SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

   Technology StocksSWKS - Skyworks Solutions, Inc (was AHAA)


Previous 10 Next 10 
From: Savant7/22/2011 12:24:53 PM
   of 1698
 
Skyworks Exceeds Q3 FY11 Revenue and EPS Estimates and Guides to $0.53 of
Non-GAAP EPS in Q4 FY11

Delivers $356.1 Million in Revenue; Up 27 Percent Year-Over-Year, excluding SiGe
Acquisition

WOBURN, Mass., Jul 21, 2011 (BUSINESS WIRE) -- --Increases Non-GAAP Operating
Income 54 Percent Year-Over-Year (35 Percent GAAP)

--Posts Non-GAAP Diluted Earnings Per Share of $0.49 ($0.27 GAAP)

--Generates $86 Million in Cash Flow from Operations

--Forecasts $400 Million in Revenue and $0.53 of Non-GAAP Diluted EPS in Q4 FY11

Skyworks Solutions, Inc. (SWKS), an innovator of high reliability analog and
mixed signal semiconductors enabling a broad range of end markets, today reported
third fiscal quarter 2011 results. Revenue in the June quarter was $356.1
million, including $6.5 million of revenue from the acquisition of SiGe
Semiconductor which closed on June 10, 2011. This compares to the Company's
revenue guidance of $345 million, excluding the SiGe acquisition.

On a non-GAAP basis, operating income for the third fiscal quarter of 2011 was
$97.6 million, up from $63.5 million in the prior-year period, reflecting a 54
percent increase. Non-GAAP diluted earnings per share for the third fiscal
quarter was $0.49 versus prior guidance of $0.46, and representing a 53 percent
improvement when compared to $0.32 for the same period a year ago. On a GAAP
basis, operating income for the third fiscal quarter of 2011 was $72.2 million
and diluted earnings per share was $0.27 after one time acquisition and other
related costs.

"Skyworks exceeded all key metrics last quarter and we see a steep growth
trajectory heading into the second half of calendar 2011," said David J. Aldrich,
president and chief executive officer of Skyworks. "Our momentum is being driven
by content growth and share gains within leading smart phones, tablets, gaming
platforms, home automation systems and network infrastructure coupled with
diversification into new vertical markets. Further, the advent of LTE,
machine-to-machine and cloud computing applications is translating into stronger
design win activity as more and more electronic platforms are becoming wirelessly
enabled to share data, voice and video. Given our differentiated product
portfolio, extensive customer engagements, technology roadmaps and scale,
Skyworks is uniquely positioned to capitalize on this rapidly approaching
connectivity revolution and, in turn, to sustainably outpace industry growth."

Business Highlights

-- Expanded gross margin by 166 basis points year-over-year to 44.9 percent on a
non-GAAP basis (43.9 percent GAAP)

-- Closed acquisition of mobile data connectivity leader SiGe Semiconductor

-- Announced intent to acquire power management innovator Advanced Analogic
Technologies

-- Unveiled industry's first stand-alone, high-dynamic range power detectors for
3G and LTE smart phones and datacards

-- Secured high power, transmit/receive switches, high frequency modulators and
wide-band digital attenuator sockets in support of TD-LTE China market

-- Launched ultra-low power LNAs for diverse markets including set-top boxes,
Bluetooth(R) headsets, hearing aids, meter readers and 2.4 GHz wireless networks

-- Captured wireless networking design wins in support of home monitoring and
security deployments

-- Awarded major electronic toll collection system contract with portfolio of
analog control ICs

-- Enabled wireless connectivity at all three market leading gaming console OEMs

-- Ramped high-power filters for military and homeland security markets

Fourth Fiscal Quarter 2011 Outlook

"Based on strong bookings and order visibility, the stage is set for Skyworks to
again outperform our addressable markets and deliver operating leverage," said
Donald W. Palette, vice president and chief financial officer of Skyworks.
"Specifically, for the current quarter, we are guiding to revenue of $400 million
with non-GAAP diluted earnings per share of $0.53."

For further information regarding use of non-GAAP measures in this press release,
please refer to the Discussion Regarding the Use of Non-GAAP Financial Measures
set forth below.

