UPDATE 2-Skyworks Q1 profit tops Wall St view; shares up

viernes 6 de febrero de 2009 00:40 CET

* Q1 profit tops Street expectations

* Sees Q2 rev to fall 20 pct sequentially

* Shares rise 12 pct (Adds details, updates share movement)

Feb 5 (Reuters) - Cellphone chipmaker Skyworks Solutions Inc (SWKS.O: Cotización) posted first-quarter profit above market estimates, helped by smart phone demand, sending its shares up 12 percent in after-hours trade.

The company also forecast second-quarter earnings range, the upper end of which topped market estimates by a penny. The company expects cost control measures to kick in during the quarter.

Skyworks, whose customers include Sony Ericsson and Samsung Electronics Co Ltd (005930.KS: Cotización), gets almost three-fourths of its revenue from handset business.

The company, which is trying to expand product portfolio beyond handset chips, said it had ceased to develop low-margin 3.5G and 4G cellular transceivers and diverted resources to high-growth analog markets.

This action will help improve the company's operating income by $20 million annually, it said.

First-quarter net income was $22 million, or 13 cents a share, compared with $19.1 million, or 12 cents a share, a year ago.   Continuación...