(Adds forecast, CEO comments, updates share movement)
Jan 30 Skyworks Solutions Inc, a
supplier to Apple Inc, forecast better-than-expected
revenue for the traditionally slow second quarter, pushing its
shares up almost 15 percent in extended trade.
The company also reported higher-than-expected first-quarter
results on improved demand for its chips used to connect
cellphones to networks.
Skyworks said on Wednesday it expects revenue of $420
million for the current-quarter. Analysts on average were
expecting revenue of $415.8 million, according to Thomson
"For our second fiscal quarter we see continuing momentum as
key program ramps and growth in new product categories help to
offset normal seasonality," Chief Executive Dave Aldrich said in
a conference call with analysts.
Other Apple suppliers including audio chipmaker Cirrus Logic
Inc and chipmaker Broadcom Corp have forecast
weaker-than-expected current-quarter revenue.
Skyworks' net income rose to $66.5 million, or 34 cents per
share, in the first quarter, from $57.1 million, or 30 cents per
share, a year earlier.
Excluding items, the company earned 55 cents per share.
Revenue rose 15 percent to $454 million.
Analysts on average had expected earnings of 54 cents per
share on revenue of $450.5 million.
Skyworks shares were trading at $24.20 after the bell after
closing at $21.56 on the Nasdaq.
(Reporting By Aditya Kondalamahanty in Bangalore; Editing by
Supriya Kurane and Ted Kerr)