$SWKS
SKYWORKS SOLUTIONS, INC.

2018 Q4 Form 10-Q Financial Statement

#000000412719000013 Filed on February 06, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q4
Revenue $972.0M $1.008B $1.052B
YoY Change -7.6% 2.42% 15.05%
Cost Of Revenue $486.9M $504.8M $515.1M
YoY Change -5.47% 3.93% 14.37%
Gross Profit $485.1M $503.6M $536.8M
YoY Change -9.63% 0.94% 15.71%
Gross Profit Margin 49.91% 49.94% 51.03%
Selling, General & Admin $47.80M $54.40M $51.30M
YoY Change -6.82% -3.55% 0.79%
% of Gross Profit 9.85% 10.8% 9.56%
Research & Development $109.2M $103.0M $98.00M
YoY Change 11.43% 12.2% 19.51%
% of Gross Profit 22.51% 20.45% 18.26%
Depreciation & Amortization $77.50M $83.80M $63.60M
YoY Change 21.86% 28.13% 15.01%
% of Gross Profit 15.98% 16.64% 11.85%
Operating Expenses $164.2M $163.7M $153.3M
YoY Change 7.11% 6.85% 7.96%
Operating Profit $320.9M $339.9M $383.5M
YoY Change -16.32% -1.68% 19.14%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $2.900M $3.300M $2.100M
YoY Change 38.1% 83.33% -362.5%
Pretax Income $323.8M $343.4M $385.6M
YoY Change -16.03% -1.24% 20.09%
Income Tax $38.90M $71.50M $315.2M
% Of Pretax Income 12.01% 20.82% 81.74%
Net Earnings $284.9M $285.5M $70.40M
YoY Change 304.69% 1.49% -72.69%
Net Earnings / Revenue 29.31% 28.31% 6.69%
Basic Earnings Per Share $1.61 $1.60 $0.38
Diluted Earnings Per Share $1.60 $1.58 $0.38
COMMON SHARES
Basic Shares Outstanding 176.6M shares 179.0M shares 183.1M shares
Diluted Shares Outstanding 177.7M shares 185.5M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.099B $1.027B $1.682B
YoY Change -34.64% -36.45% 24.51%
Cash & Equivalents $1.086B $733.3M $1.682B
Short-Term Investments $13.40M $294.1M
Other Short-Term Assets $91.90M $88.80M $87.70M
YoY Change 4.79% 29.26% 54.4%
Inventory $493.1M $490.2M $458.6M
Prepaid Expenses
Receivables $524.4M $655.8M $458.8M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.209B $2.262B $2.687B
YoY Change -17.8% -14.11% 22.2%
LONG-TERM ASSETS
Property, Plant & Equipment $1.141B $1.141B $869.1M
YoY Change 31.24% 29.31% 8.43%
Goodwill $1.190B $1.190B $883.0M
YoY Change 34.75% 34.75% 0.3%
Intangibles $130.1M $143.7M $68.20M
YoY Change 90.76% 111.95% -8.95%
Long-Term Investments $2.700M $22.80M
YoY Change
Other Assets $32.50M $33.00M $42.10M
YoY Change -22.8% -18.11% -24.82%
Total Long-Term Assets $2.530B $2.567B $1.908B
YoY Change 32.64% 32.31% 2.17%
TOTAL ASSETS
Total Short-Term Assets $2.209B $2.262B $2.687B
Total Long-Term Assets $2.530B $2.567B $1.908B
Total Assets $4.739B $4.829B $4.594B
YoY Change 3.15% 5.58% 13.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $156.5M $229.9M $161.6M
YoY Change -3.16% -11.03% 0.06%
Accrued Expenses $70.80M $85.20M $63.90M
YoY Change 10.8% 25.11% 11.91%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $357.3M $389.7M $321.5M
YoY Change 11.14% 0.46% 5.97%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $29.80M $31.70M $40.60M
YoY Change -26.6% 16.97% 37.16%
Total Long-Term Liabilities $29.80M $31.70M $40.60M
YoY Change -26.6% 16.97% 37.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $357.3M $389.7M $321.5M
Total Long-Term Liabilities $29.80M $31.70M $40.60M
Total Liabilities $700.6M $731.9M $693.8M
YoY Change 0.98% 44.1% 71.14%
SHAREHOLDERS EQUITY
Retained Earnings $3.951B $3.733B $3.069B
YoY Change 28.72% 22.01% 24.29%
Common Stock $3.132B $3.105B $2.982B
YoY Change 5.03% 5.64% 6.72%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.036B $2.733B $2.142B
YoY Change 41.73% 41.95% 34.36%
Treasury Stock Shares
Shareholders Equity $4.038B $4.097B $4.038B
YoY Change
Total Liabilities & Shareholders Equity $4.739B $4.829B $4.594B
YoY Change 3.15% 5.58% 13.0%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q4
OPERATING ACTIVITIES
Net Income $284.9M $285.5M $70.40M
YoY Change 304.69% 1.49% -72.69%
Depreciation, Depletion And Amortization $77.50M $83.80M $63.60M
YoY Change 21.86% 28.13% 15.01%
Cash From Operating Activities $549.0M $207.6M $360.8M
YoY Change 52.16% -49.42% -27.24%
INVESTING ACTIVITIES
Capital Expenditures -$129.5M -$112.3M -$34.20M
YoY Change 278.65% 15.3% -31.74%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $301.0M -$228.9M $0.00
YoY Change -100.0%
Cash From Investing Activities $171.5M -$341.2M -$34.20M
YoY Change -601.46% 250.31% -43.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $284.0M $172.5M
YoY Change 64.64% 61.97%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$368.1M -291.2M -261.9M
YoY Change 40.55% 107.7% 55.34%
NET CHANGE
Cash From Operating Activities $549.0M 207.6M 360.8M
Cash From Investing Activities $171.5M -341.2M -34.20M
Cash From Financing Activities -$368.1M -291.2M -261.9M
Net Change In Cash $352.4M -424.8M 64.70M
YoY Change 444.67% -345.83% -75.74%
FREE CASH FLOW
Cash From Operating Activities $549.0M $207.6M $360.8M
Capital Expenditures -$129.5M -$112.3M -$34.20M
Free Cash Flow $678.5M $319.9M $395.0M
YoY Change 71.77% -37.0% -27.66%