Skyworks' Third Fiscal Quarter 2011 Conference Call

Skyworks will host a conference call with analysts to discuss its third fiscal
quarter 2011 results and business outlook today at 5:00 p.m. Eastern time. To
listen to the conference call via the Internet, please visit the investor
relations section of Skyworks' Web site. To listen to the conference call via
telephone, please call 888-278-8476 (domestic) or 913-312-0846 (international),
confirmation code: 1581426.

Playback of the conference call will begin at 9:00 p.m. Eastern time on July 21,
and end at 9:00 p.m. Eastern time on July 28. The replay will be available on
Skyworks' Web site or by calling 888-203-1112 (domestic) or 719-457-0820
(international), pass code: 1581426.

About Skyworks

Skyworks Solutions, Inc. is an innovator of high reliability analog and mixed
signal semiconductors. Leveraging core technologies, Skyworks offers diverse
standard and custom linear products supporting automotive, broadband, cellular
infrastructure, energy management, industrial, medical, military and mobile
handset applications. The Company's portfolio includes amplifiers, attenuators,
detectors, diodes, directional couplers, front-end modules, hybrids,
infrastructure RF subsystems, mixers/demodulators, optocouplers, phase shifters,
PLLs/synthesizers/VCOs, power dividers/combiners, receivers, switches and
technical ceramics.

Headquartered in Woburn, Mass., Skyworks is worldwide with engineering,
manufacturing, sales and service facilities throughout Asia, Europe and North
America. For more information, please visit Skyworks' Web site at:
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 (including
without limitation certain projections and business trends). 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: whether we are able to satisfy the closing conditions and close our
acquisition of Advanced Analogic Technologies; whether we are able to
successfully integrate SiGe Semiconductor's and/or Advanced Analogic
Technologies' operations; uncertainty regarding global economic and financial
market conditions; the susceptibility of the wireless 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 in the United States
that could adversely affect 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 and 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.

These forward-looking statements 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.

Additional Information about the Advanced Analogic Technologies Incorporated
Transaction and Where to Find It

Skyworks filed with the Securities and Exchange Commission ("SEC") on June 17,
2011 a Registration Statement on Form S-4 and plans to file a Registration
Statement on Form S-8 in connection with its pending acquisition of Advanced
Analogic Technologies Incorporated, and Advanced Analogic Technologies filed on
June 17, 2011 with the SEC a Proxy Statement/Prospectus in connection with the
transaction which it plans to mail to its stockholders. The Registration
Statement on Form S-4 and the Proxy Statement/Prospectus contain, and the
Registration Statement on Form S-8 when it becomes available will contain,
important information about Skyworks, Advanced Analogic Technologies, the
transaction and related matters. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ
CAREFULLY THE REGISTRATION STATEMENTS AND PROXY STATEMENT/PROSPECTUS AS THEY
BECOME AVAILABLE.

Investors and security holders can to obtain free copies of the Registration
Statement on Form S-4 (and the Registration Statement on Form S-8 when it becomes
available) and the Proxy Statement/Prospectus and other documents filed with the
SEC by Skyworks and Advanced Analogic Technologies through the website maintained
by the SEC at sec.gov.

In addition, investors and security holders may obtain free copies of the
Registration Statement on Form S-4 (and the Registration Statement on Form S-8
when it becomes available) and the Proxy Statement/Prospectus from Skyworks by
contacting Skyworks' Investor Relations at (949) 231-4700, or by accessing
Skyworks' investor relations website at skyworksinc.com; or from
Advanced Analogic Technologies by contacting Advanced Analogic Technologies'
Investor Relations at The Blueshirt Group, Lisa Laukkanen, at (415) 217-4967 or
by accessing Advanced Analogic Technologies' investor relations website at
analogictech.com.

Participants in the Solicitation

Skyworks and Advanced Analogic Technologies, and their respective directors and
executive officers, may be deemed to be participants in the solicitation of
proxies in respect of the vote by Advanced Analogic Technologies stockholders on
the acquisition of Advanced Analogic Technologies by Skyworks. Information about
the directors and executive officers of Skyworks and Advanced Analogic
Technologies are set forth in Skyworks' and Advanced Analogic Technologies' most
recent Form 10-K/A, which were filed with the SEC on January 31, 2011 and May 2,
2011, respectively, as well as Skyworks' proxy statement dated, and filed with
the SEC on, April 7, 2011. Investors may obtain additional information regarding
the interest of Skyworks and its directors and officers, and Advanced Analogic
Technologies and its directors and executive officers in the proposed
transaction, by reading the Registration Statement on Form S-4 and the Proxy
Statement/Prospectus regarding the transaction and the Registration Statement on
Form S-8 when it becomes available.

