Skyworks Solutions, Inc. (NASDAQ: SWKS), an innovator of high
performance analog semiconductors connecting people, places and
things, today announced that its Board of Directors has declared a
quarterly cash dividend of $0.28 per share of the Company's common
stock, representing an eight percent increase from the prior
quarterly dividend of $0.26 per share. The dividend is payable on
August 25, 2016, to stockholders of record as of the close of
business on August 4, 2016.
In addition, Skyworks’ Board of Directors has authorized the
repurchase of up to $400 million of the Company's common
stock from time to time prior to July 19, 2018, on the open
market or in privately negotiated transactions, in compliance with
applicable securities laws and other legal requirements. This newly
authorized stock repurchase program replaces in its entirety
the $400 million stock repurchase program that was
approved by the Board of Directors on November 10, 2015, and
had approximately $73 million of repurchase authority
remaining.
The timing and amount of any shares of the Company’s common
stock that are repurchased under the new repurchase program will be
determined by the Company's management based on its evaluation of
market conditions and other factors. The repurchase program may be
suspended or discontinued at any time. Any repurchased shares will
be available for use in connection with the Company’s stock plans
and for other corporate purposes.
The Company currently expects to fund the repurchase program
using the Company's working capital. As of July 1, 2016, the
Company had cash and cash equivalents of approximately $974
million.
About Skyworks
Skyworks Solutions, Inc. is empowering the wireless networking
revolution. Our highly innovative analog semiconductors are
connecting people, places, and things, spanning a number of new and
previously unimagined applications within the automotive,
broadband, cellular infrastructure, connected home, industrial,
medical, military, smartphone, tablet and wearable markets.
Headquartered in Woburn, Massachusetts, Skyworks is a global
company with engineering, marketing, operations, sales, and service
facilities located throughout Asia, Europe and North America. For
more information, please visit Skyworks’ website at:
www.skyworksinc.com.
Safe Harbor Statement
This news release includes "forward-looking statements" intended
to qualify for the safe harbor from liability established by the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements include without limitation information
relating to future results and expectations of Skyworks (e.g.,
certain projections and business trends), plans for dividend
payments and expectations with respect to its stock repurchase
program. Forward-looking statements can often be identified by
words such as "anticipates," "expects," "forecasts," "intends,"
"believes," "plans," "may," "will," or "continue," and similar
expressions and variations or negatives of these words. All such
statements are subject to certain risks, uncertainties and other
important factors that could cause actual results to differ
materially and adversely from those projected, and may affect our
future operating results, financial position and cash flows.
These risks, uncertainties and other important factors include,
but are not limited to: uncertainty regarding global economic and
financial market conditions; the susceptibility of the
semiconductor industry and the markets addressed by our, and our
customers', products to economic downturns; the timing,
rescheduling or cancellation of significant customer orders and our
ability, as well as the ability of our customers, to manage
inventory; losses or curtailments of purchases or payments from key
customers, or the timing of customer inventory adjustments; the
availability and pricing of third-party semiconductor foundry,
assembly and test capacity, raw materials and supplier components;
changes in laws, regulations and/or policies that could adversely
affect either (i) the economy and our customers’ demand for our
products or (ii) the financial markets and our ability to raise
capital; our ability to develop, manufacture and market innovative
products in a highly price competitive and rapidly changing
technological environment; economic, social, military and
geo-political conditions in the countries in which we, our
customers or our suppliers operate, including security and health
risks, possible disruptions in transportation networks and
fluctuations in foreign currency exchange rates; fluctuations in
our manufacturing yields due to our complex and specialized
manufacturing processes; delays or disruptions in production due to
equipment maintenance, repairs and/or upgrades; our reliance on
several key customers for a large percentage of our sales;
fluctuations in the manufacturing yields of our third-party
semiconductor foundries and other problems or delays in the
fabrication, assembly, testing or delivery of our products; our
ability to timely and accurately predict market requirements and
evolving industry standards, and to identify opportunities in new
markets; uncertainties of litigation, including potential disputes
over intellectual property infringement and rights, as well as
payments related to the licensing and/or sale of such rights; our
ability to rapidly develop new products and avoid product
obsolescence; our ability to retain, recruit and hire key
executives, technical personnel and other employees in the
positions and numbers, with the experience and capabilities, and at
the compensation levels needed to implement our business and
product plans; lengthy product development cycles that impact the
timing of new product introductions; unfavorable changes in product
mix; the quality of our products and any remediation costs;
shorter-than-expected product life cycles; problems or delays that
we may face in shifting our products to smaller geometry process
technologies and in achieving higher levels of design integration;
and our ability to continue to grow and maintain an intellectual
property portfolio and obtain needed licenses from third parties,
as well as other risks and uncertainties, including, but not
limited to, those detailed from time to time in our filings with
the Securities and Exchange Commission.
The forward-looking statements contained in this news release
are made only as of the date hereof, and we undertake no obligation
to update or revise the forward-looking statements, whether as a
result of new information, future events or otherwise.
Note to Editors: Skyworks and Skyworks Solutions are trademarks
or registered trademarks of Skyworks Solutions, Inc. or its
subsidiaries in the United States and in other countries. All other
brands and names listed are trademarks of their respective
companies.
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version on businesswire.com: http://www.businesswire.com/news/home/20160721006359/en/
Skyworks Solutions, Inc.Media Relations:Pilar Barrigas,
949-231-3061orInvestor Relations:Mitch Haws,
949-231-3223
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