Skyworks Solutions (SWKS) FY2013 results: revenue $1.8 billion, up 14.2% on the year
Skyworks Solutions, Inc. (SWKS) reported revenue of $1.8 billion for fiscal 2013, the year ended 27 September 2013, up 14.2% on the year before. Net income was $278 million, up 37.6%, and diluted earnings per share $1.45. The figures are the company's own, from the 10-K it filed with the SEC on 18 November 2013.
Revenue
$1.8 billion
+14.2% on the year
FY2008FY2013
Operating margin
19.3%
16.3% a year earlier
FY2008FY2013
Net income
$278 million
+37.6% on the year
FY2008FY2013
Diluted EPS
$1.45
+38.1% on the year
FY2008FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
1,792
1,569
1,419
+14.2%
Cost of revenue
1,025
901
799
+13.7%
Gross profit
767
667
620
+14.9%
Gross margin
42.8%
42.5%
43.7%
Research and development
226
213
169
+6.5%
Selling, general and administrative
160
158
137
+0.8%
Operating income
345
256
295
+35.0%
Operating margin
19.3%
16.3%
20.8%
Interest expense
0.0
0.6
1.9
Pre-tax income
344
255
294
+35.1%
Income tax
66.4
52.9
67.3
+25.5%
Effective tax rate
19.3%
20.7%
22.9%
Net income
278
202
227
+37.6%
Net margin
15.5%
12.9%
16.0%
Diluted EPS
$1.45
$1.05
$1.19
+38.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
500
285
366
+75.2%
Capital expenditure
124
94.1
101
+31.5%
Free cash flow
376
191
265
+96.7%
Free cash flow margin
21.0%
12.2%
18.7%
Cash from investing
n/a
-303
-350
Cash from financing
n/a
-86.2
-59.0
Depreciation and amortisation
103
102
76.5
+1.1%
Share-based compensation
71.7
72.2
58.3
-0.7%
Buybacks
185
12.4
70.0
+1,390.5%
Dividends paid
0.0
0.0
n/a
Dividend per share
$0.00
$0.00
n/a
Diluted shares, weighted
192m
192m
191m
+0.2%
Shares outstanding at period end
188m
192m
186m
-2.3%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
2,101
1,905
1,609
+10.3%
Debt
0.0
0.0
26.7
Other liabilities
232
231
255
+0.4%
Total liabilities and equity
2,333
2,137
1,890
+9.2%
Fixed assets
329
279
251
+17.6%
Goodwill
800
801
663
-0.0%
Intangible assets
64.8
94.0
86.8
-31.1%
Securities held for sale or to maturity
n/a
n/a
3.2
Cash and equivalents
511
307
410
+66.4%
Receivables
293
298
178
-1.6%
Inventory
230
233
198
-1.5%
Other assets
106
125
99.8
-15.4%
Total assets
2,333
2,137
1,890
+9.2%
10-K for the year ended 27 September 2013, filed 18 November 2013: the filing.