SKYWORKS SOLUTIONS, INC.
UNAUDITED CONSOLIDATED STATEMENT OF OPERATIONS
Three Months EndedNine Months Ended
----------------------------- -------------------------------
July 1,July 2,July 1,July 2,
(in thousands, except per share amounts)2011201020112010
-------------- -------------- ---------------- --------------
Net revenue$ 356,075$ 275,370$ 1,016,606$ 758,566
Cost of goods sold199,850157,104570,862437,892
------------------------------
Gross profit156,225118,266445,744320,674
Operating expenses:
Research and development43,06734,882121,22898,731
Selling, general and administrative35,45129,45198,16784,164
Restructuring and other charges1,475(1,040)1,475(1,040)
Amortization of intangibles4,0061,5017,2464,502
------------------------------
Total operating expenses83,99964,794228,116186,357
Operating income72,22653,472217,628134,317
Interest expense(465)(867)(1,463)(3,619)
Gain (loss) on early retirement of convertible debt-45-(79)
Other (loss) income, net(2)19(185)(300)
------- ------------------ --------- --
Income before income taxes71,75952,669215,980130,319
Provision for income taxes20,21117,93353,60439,829
------------------------------
Net income$51,548$34,736$162,376$90,490
== ========= ========= =========== =======
Earnings per share:
Basic$0.28$0.20$0.89$0.52
Diluted$0.27$0.19$0.85$0.50
Weighted average shares:
Basic183,750175,495182,642174,220
Diluted191,380183,889190,628182,072

SKYWORKS SOLUTIONS, INC.
UNAUDITED RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
Three Months EndedNine Months Ended
--------------------------------- ---------------------------------
July 1,July 2,July 1,July 2,
(in thousands)2011201020112010
---------------- ---------------- ---------------- ----------------
GAAP gross profit$ 156,225$ 118,266$ 445,744$ 320,674
Share-based compensation expense [a]2,1789215,3972,752
Acquisition-related expense 1,617-1,617-
----------------------------
Non-GAAP gross profit$ 160,020$ 119,187$ 452,758$ 323,426
=== ========== ========== ========== =======
Non-GAAP gross margin %44.9 %43.3 %44.5 %42.6 %
Three Months EndedNine Months Ended
--------------------------------- ---------------------------------
July 1,July 2,July 1,July 2,
(in thousands)2011201020112010
---------------- ---------------- ---------------- ----------------
GAAP operating income$72,226$53,472$ 217,628$ 134,317
Share-based compensation expense [a]14,5439,43542,68826,239
Acquisition-related expense 2,857-3,505-
Litigation settlement gains and losses [c]2,300-2,300-
Amortization of intangible assets4,0061,5017,2464,502
Restructuring & other charges (credits) [d]1,475(1,040)1,475(1,040)
Deferred executive compensation143173451519
Non-GAAP operating income$97,550$63,541$ 275,293$ 164,537
=== ========== ========== ========== =======
Non-GAAP operating margin %27.4 %23.1 %27.1 %21.7 %
Three Months EndedNine Months Ended
--------------------------------- ---------------------------------
July 1,July 2,July 1,July 2,
(in thousands)2011201020112010
---------------- ---------------- ---------------- ----------------
GAAP net income$51,548$34,736$ 162,376$90,490
Share-based compensation expense [a]14,5439,43542,68826,239
Acquisition-related expense 2,857-3,505-
Litigation settlement gains and losses [c]2,300-2,300-
Amortization of intangible assets4,0061,5017,2464,502
Restructuring & other charges (credits) [d]1,475(1,040)1,475(1,040)
Deferred executive compensation143173451519
(Gain) loss on early retirement of convertible debt [e]-(45)-79
Amortization of discount on convertible debt [f]3394781,0002,180
Tax adjustments [g]15,82713,51135,42327,695
----------------------------
Non-GAAP net income$93,038$58,749$ 256,464$ 150,664
=== ========== ========== ========== =======
Three Months EndedNine Months Ended
--------------------------------- ---------------------------------
July 1,July 2,July 1,July 2,
2011201020112010
---------------- ---------------- ---------------- ----------------
GAAP net income per share, diluted$0.27$0.19$0.85$0.50
Share-based compensation expense [a]0.080.050.220.14
Acquisition-related expense 0.02-0.02-
Litigation settlement gains and losses [c]0.01-0.01-
Amortization of intangible assets0.020.010.040.03
Restructuring & other charges (credits) [d]0.01-0.01-
Amortization of discount on convertible debt [f]--0.010.01
Tax adjustments [g]0.080.070.190.15
----------------------------
Non-GAAP net income per share, diluted$0.49$0.32$1.35$0.83
=== ========== ========== ========== =======

SKYWORKS SOLUTIONS, INC.

