Skyworks Solutions (SWKS) FY2014 results: revenue $2.3 billion, up 27.9% on the year
Skyworks Solutions, Inc. (SWKS) reported revenue of $2.3 billion for fiscal 2014, the year ended 3 October 2014, up 27.9% on the year before. Net income was $458 million, up 64.6%, and diluted earnings per share $2.38. The figures are the company's own, from the 10-K it filed with the SEC on 25 November 2014.
Revenue
$2.3 billion
+27.9% on the year
FY2008FY2014
Operating margin
24.7%
19.3% a year earlier
FY2008FY2014
Net income
$458 million
+64.6% on the year
FY2008FY2014
Diluted EPS
$2.38
+64.1% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
2,292
1,792
1,569
+27.9%
Cost of revenue
1,269
1,025
901
+23.7%
Gross profit
1,023
767
667
+33.4%
Gross margin
44.6%
42.8%
42.5%
Research and development
252
226
213
+11.4%
Selling, general and administrative
179
160
158
+12.1%
Operating income
565
345
256
+63.8%
Operating margin
24.7%
19.3%
16.3%
Interest expense
n/a
0.0
0.6
Pre-tax income
565
344
255
+64.1%
Income tax
108
66.4
52.9
+61.9%
Effective tax rate
19.0%
19.3%
20.7%
Net income
458
278
202
+64.6%
Net margin
20.0%
15.5%
12.9%
Diluted EPS
$2.38
$1.45
$1.05
+64.1%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
772
500
285
+54.6%
Capital expenditure
209
124
94.1
+68.5%
Free cash flow
564
376
191
+50.0%
Free cash flow margin
24.6%
21.0%
12.2%
Cash from investing
n/a
n/a
-303
Cash from financing
n/a
n/a
-86.2
Depreciation and amortisation
123
103
102
+18.7%
Share-based compensation
86.0
71.7
72.2
+19.9%
Buybacks
166
185
12.4
-10.4%
Dividends paid
41.7
0.0
0.0
Dividend per share
$0.22
$0.00
$0.00
Diluted shares, weighted
193m
192m
192m
+0.2%
Shares outstanding at period end
189m
188m
192m
+0.7%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
2,532
2,101
1,905
+20.5%
Debt
0.0
0.0
0.0
Other liabilities
441
232
231
+90.3%
Total liabilities and equity
2,974
2,333
2,137
+27.5%
Fixed assets
556
329
279
+69.2%
Goodwill
851
800
801
+6.3%
Intangible assets
75.0
64.8
94.0
+15.7%
Cash and equivalents
1,084
511
307
+112.1%
Receivables
318
293
298
+8.5%
Inventory
271
230
233
+18.0%
Other assets
n/a
106
125
Total assets
2,974
2,333
2,137
+27.5%
10-K for the year ended 3 October 2014, filed 25 November 2014: the filing.