Facts In Submission

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CY2017Q4 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-261900000 USD
CY2018Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2900000 USD
CY2017Q4 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
0 USD
CY2018Q4 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
284000000 USD
CY2018Q4 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-368100000 USD
CY2017Q4 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-34200000 USD
CY2018Q4 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
171500000 USD
CY2017Q4 us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
0 USD
CY2017Q4 us-gaap Payments For Software
PaymentsForSoftware
6000000 USD
CY2017Q4 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
360800000 USD
CY2018Q4 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
549000000 USD
CY2017Q4 us-gaap Net Income Loss
NetIncomeLoss
70400000 USD
CY2018Q4 us-gaap Net Income Loss
NetIncomeLoss
284900000 USD
CY2017Q4 us-gaap Operating Expenses
OperatingExpenses
153300000 USD
CY2018Q4 us-gaap Operating Expenses
OperatingExpenses
164200000 USD
CY2017Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
383500000 USD
CY2018Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
320900000 USD
CY2018Q3 us-gaap Other Assets Current
OtherAssetsCurrent
88800000 USD
CY2018Q4 us-gaap Other Assets Current
OtherAssetsCurrent
91900000 USD
CY2018Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
33000000 USD
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
32500000 USD
CY2017Q4 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
0 USD
CY2018Q4 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
100000 USD
CY2017Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
0 USD
CY2018Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-600000 USD
CY2017Q4 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
5500000 USD
CY2018Q4 us-gaap Other Depreciation And Amortization
OtherDepreciationAndAmortization
15500000 USD
CY2018Q3 us-gaap Other Inventory Materials Supplies And Merchandise Under Consignment
OtherInventoryMaterialsSuppliesAndMerchandiseUnderConsignment
4500000 USD
CY2018Q4 us-gaap Other Inventory Materials Supplies And Merchandise Under Consignment
OtherInventoryMaterialsSuppliesAndMerchandiseUnderConsignment
7600000 USD
CY2018Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
74600000 USD
CY2018Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
130000000 USD
CY2018Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
31700000 USD
CY2018Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
29800000 USD
CY2017Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2100000 USD
CY2018Q4 us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
303200000 USD
CY2017Q4 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
14400000 USD
CY2018Q4 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2400000 USD
CY2018Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2549700000 USD
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2617100000 USD
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1140900000 USD
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1140600000 USD
CY2018Q3 us-gaap Receivables Net Current
ReceivablesNetCurrent
655800000 USD
CY2018Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
524400000 USD
CY2018Q4 us-gaap Payments For Software
PaymentsForSoftware
0 USD
CY2018Q4 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
1000000 USD
CY2017Q4 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
172500000 USD
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2018Q3 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q4 us-gaap Preferred Stock Value
PreferredStockValue
0 USD
CY2018Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
129000000 USD
CY2017Q4 us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
59100000 USD
CY2018Q4 us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
67100000 USD
CY2017Q4 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
44700000 USD
CY2018Q4 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
19400000 USD
CY2017Q4 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
0 USD
CY2018Q4 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
