Skyworks Solutions Inc. Q3 Profit Decreases, but beats estimates

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

The company's bottom line totaled $195.8 million, or $1.22 per share. This compares with $267.3 million, or $1.66 per share, in last year's third quarter.

Excluding items, Skyworks Solutions Inc. reported adjusted earnings of $276.3 million or $1.73 per share for the period.

Analysts on average had expected the company to earn $1.70 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 13.0% to $1.07 billion from $1.23 billion last year.

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

-Earnings (Q3): $195.8 Mln. vs. $267.3 Mln. last year. -EPS (Q3): $1.22 vs. $1.66 last year. -Analyst Estimates: $1.70 -Revenue (Q3): $1.07 Bln vs. $1.23 Bln last year.

-Guidance: Next quarter revenue guidance: $1.190 - $1.240 Bln