DISCUSSION REGARDING THE USE OF NON-GAAP FINANCIAL MEASURES

Our earnings release contains some or all of the following financial measures
which have not been calculated in accordance with United States Generally
Accepted Accounting Principles (GAAP): (i) non-GAAP gross profit and gross
margin, (ii) non-GAAP operating income and operating margin, (iii) non-GAAP net
income, and (iv) non-GAAP net income per share (diluted). As set forth in the
"Unaudited Reconciliation of Non-GAAP Financial Measures" table found above, we
derive such non-GAAP financial measures by excluding certain expenses and other
items from the respective GAAP financial measure that is most directly comparable
to each non-GAAP financial measure. Management uses these non-GAAP financial
measures to evaluate our operating performance and compare it against past
periods, make operating decisions, forecast for future periods, compare operating
performance against peer companies and determine payments under certain
compensation programs. These non-GAAP financial measures provide management with
additional means to understand and evaluate the operating results and trends in
our ongoing business by eliminating certain non-recurring expenses (which may not
occur in each period presented) and other items that management believes might
otherwise make comparisons of our ongoing business with prior periods and
competitors more difficult, obscure trends in ongoing operations or reduce
management's ability to make useful forecasts.

We provide investors with non-GAAP gross profit and gross margin, non-GAAP
operating income and operating margin and non-GAAP net income because we believe
it is important for investors to be able to closely monitor and understand
changes in our ability to generate income from ongoing business operations. We
believe these non-GAAP financial measures give investors an additional method to
evaluate historical operating performance and identify trends, additional means
of evaluating period-over-period operating performance and a method to facilitate
certain comparisons of operating results to peer companies. We also believe that
providing non-GAAP operating income and operating margin allows investors to
assess the extent to which ongoing operations impact our overall financial
performance. We further believe that providing non-GAAP net income and non-GAAP
net income per share (diluted) allows investors to assess the overall financial
performance of ongoing operations by eliminating the impact of certain financing
decisions related to our convertible debt and certain tax items which may not
occur in each period for which financial information is presented and which
represent gains or losses unrelated to our ongoing operations. We believe that
disclosing these non-GAAP financial measures contributes to enhanced financial
reporting transparency and provides investors with added clarity about complex
financial performance measures.

We calculate non-GAAP gross profit by excluding from GAAP gross profit, stock
compensation expense, restructuring-related charges and acquisition-related
expenses. We calculate non-GAAP operating income by excluding from GAAP operating
income, stock compensation expense, restructuring-related charges,
acquisition-related expenses, litigation settlement gains and losses and certain
deferred executive compensation. We calculate non-GAAP net income and net income
per share (diluted) by excluding from GAAP net income and net income per share
(diluted), stock compensation expense, restructuring-related charges,
acquisition-related expenses, litigation settlement gains and losses,
amortization of discount on convertible debt, and certain deferred executive
compensation, as well as certain items related to the retirement of convertible
debt, and certain tax items, which may not occur in all periods for which
financial information is presented. We exclude the items identified above from
the respective non-GAAP financial measure referenced above for the reasons set
forth with respect to each such excluded item below:

Stock Compensation - because (1) the total amount of expense is partially outside
of our control because it is based on factors such as stock price volatility and
interest rates, which may be unrelated to our performance during the period in
which the expense is incurred, (2) it is an expense based upon a valuation
methodology premised on assumptions that vary over time, and (3) the amount of
the expense can vary significantly between companies due to factors that can be
outside of the control of such companies.

Acquisition-Related Expenses - including such items as, when applicable,
amortization of acquired intangible assets, fair value adjustments to contingent
consideration, fair value charges incurred upon the sale of acquired inventory,
acquisition-related professional fees and deemed compensation expenses, because
they are not considered by management in making operating decisions and we
believe that such expenses do not have a direct correlation to future business
operations and thereby including such charges does not accurately reflect the
performance of our ongoing operations for the period in which such charges are
incurred.

