(By Balaseshan) Skyworks Solutions Inc. (NASDAQ:SWKS
), which offers analog and mixed signal semiconductors, has updated its financial outlook for the fourth quarter. Despite guiding results above Street's view, its shares fell 3.32 percent in premarket.
For the fourth quarter, the company now anticipates revenue of $420 million, on the high end of its previous guidance range of $415 million to $420 million, which would represent an 8 percent sequential increase.
Skyworks now expects to deliver non-GAAP earnings per share of $0.52 versus forecast of $0.50 to $0.51 per share, which would represent a 16 percent sequential increase.
Analysts, on average, polled by Thomson Reuters expect earnings of $0.51 per share on revenue of $419.78 million for the fourth quarter.
Skyworks said it updated financial outlook given strong program ramps across its high performance analog and mobile Internet businesses, as well as continued operating leverage within its business model.
The company's previous guidance was provided on July 18, 2012 during its third quarter fiscal 2012 conference call.
Skyworks is hosting an Analyst Day on Thursday in Boston beginning at 9:30 am Eastern time. Members of the executive team will provide a business overview, discuss market and technology trends, operational plans and financial objectives.
SWKS closed Wednesday's regular session at $29.48. The stock has been trading between $13.72 and $31.44 for the past 52 weeks.