2011 Q4 Form 10-Q Financial Statement

#000000412712000010 Filed on February 07, 2012

View on sec.gov

Income Statement

Concept 2011 Q4 2010 Q4
Revenue $393.8M $335.1M
YoY Change 17.51% 46.92%
Cost Of Revenue $221.9M $186.6M
YoY Change 18.92% 37.6%
Gross Profit $171.8M $148.5M
YoY Change 15.66% 60.58%
Gross Profit Margin 43.63% 44.32%
Selling, General & Admin $42.91M $30.61M
YoY Change 40.2% 16.37%
% of Gross Profit 24.98% 20.6%
Research & Development $46.94M $38.54M
YoY Change 21.79% 23.93%
% of Gross Profit 27.32% 25.95%
Depreciation & Amortization $17.27M $13.59M
YoY Change 27.12% 7.85%
% of Gross Profit 10.05% 9.15%
Operating Expenses $96.88M $71.20M
YoY Change 36.08% 19.46%
Operating Profit $74.97M $77.34M
YoY Change -3.07% 135.08%
Interest Expense $481.0K $537.0K
YoY Change -10.43% -128.26%
% of Operating Profit 0.64% 0.69%
Other Income/Expense, Net $175.0K -$69.00K
YoY Change -353.62% -117.25%
Pretax Income $74.66M $76.74M
YoY Change -2.7% 146.74%
Income Tax $17.54M $15.87M
% Of Pretax Income 23.49% 20.68%
Net Earnings $57.10M $60.87M
YoY Change -6.19% 4.4%
Net Earnings / Revenue 14.5% 18.16%
Basic Earnings Per Share $0.31 $0.34
Diluted Earnings Per Share $0.30 $0.32
COMMON SHARES
Basic Shares Outstanding 184.0M shares 180.7M shares
Diluted Shares Outstanding 189.7M shares 188.5M shares

Balance Sheet

Concept 2011 Q4 2010 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $445.6M $453.3M
YoY Change -1.7% 24.46%
Cash & Equivalents $445.6M $459.4M
Short-Term Investments
Other Short-Term Assets $33.31M $30.19M
YoY Change 10.35% 59.63%
Inventory $177.5M $125.1M
Prepaid Expenses
Receivables $199.0M $175.2M
Other Receivables $0.00 $0.00
Total Short-Term Assets $856.3M $789.9M
YoY Change 8.42% 33.85%
LONG-TERM ASSETS
Property, Plant & Equipment $240.4M $204.4M
YoY Change 17.63% 25.92%
Goodwill $664.0M $485.6M
YoY Change 36.75% 0.56%
Intangibles $80.20M $12.51M
YoY Change 541.15% -31.44%
Long-Term Investments
YoY Change
Other Assets $13.06M $11.16M
YoY Change 17.03% 13.13%
Total Long-Term Assets $1.058B $774.2M
YoY Change 36.7% 1.54%
TOTAL ASSETS
Total Short-Term Assets $856.3M $789.9M
Total Long-Term Assets $1.058B $774.2M
Total Assets $1.915B $1.564B
YoY Change 22.41% 15.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $96.03M $112.0M
YoY Change -14.23% 62.04%
Accrued Expenses $28.10M $35.70M
YoY Change -21.29% 21.43%
Deferred Revenue
YoY Change
Short-Term Debt $17.10M $50.00M
YoY Change -65.8% 0.0%
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $212.5M $204.3M
YoY Change 4.0% 4.12%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $24.70M
YoY Change -100.0% -40.48%
Other Long-Term Liabilities $38.47M $18.39M
YoY Change 109.18% 202.15%
Total Long-Term Liabilities $38.47M $18.39M
YoY Change 109.18% 202.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $212.5M $204.3M
Total Long-Term Liabilities $38.47M $18.39M
Total Liabilities $251.0M $247.5M
YoY Change 1.42% 1.49%
SHAREHOLDERS EQUITY
Retained Earnings -$44.15M -$327.9M
YoY Change -86.53% -29.52%
Common Stock $1.868B $1.686B
YoY Change 10.75% 4.64%
Preferred Stock
YoY Change
Treasury Stock (at cost) $158.6M $40.72M
YoY Change 289.53% 12.15%
Treasury Stock Shares
Shareholders Equity $1.664B $1.317B
YoY Change
Total Liabilities & Shareholders Equity $1.915B $1.564B
YoY Change 22.41% 15.63%

