WASHINGTON (dpa-AFX) - Skyworks Solutions, Inc. (SWKS) on Tuesday reported a drop in profit for the fourth quarter, as revenue declined and restructuring, acquisition-related and other charges weighed on operating results.
Net income for the fourth quarter fell to $23.4 million, or $0.15 per share, from $141.4 million, or $0.94 per share, in the year-ago quarter.
Revenue declined to $1.046 billion from $1.10 billion. Gross margin edged up to 40.9 percent from 40.7 percent.
Adjusted net income decreased to $193.3 million, or $1.28 per share, from $263.7 million, or $1.76 per share, a year earlier.
For the first quarter of fiscal 2027, Skyworks expects revenue of $1.80 billion to $1.90 billion and adjusted earnings per share of about $1.25 at the midpoint.
The company also expects to realize about $150 million in operating expense synergies during fiscal 2027 and targets an annualized synergy run rate of $250 million to $300 million by year-end, progressing toward at least $500 million within 24 to 36 months of the Qorvo combination.
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