Litigation settlement gains and losses - including gains and losses related to
the resolution of other than ordinary course threatened and actually filed
lawsuits and other than ordinary course contractual disputes, because (1) they
are not considered by management in making operating decisions, (2) such gains
and losses tend to be infrequent in nature, (3) such gains and losses are
generally not directly controlled by management, (4) we believe such gains and
losses do not necessarily reflect the performance of our ongoing operations for
the period in which such charges are recognized and (5) the amount of such gains
or losses can vary significantly between companies and make comparisons
difficult.

Restructuring-Related Charges - because, to the extent such charges impact a
period presented, we believe that they have no direct correlation to future
business operations and including such charges does not necessarily reflect the
performance of our ongoing operations for the period in which such charges are
incurred.

Deferred Executive Compensation - including charges related to any contingent
obligation pursuant to an executive severance agreement because we believe the
period over which the obligation is amortized may not reflect the period of
benefit and that such expense has no direct correlation with our recurring
business operations and including such expenses does not accurately reflect the
compensation expense for the period in which incurred.

Amortization of Discount on Convertible Debt - comprised of the amortization of
the debt discount recorded at inception of the convertible debt borrowing related
to the adoption of ASC 470-20, because the expense is dependent on fair value
assessments and is not considered by management when making operating decisions.

Gains and Losses on Retirement of Convertible Debt - because, to the extent that
gains or losses from such repurchases impact a period presented, we do not
believe that they reflect the underlying performance of ongoing business
operations for such period.

Certain Income Tax Items - including certain deferred tax charges and benefits
which do not result in a current tax payment or tax refund and other adjustments
which are not indicative of ongoing business operations.

The non-GAAP financial measures presented in the table above should not be
considered in isolation and are not an alternative for, the respective GAAP
financial measure that is most directly comparable to each such non-GAAP
financial measure. Investors are cautioned against placing undue reliance on
these non-GAAP financial measures and are urged to review and consider carefully
the adjustments made by management to the most directly comparable GAAP financial
measures to arrive at these non-GAAP financial measures. Non-GAAP financial
measures may have limited value as analytical tools because they may exclude
certain expenses that some investors consider important in evaluating operating
performance or ongoing business. Further, non-GAAP financial measures are likely
to have limited value for purposes of drawing comparisons between companies
because different companies may calculate similarly titled non-GAAP financial
measures in different ways because non-GAAP measures are not based on any
comprehensive set of accounting rules or principles.

Our earnings release contains a forward looking estimate of non-GAAP diluted
earnings per share for the fourth quarter of our 2011 fiscal year ("Q4 2011"). We
provide this non-GAAP measure to investors on a prospective basis for the same
reasons (set forth above) that we provide them to investors on a historical
basis. We are unable to provide a reconciliation of our forward looking estimate
of Q4 2011 non-GAAP diluted earnings per share to a forward looking estimate of
Q4 2011 GAAP diluted earnings per share because certain information needed to
make a reasonable forward looking estimate of GAAP diluted earnings per share for
Q4 2011 (other than estimated stock compensation expense of $0.08 per diluted
share, certain tax items of $0.06 per diluted share, estimated acquisition
related expense of $0.09 per diluted share and estimated deferred executive
compensation expense and restructuring and other charges with a de minimis impact
per diluted share) is difficult to predict and estimate and is often dependent on
future events which may be uncertain or outside of our control. Such events may
include unanticipated gains and losses on retirement of convertible debt,
unanticipated one time charges related to asset impairments (fixed assets,
intangibles or goodwill), unanticipated acquisition related costs, unanticipated
litigation settlement gains and losses and other unanticipated non-recurring
items not reflective of ongoing operations. We believe the probable significance
of these unknown items, in aggregate, to be in the range of $0.00 to $0.05 in
quarterly earnings per diluted share on a GAAP basis. Our forward looking
estimates of both GAAP and non-GAAP measures of our financial performance may
differ materially from our actual results and should not be relied upon as
statements of fact.