Cashflow Statement

Concept 2011 Q4 2010 Q4
OPERATING ACTIVITIES
Net Income $57.10M $60.87M
YoY Change -6.19% 4.4%
Depreciation, Depletion And Amortization $17.27M $13.59M
YoY Change 27.12% 7.85%
Cash From Operating Activities $77.23M $64.82M
YoY Change 19.14% -14.14%
INVESTING ACTIVITIES
Capital Expenditures -$6.400M -$29.30M
YoY Change -78.16% 96.64%
Acquisitions $0.00 $3.931M
YoY Change -100.0%
Other Investing Activities $0.00 -$400.0K
YoY Change -100.0% -69.23%
Cash From Investing Activities -$6.424M -$36.97M
YoY Change -82.62% 128.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $12.41M $18.21M
YoY Change -31.89%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$35.26M -$31.06M
YoY Change 13.54% -1450.22%
NET CHANGE
Cash From Operating Activities $77.23M $64.82M
Cash From Investing Activities -$6.424M -$36.97M
Cash From Financing Activities -$35.26M -$31.06M
Net Change In Cash $35.55M -$3.203M
YoY Change -1209.87% -105.2%
FREE CASH FLOW
Cash From Operating Activities $77.23M $64.82M
Capital Expenditures -$6.400M -$29.30M
Free Cash Flow $83.63M $94.12M
YoY Change -11.15% 4.12%

