AI English summary of an SEC filing — figures as filed
Skyworks Solutions SWKSSkyworks Solutions said net revenue for the 3 months ended June 28, 2024 decreased to $905.5 million from $1,071.2 million in the corresponding period of fiscal 2023. The company cited lower demand for its mobile and mixed-signal products as the primary factor.
Key points
AI summarySkyworks Solutions said net revenue for the 3 months ended June 28, 2024 decreased to $905.5 million from $1,071.2 million in the corresponding period of fiscal 2023. The company cited lower demand for its mobile and mixed-signal products as the primary factor.
The company said gross profit for the 3 and 9 months ended June 28, 2024 decreased from the corresponding period of fiscal 2023. It cited an unfavorable product mix, lower unit volumes, and lower average selling prices as the main factors.
The company said its cash, cash equivalents, and marketable securities balance increased to $1,283.9 million as of June 28, 2024. It said the increase was offset in part by cash from operations of $273.5 million, dividend payments of $109.1 million, share repurchases of $77.4 million, and capital expenditures of $24.4 million.
The company said it repaid $300.0 million of the Term Loans it borrowed on July 26, 2021 over 9 months, and that as of June 28, 2024 there were no borrowings outstanding under either the Term Loan Facility or the Revolver. The company holds $500.0 million each of the Notes Due 2026 and the Notes Due 2031.
Key figures
Quarter ended June 28, 2024
- Revenue
- $906M
- Operating income
- $130M
- Net income
- $121M
- EPS
- $0.75
- Gross profit
- $364M
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Lower Quarterly Net Revenue and Company Explanations
Skyworks Solutions said net revenue for the 3 months ended June 28, 2024 decreased to $905.5 million from $1,071.2 million in the corresponding period of fiscal 2023. The company cited lower demand for its mobile and mixed-signal products as the primary factor.
Source · Based on the MD&A text of the filing
Company Explanation of Lower Gross Profit
The company said gross profit for the 3 and 9 months ended June 28, 2024 decreased from the corresponding period of fiscal 2023. It cited an unfavorable product mix, lower unit volumes, and lower average selling prices as the main factors.
Source · Based on the MD&A text of the filing
Quarter-End Cash Balance and Uses of Cash
The company said its cash, cash equivalents, and marketable securities balance increased to $1,283.9 million as of June 28, 2024. It said the increase was offset in part by cash from operations of $273.5 million, dividend payments of $109.1 million, share repurchases of $77.4 million, and capital expenditures of $24.4 million.
Source · Based on the MD&A text of the filing
Term Loan Repayment and Outstanding Borrowings
The company said it repaid $300.0 million of the Term Loans it borrowed on July 26, 2021 over 9 months, and that as of June 28, 2024 there were no borrowings outstanding under either the Term Loan Facility or the Revolver. The company holds $500.0 million each of the Notes Due 2026 and the Notes Due 2031.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
You can verify the report’s figures and statements in the original filing on SEC EDGAR.