[a]These charges represent expense recognized in accordance with ASC
718 - Compensation, Stock Compensation. Approximately $2.2
million, $4.2 million and $8.1 million were included in cost of
goods sold, research and development expense and selling, general
and administrative expense, respectively, for the three months
ended July 1, 2011. Approximately $5.4 million, $13.1 million and
$24.2 million were included in cost of goods sold, research and
development expense and selling, general and administrative
expense, respectively, for the nine months ended July 1, 2011.
For the three months ended July 2, 2010, approximately $0.9
million, $1.9 million and $6.6 million were included in costs of
goods sold, research and development expense and selling, general
and administrative expense, respectively. For the nine months
ended July 2, 2010, approximately $2.8 million, $5.4 million and
$18.0 million were included in costs of goods sold, research and
development expense and selling, general and administrative
expense, respectively.
The acquisition-related expense recognized during the three months
and nine months ended July 1, 2011 includes a $1.6 million charge
to cost of sales related to the sale of acquired inventory. Also
included in acquisition-related expense is $1.2 million and $1.9
million in transaction costs associated with acquisitions
completed or contemplated during the three months and nine months
ended July 1, 2011, respectively.
[c]During the three month period ended July 1, 2011, the Company
recognized a $2.3 million charge related to the resolution of a
contractual dispute.
[d]During the three months ended July 1, 2011, the Company
implemented a restructuring plan to reduce the headcount
associated with its acquisition of SiGe Semiconductor, Inc.
For the three months ended July 2, 2010, the Company recorded a
$1.0 million credit to restructuring and other charges related to
the sale of an impaired long-lived asset.
[e]The gain recorded during the three months ended July 2, 2010
relates to the retirement of $20.4 million of the Company's 1.50%
convertible subordinated notes due on March 1, 2012.
The net loss recorded during the nine months ended July 2, 2010
relates to a loss on the retirement of $32.6 million of the
Company's 1.25% convertible subordinated notes due on March 1,
2010 offset by a gain on the retirement of $20.4 million of the
Company's 1.50% convertible subordinated notes due on March 1,
2012.
[f]These charges represent the amortization expense recognized in
accordance with ASC 470-20. Approximately, $0.3 million and $1.0
million, respectively, of amortization expense was recognized
during the three months and nine months ended July 1, 2011.
Approximately $0.5 and $2.2 million, respectively, of amortization
expense was recognized during the three months and nine months
ended July 2, 2010.
[g]During the three months and nine months ended July 1, 2011 and
July 2, 2010, these amounts primarily represent the utilization of
net operating loss and research and development credit
carryforwards.

SKYWORKS SOLUTIONS, INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET
July 1,Oct. 1,
(in thousands)20112010
----------------- -----------------
Assets
Current assets:
Cash and cash equivalents$310,357$459,385
Accounts receivable, net186,129175,232
Inventories188,795125,059
26,85230,189
Prepaid expenses and other current assets
Property, plant and equipment, net252,755204,363
Goodwill and intangible assets, net768,996498,096
Other assets71,71571,728
------------------
Total assets$ 1,805,599$ 1,564,052
====== =============== =========
Liabilities and Equity
Current liabilities:
Credit facility$-$50,000
Convertible notes25,744-
Accounts payable116,648111,967
Accrued liabilities and other current liabilities101,95742,357
Long-term debt-24,743
Other long-term liabilities29,07618,389
Stockholders' equity1,532,1741,316,596
------------------
Total liabilities and equity$ 1,805,599$ 1,564,052
====== =============== =========

SOURCE: Skyworks Solutions, Inc.

Skyworks Media Relations:
Pilar Barrigas, 949-231-3061
or
Skyworks Investor Relations:
Stephen Ferranti, 781-376-3056

Share RecommendKeepReplyMark as Last Read


From: Savant8/3/2011 11:38:41 PM
   of 1698
 
Skyworks to Present at Oppenheimer Technology and Communications Conference

WOBURN, Mass., Aug 03, 2011 (BUSINESS WIRE) -- Skyworks Solutions, Inc. (SWKS),
an innovator of high reliability analog and mixed signal semiconductors enabling
a broad range of end markets, today announced that company executives will be
presenting a company overview at the Oppenheimer Technology and Communications
Conference on August 10, 2011 at 2:25 p.m. Eastern Time from the Four Seasons
Hotel in Boston.

The presentation will be Web cast live and archived for replay for one week
following the conference in the "Investor Relations" section of Skyworks' Web
site at skyworksinc.com.