2200000 USD
CY2017Q4 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
28200000 USD
CY2018Q4 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
129500000 USD
CY2018Q3 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2018Q4 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2018Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2018Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2017Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
98000000 USD
CY2018Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
109200000 USD
CY2017Q4 us-gaap Restructuring Charges
RestructuringCharges
0 USD
CY2018Q4 us-gaap Restructuring Charges
RestructuringCharges
-200000 USD
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3732900000 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3950700000 USD
CY2017Q4 us-gaap Revenues
Revenues
1051900000 USD
CY2018Q4 us-gaap Revenues
Revenues
972000000 USD
CY2017Q4 us-gaap Sales Revenue Net
SalesRevenueNet
1051900000 USD
CY2018Q4 us-gaap Sales Revenue Net
SalesRevenueNet
972000000 USD
CY2017Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
51300000 USD
CY2018Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
47800000 USD
CY2017Q4 us-gaap Share Based Compensation
ShareBasedCompensation
25800000 USD
CY2018Q4 us-gaap Share Based Compensation
ShareBasedCompensation
20800000 USD
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Outstanding Stock Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfOutstandingStockMaximum
0.01
CY2018Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
1000000000 USD
CY2018Q1 us-gaap Stock Repurchase Program Expiration Date
StockRepurchaseProgramExpirationDate
2020-01-31
CY2017Q3 us-gaap Stockholders Equity
StockholdersEquity
4065700000 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
3900500000 USD
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
4097000000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
4038300000 USD
CY2018Q4 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
71.00
CY2018Q4 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
4000000 shares
CY2018Q3 us-gaap Treasury Stock Value
TreasuryStockValue
2732500000 USD
CY2018Q4 us-gaap Treasury Stock Value
TreasuryStockValue
3036100000 USD
CY2017Q4 us-gaap Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
172500000 USD
CY2018Q4 us-gaap Treasury Stock Value Acquired Par Value Method
TreasuryStockValueAcquiredParValueMethod
284000000 USD
CY2017Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
185500000 shares
CY2018Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
177700000 shares
CY2017Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
183100000 shares
CY2018Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
176600000 shares
CY2018Q4 us-gaap Fiscal Period
FiscalPeriod
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company&#8217;s fiscal year ends on the Friday closest to September&#160;30. Fiscal 2019 consists of </font><font style="font-family:inherit;font-size:10pt;">52</font><font style="font-family:inherit;font-size:10pt;"> weeks and ends on </font><font style="font-family:inherit;font-size:10pt;">September&#160;27, 2019</font><font style="font-family:inherit;font-size:10pt;">. Fiscal 2018 consisted of </font><font style="font-family:inherit;font-size:10pt;">52</font><font style="font-family:inherit;font-size:10pt;"> weeks and ended on </font><font style="font-family:inherit;font-size:10pt;">September&#160;28, 2018</font><font style="font-family:inherit;font-size:10pt;">. The </font><font style="font-family:inherit;font-size:10pt;">first</font><font style="font-family:inherit;font-size:10pt;"> quarters ended for fiscal 2019 and 2018 each consisted of </font><font style="font-family:inherit;font-size:10pt;">13</font><font style="font-family:inherit;font-size:10pt;"> weeks, and ended on </font><font style="font-family:inherit;font-size:10pt;">December&#160;28, 2018</font><font style="font-family:inherit;font-size:10pt;">, and </font><font style="font-family:inherit;font-size:10pt;">December&#160;29, 2017</font><font style="font-family:inherit;font-size:10pt;">, respectively. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>

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