Skyworks Solutions Inc. Q1 Profit Decreases, misses estimates

(RTTNews) - Skyworks Solutions Inc. (SWKS) released a profit for first quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings came in at $309.4 million, or $1.93 per share. This compares with $399.9 million, or $2.40 per share, in last year's first quarter.

Excluding items, Skyworks Solutions Inc. reported adjusted earnings of $414.6 million or $2.59 per share for the period.

Analysts on average had expected the company to earn $2.61 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 11.9% to $1.33 billion from $1.51 billion last year.

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

-Earnings (Q1): $309.4 Mln. vs. $399.9 Mln. last year. -EPS (Q1): $1.93 vs. $2.40 last year. -Analyst Estimates: $2.61 -Revenue (Q1): $1.33 Bln vs. $1.51 Bln last year.

-Guidance: Next quarter revenue guidance: $1.125 - $1.175 Bln