Skyworks ($SWKS) Raises the Bar and Sees $8 EPS in 2 Years

Skyworks Solutions [stckqut]SWKS[/stckqut] posted fiscal 4Q financial results late Thursday that impressed investors and raised its EPS forecasts, sending shares rising almost 8% in recent market action.

At $1.52, EPS rose in line with the Street’s expectations during the quarter that ended Oct. 2 while revenue climbed 23% to almost $881 million. During the current quarter, Skyworks expects to earn $1.60 a share on revenue of $925 million to $930 million, besting the $1.57 and $921.5 million expected by the Street.

But it’s the company’s longer-term EPS guidance that caught everyone’s attention. Skyworks expects annualized EPS of $8 within the next two years, up from the $7 previous target. That overshadowed lingering worries that maturing iPhone sales will hurt Skyworks and other members of Apple’s [stckqut]AAPL[/stckqut] supply chain during the coming holiday season.

Source: Skyworks Raises the Bar; Sees $8 EPS in 2 Years

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