Share RecommendKeepReplyMark as Last Read


From: Savant9/20/2011 12:41:12 PM
   of 1698
 
AnalogicTech Announces Response to Skyworks Latest Accusations

SANTA CLARA, Calif., Sept. 20, 2011 /PRNewswire via COMTEX/ -- Advanced Analogic
Technologies, Inc. (the "Company") (AATI) today announced its response to the
latest purported notice of breach made by Skyworks Solutions, Inc. (Skyworks) on
September 19, 2011. In its response, AnalogicTech noted that there was no basis
for Skyworks to claim a material adverse effect, and that Skyworks does not
purport that a material adverse effect has occurred. AnalogicTech further noted
that Skyworks notice was devoid of any specific facts as to the basis of its
claim of breach. AnalogicTech stated that the notice contained no facts
supporting the claim, because no such facts exist. AnalogicTech remains committed
to the completion of the transaction.

The Company cannot provide further commentary beyond the information that is in
the SEC filings and will continue to keep investors updated through appropriate
disclosures.

About Advanced Analogic Technologies, Inc.:

Advanced Analogic Technologies Incorporated (AATI), or AnalogicTech, develops
advanced semiconductor system solutions that play a key role in the continuing
evolution of feature-rich, energy efficient electronic devices. The company
focuses on addressing the application-specific power management needs of consumer
devices such as mobile handsets, digital cameras, tablets, notebooks, TV and LCD
displays as well as devices in a broad range of industrial, medical and telecom
applications. AATI also licenses device, process, package, and
application-related technologies. Headquartered in Silicon Valley, AATI has
design centers in Santa Clara and Shanghai, and Asia-based operations and
logistics. For more information, please visit analogictech.com.
-----
AnalogicTech Announces Developments Relating to its Pending Acquisition

SANTA CLARA, Calif., Sept. 16, 2011 /PRNewswire via COMTEX/ -- Advanced Analogic
Technologies, Inc. (the "Company") (AATI) today announced developments relating
to its pending acquisition by Skyworks Solutions, Inc. (Skyworks). As detailed in
the S-4 filing made by Skyworks on September 9, 2011, two meetings were scheduled
in an effort to resolve the matters in dispute between the two companies relating
to requested business and financial information, and access to an AnalogicTech
officer. These meetings took place on September 13, 2011 and September 15, 2011,
respectively. While AnalogicTech believes it had never been in breach of any of
its obligations under the merger agreement, to the extent Skyworks asserted there
was a breach of the merger agreement, the Company believes any such claimed
breach was cured by its actions in conjunction with these meetings.

The Company cannot provide further commentary beyond the information that is in
the SEC filings and will continue to keep investors updated through appropriate
disclosures.

Share RecommendKeepReplyMark as Last Read


From: Savant9/28/2011 10:52:51 AM
   of 1698
 
Skyworks Captures Leadership Position in Wireless Networking Market

SiGe Semiconductor Acquisition Accelerates Company's Vision of Enabling
Ubiquitous Mobile Connectivity

WOBURN, Mass., Sep 28, 2011 (BUSINESS WIRE) -- Skyworks Solutions, Inc. (SWKS),
an innovator of high reliability analog and mixed signal semiconductors enabling
a broad range of end markets, today announced that it has captured the market
leader position in wireless networking with the acquisition of SiGe
Semiconductor. Skyworks' connectivity solutions can be found powering a variety
of Internet access devices including smart phones, set-top boxes, gateways,
BluRay(R) players, gaming consoles, tablets and personal computers, high-power
access points and routers.

"Following the SiGe acquisition, we believe Skyworks' modules are enabling more
than one-third of the world's wireless radios, significantly more than any other
single company," said Allen Nogee, principle analyst at In-Stat, a market
research firm. "And with wireless networking providing bandwidth for smart phones
and expanding connectivity in tablets and other consumer devices, Skyworks is
well positioned to capture additional market share in this fast growing market."

"With the addition of SiGe's product portfolio and intellectual property,
Skyworks is delighted to be enabling mobile connectivity across a broader
spectrum of wireless networking markets and applications," said Liam K. Griffin,
executive vice president and general manager of high performance analog at
Skyworks. "Our combined product portfolio allows us to offer customers a breadth
of best-in-class solutions and capitalize on our position in tablets and smart
phones, where wireless networking attachment rates are approaching 100 percent,
as well as home automation and energy management."

