Skyworks Solutions Files Q1 2025 10-Q
Ticker: SWKS · Form: 10-Q · Filed: Feb 5, 2025 · CIK: 4127
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
Related Tickers: SWKS
TL;DR
SWKS Q1 2025 10-Q filed. Financials updated.
AI Summary
Skyworks Solutions, Inc. filed its 10-Q for the period ending December 27, 2024. The filing covers the first fiscal quarter of 2025. Key financial data and business operations for this period are detailed within the report.
Why It Matters
This filing provides investors with an update on Skyworks Solutions' financial performance and operational status for the first quarter of fiscal year 2025, crucial for understanding the company's trajectory.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks indicated.
Key Players & Entities
- SKYWORKS SOLUTIONS, INC. (company) — Filer of the 10-Q
- 20241227 (date) — End of the reporting period
- 20250205 (date) — Filing date
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is December 27, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on February 5, 2025.
What is the company's Central Index Key (CIK)?
The company's Central Index Key (CIK) is 0000004127.
What is the Standard Industrial Classification (SIC) code for Skyworks Solutions?
The SIC code for Skyworks Solutions is 3674, which corresponds to SEMICONDUCTORS & RELATED DEVICES.
What is the fiscal year end for Skyworks Solutions?
The fiscal year end for Skyworks Solutions is October 3rd.
Filing Stats: 4,547 words · 18 min read · ~15 pages · Grade level 8.9 · Accepted 2025-02-05 16:33:24
Key Financial Figures
- $0.25 — ich registered Common Stock, par value $0.25 per share SWKS Nasdaq Global Select Mar
- $1.0 billion — ed financial statement income exceeding $1.0 billion. The Company was subject to the provisi
Filing Documents
- swks-20241227.htm (10-Q) — 752KB
- exhibit101-fy25eip.htm (EX-10.1) — 25KB
- q125exhibit311.htm (EX-31.1) — 10KB
- q125exhibit312.htm (EX-31.2) — 10KB
- q125exhibit321.htm (EX-32.1) — 4KB
- q125exhibit322.htm (EX-32.2) — 4KB
- image_0.jpg (GRAPHIC) — 17KB
- 0000004127-25-000010.txt ( ) — 4499KB
- swks-20241227.xsd (EX-101.SCH) — 28KB
- swks-20241227_cal.xml (EX-101.CAL) — 63KB
- swks-20241227_def.xml (EX-101.DEF) — 110KB
- swks-20241227_lab.xml (EX-101.LAB) — 375KB
- swks-20241227_pre.xml (EX-101.PRE) — 260KB
- swks-20241227_htm.xml (XML) — 590KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
: FINANCIAL STATEMENTS (UNAUDITED)
ITEM 1: FINANCIAL STATEMENTS (UNAUDITED) 2 CONSOLIDATED STATEMENTS OF OPERATIONS 2 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME 3 CONSOLIDATED BALANCE SHEETS 4 CONSOLIDATED STATEMENTS OF CASH FLOWS 5 CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY 6
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 7
: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
ITEM 2: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 15
: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
ITEM 3: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 20
: CONTROLS AND PROCEDURES
ITEM 4: CONTROLS AND PROCEDURES 21
OTHER INFORMATION
PART II. OTHER INFORMATION 22
: LEGAL PROCEEDINGS
ITEM 1: LEGAL PROCEEDINGS 22
: RISK FACTORS
ITEM 1A: RISK FACTORS 22
: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
ITEM 2: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 24
: EXHIBITS
ITEM 6: EXHIBITS 25
SIGNATURES
SIGNATURES 26 1 Table of Contents PART 1. FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS. SKYWORKS SOLUTIONS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited, in millions, except per share amounts) Three Months Ended December 27, 2024 December 29, 2023 Net revenue $ 1,068.5 $ 1,201.5 Cost of goods sold 626.6 694.9 Gross profit 441.9 506.6 Operating expenses: Research and development 176.4 153.1 Selling, general, and administrative 82.6 78.8 Amortization of intangibles 0.2 0.2 Restructuring, impairment, and other charges 1.6 16.2 Total operating expenses 260.8 248.3 Operating income 181.1 258.3 Interest expense ( 6.8 ) ( 10.0 ) Other income, net 16.1 3.4 Income before income taxes 190.4 251.7 Provision for income taxes 28.4 20.4 Net income $ 162.0 $ 231.3 Earnings per share: Basic $ 1.01 $ 1.45 Diluted $ 1.00 $ 1.44 Weighted average shares: Basic 160.4 159.9 Diluted 161.4 161.0 See accompanying Notes to Consolidated Financial Statements. 2 Table of Contents SKYWORKS SOLUTIONS, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited, in millions) Three Months Ended December 27, 2024 December 29, 2023 Net income $ 162.0 $ 231.3 Other comprehensive income (loss), net of tax: Fair value of investments ( 0.1 ) 0.1 Pension adjustments — ( 0.2 ) Comprehensive income $ 161.9 $ 231.2 See accompanying Notes to Consolidated Financial Statements. 3 Table of Contents SKYWORKS SOLUTIONS, INC. CONSOLIDATED BALANCE SHEETS (In millions, except per share amounts) As of December 27, 2024 September 27, 2024 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 1,602.5 $ 1,368.6 Marketable securities 136.7 194.1 Receivables, net of allowances of $ 0.9 and $ 0.9 , respectively 520.0 508.8 Inventory 699.7 784.8 Other current assets 484.9 484.7 Total current assets 3,443.8 3,341.0 Property, plant, and equipment, net 1,247.0 1,280.3 Operating lease right-of-use assets 188.3 191.6 Goodwill 2,176.7 2,176.7 Intangible assets, net 884.0 900.5 Deferred tax as
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 1. DESCRIPTION OF BUSINESS, BASIS OF PRESENTATION, AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Skyworks Solutions, Inc., together with its consolidated subsidiaries ("Skyworks" or the "Company"), is a leading developer, manufacturer and provider of analog and mixed-signal semiconductor products and solutions for numerous applications, including aerospace, automotive, broadband, cellular infrastructure, connected home, defense, entertainment and gaming, industrial, medical, smartphone, tablet, and wearables. The accompanying unaudited interim consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") for interim financial reporting. Certain information and footnote disclosures, normally included in annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"), have been condensed or omitted pursuant to those rules and regulations. However, in management's opinion, the financial information reflects all adjustments, including those of a normal recurring nature, necessary to present fairly the results of operations, financial position, and cash flows of the Company for the periods presented. The results of operations, financial position, and cash flows for the Company during the interim periods are not necessarily indicative of those expected for the full year. This information should be read in conjunction with the Company's financial statements and notes thereto contained in the Company's Annual Report on Form 10-K for the fiscal year ended September 27, 2024, filed with the SEC on November 15, 2024, as amended by Amendment No. 1 to such Annual Report on Form 10-K, filed with the SEC on January 24, 2025 ("2024 10-K"). Certain items in the prior period financial statements have been reclassified to conform to the current period presentation. The p