworks, said the company "is capitalizing on the growing opportunity within the Internet of Things as well as increasing analog complexity associated withhigher data rate connectivity standards."

The company now expects adjusted earnings of $0.80 per share on revenues of $570 million for the fourth quarter. In a previous earnings statement, Skyworks had projected adjusted earnings of $0.73 per share on revenues of $535 million.

Analysts polled by Thomson-Reuters expect earnings of $0.73 per share on revenues of $535.53 million for the third quarter.

The company expects the recently-announced joint venture with Panasonic (PCRFY.PK, PCRFF.PK) to add at least 100 basis points to gross margin in fiscal 2015.