Facts In Submission

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PropertyPlantAndEquipmentNet
240401000 USD
CY2011Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
251365000 USD
CY2010Q4 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-68000 USD
CY2011Q4 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-45000 USD
CY2011Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
177940000 USD
CY2011Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
199010000 USD
CY2010Q4 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
0 USD
CY2011Q4 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
9316000 USD
CY2011Q4 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
0 USD
CY2010Q4 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
50000000 USD
CY2010Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
38543000 USD
CY2011Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
46941000 USD
CY2011Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
862000 USD
CY2011Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
712000 USD
CY2011Q4 us-gaap Restructuring Charges
RestructuringCharges
720000 USD
CY2010Q4 us-gaap Restructuring Charges
RestructuringCharges
0 USD
CY2011Q4 us-gaap Restructuring Costs
RestructuringCosts
720000 USD
CY2010Q4 us-gaap Restructuring Costs
RestructuringCosts
0 USD
CY2011Q4 us-gaap Restructuring Reserve
RestructuringReserve
1825000 USD
CY2011Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-44149000 USD
CY2011Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-101275000 USD
CY2010Q4 us-gaap Sales Revenue Net
SalesRevenueNet
335120000 USD
CY2011Q4 us-gaap Sales Revenue Net
SalesRevenueNet
393740000 USD
CY2010Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
30606000 USD
CY2011Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
35702000 USD
CY2011Q4 us-gaap Share Based Compensation
ShareBasedCompensation
15750000 USD
CY2010Q4 us-gaap Share Based Compensation
ShareBasedCompensation
13281000 USD
CY2011Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount
117600000 USD
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
1663665000 USD
CY2011Q3 us-gaap Stockholders Equity
StockholdersEquity
1609095000 USD
CY2011Q4 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
750000 shares
CY2011Q3 us-gaap Treasury Stock Value
TreasuryStockValue
130854000 USD
CY2011Q4 us-gaap Treasury Stock Value
TreasuryStockValue
158614000 USD
CY2011Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
36000000 USD
CY2011Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
100000 USD
CY2011Q4 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
3900000 USD
CY2011Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
23900000 USD
CY2011Q4 us-gaap Valuation Allowance Amount
ValuationAllowanceAmount
39400000 USD
CY2010Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
188541000 shares
CY2011Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
189682000 shares
CY2011Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
183956000 shares
CY2010Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
180706000 shares
CY2010Q4 swks Contribution Of Common Shares To Savings And Retirement Plans Related Expense
ContributionOfCommonSharesToSavingsAndRetirementPlansRelatedExpense
1471000 USD
CY2011Q4 swks Contribution Of Common Shares To Savings And Retirement Plans Related Expense
ContributionOfCommonSharesToSavingsAndRetirementPlansRelatedExpense
1011000 USD
CY2011Q4 swks Convertible Debt Premium Paid Upon Retirement
ConvertibleDebtPremiumPaidUponRetirement
5600000 USD
CY2007Q1 swks Debt Offering Number Of Tranches
DebtOfferingNumberOfTranches
2 tranches
CY2011Q4 swks Effective Interest Expense Recognized
EffectiveInterestExpenseRecognized
351000 USD
CY2010Q4 swks Effective Interest Expense Recognized
EffectiveInterestExpenseRecognized
328000 USD
CY2010Q4 swks Federal Research And Development Tax Credits
FederalResearchAndDevelopmentTaxCredits
4400000 USD
CY2011Q4 swks Fiscal Period Number Of Weeks
FiscalPeriodNumberOfWeeks
13 USD
CY2011Q4 swks Fiscal Period Number Of Weeks In Fiscal Year
FiscalPeriodNumberOfWeeksInFiscalYear
52
CY2009 swks Fiscal Period Number Of Weeks In Fiscal Year
FiscalPeriodNumberOfWeeksInFiscalYear
52 years
CY2010 swks Fiscal Period Number Of Weeks In Fiscal Year
FiscalPeriodNumberOfWeeksInFiscalYear
52 weeks
CY2011Q4 swks Future Taxable Income To Recognize Deferred Tax Assets
FutureTaxableIncomeToRecognizeDeferredTaxAssets
231100000 USD
CY2011Q3 swks Intangible Assets Excluding Goodwill Accumulated Amortization
IntangibleAssetsExcludingGoodwillAccumulatedAmortization
49127000 USD
CY2011Q4 swks Intangible Assets Excluding Goodwill Accumulated Amortization
IntangibleAssetsExcludingGoodwillAccumulatedAmortization
55253000 USD
CY2011Q4 swks Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
135455000 USD
CY2011Q3 swks Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
135935000 USD
CY2011Q4 swks Reacquisition Of Equity Instruments
ReacquisitionOfEquityInstruments
5610000 USD
CY2010Q4 swks Reacquisition Of Equity Instruments
ReacquisitionOfEquityInstruments
0 USD
CY2012Q1 swks Repayment Of Convertible Debt And Premium
RepaymentOfConvertibleDebtAndPremium
32800000 USD
CY2011Q4 swks Repurchase Of Common Stock Payroll Tax Withholdings
RepurchaseOfCommonStockPayrollTaxWithholdings
15355000 USD
CY2010Q4 swks Repurchase Of Common Stock Payroll Tax Withholdings
RepurchaseOfCommonStockPayrollTaxWithholdings
18434000 USD
CY2010Q3 swks Stock Repurchase Authorized Dollar Amount
StockRepurchaseAuthorizedDollarAmount
200000000 USD
CY2011Q4 swks Stock Repurchase Program Average Price Per Share
StockRepurchaseProgramAveragePricePerShare
16.54
CY2011Q4 dei Amendment Flag
AmendmentFlag
false
CY2011Q4 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--09-28
CY2011Q4 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2011Q4 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
CY2011Q4 dei Document Period End Date
DocumentPeriodEndDate
2011-12-30
CY2011Q4 dei Document Type
DocumentType
10-Q
CY2011Q4 dei Entity Central Index Key
EntityCentralIndexKey
0000004127
CY2012Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
188415515000 shares
CY2011Q4 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2011Q4 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2011Q2 dei Entity Public Float
EntityPublicFloat
USD
CY2011Q4 dei Entity Registrant Name
EntityRegistrantName
Skyworks Solutions, Inc.
CY2011Q4 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2011Q4 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes

Files In Submission

Name View Source Status
0000004127-12-000010-index-headers.html Edgar Link pending
0000004127-12-000010-index.html Edgar Link pending
0000004127-12-000010.txt Edgar Link pending
0000004127-12-000010-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
fiscal2012executiveincenti.htm Edgar Link pending
R1.htm Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
swks-20111230.xml Edgar Link completed
swks-20111230.xsd Edgar Link pending
swks-20111230_cal.xml Edgar Link unprocessable
swks-20111230_def.xml Edgar Link unprocessable
swks-20111230_lab.xml Edgar Link unprocessable
swks-20111230_pre.xml Edgar Link unprocessable
swks.jpg Edgar Link pending
swks1230201110q.htm Edgar Link pending
swks12302011ex3111.htm Edgar Link pending
swks12302011ex3121.htm Edgar Link pending
swks12302011ex3211.htm Edgar Link pending
swks12302011ex3221.htm Edgar Link pending