About Skyworks

Skyworks Solutions, Inc. is an innovator of high reliability analog and mixed
signal semiconductors. Leveraging core technologies, Skyworks offers diverse
standard and custom linear products supporting automotive, broadband, cellular
infrastructure, energy management, industrial, medical, military and mobile
handset applications. The Company's portfolio includes amplifiers, attenuators,
circulators, detectors, diodes, directional couplers, front-end modules, hybrids,
infrastructure RF subsystems, isolators, mixers/demodulators, optocouplers,
optoisolators, phase shifters, PLLs/synthesizers/VCOs, power dividers/combiners,
receivers, switches and technical ceramics.

Headquartered in Woburn, Mass., Skyworks is worldwide with engineering,
manufacturing, sales and service facilities throughout Asia, Europe and North
America. For more information, please visit Skyworks' Web site at:
skyworksinc.com.

Share RecommendKeepReplyMark as Last Read


From: Savant11/4/2011 11:29:24 AM
   of 1698
 
Skyworks Delivers $402.3 Million in Revenue and $0.54 of Non-GAAP Diluted EPS
($0.34 GAAP) in Q4 FY11

Posts 28 Percent Year-Over-Year and 13 Percent Sequential Revenue Growth

WOBURN, Mass., Nov 03, 2011 (BUSINESS WIRE) -- --Expands Operating Margin 110
Basis Points Year-Over-Year to 27.2 Percent on a Non-GAAP Basis (19.3 Percent
GAAP)

--Generates $123 Million in Cash Flow from Operations

--Exits the Quarter with $411 Million in Cash

Skyworks Solutions, Inc. (SWKS), an innovator of high reliability analog and
mixed signal semiconductors enabling a broad range of end markets, today reported
fourth fiscal quarter and year end 2011 results. Revenue for the quarter was
$402.3 million versus guidance of $400 million, and was up 28 percent
year-over-year and 13 percent sequentially. For fiscal year 2011, revenue was
$1.419 billion versus $1.072 billion in fiscal 2010, a 32 percent increase.

On a non-GAAP basis, operating income for the fourth fiscal quarter was $109.4
million, up from $81.8 million in the prior-year period, reflecting a 34 percent
increase. Non-GAAP diluted earnings per share for the fourth fiscal quarter was
$0.54 compared to $0.43 for the same period a year ago, a 26 percent improvement.
On a GAAP basis, operating income for the fourth fiscal quarter of 2011 was $77.7
million and diluted earnings per share was $0.34.

For fiscal 2011, operating income was $384.7 million on a non-GAAP basis, up 56
percent from $246.3 million in fiscal 2010, while non-GAAP diluted earnings per
share for the year was $1.89 compared to $1.26 in fiscal 2010, a 50 percent
improvement. On a GAAP basis, operating income for fiscal 2011 was $295.3 million
and diluted earnings per share was $1.19.

"Skyworks' solid performance demonstrates the strength of our diversified
business model, continued share gains and operational leverage," said David J.
Aldrich, president and chief executive officer of Skyworks. "At a higher level,
despite the current economic environment, we believe that long-term industry
fundamentals remain strong as analog content and complexity continue to increase.
Given our differentiated product portfolio, technology leadership, broad customer
engagements and scale, Skyworks is strategically well positioned to capitalize on
the growing number of platforms that are becoming wirelessly enabled and, in
turn, to outperform our addressed markets."

Q4 Business Highlights

-- Expanded gross margin by 90 basis points year-over-year to 44.7 percent on a
non-GAAP basis (43.4 percent GAAP)

-- Improved operating margin by 110 basis points year-over-year to 27.2 percent
on a non-GAAP basis (19.3 percent GAAP)

-- Ramped 3G/LTE multimode, multiband solutions for Samsung's next generation
Galaxy S(TM) II smart phone platforms

-- Supported ZTE's launch of tablets and notebooks with EDGE and WCDMA/LTE
front-end solutions

-- Introduced a family of low noise amplifiers for wireless infrastructure and
networking applications

-- Shipped switch matrix solutions to Siemens Healthcare for deployment in their
Magnetic Resonance Imaging (MRI) scanners

-- Designed into a leading manufacturer's platform for hearing aids using ultra
low power amplifiers

-- Commenced volume shipments of ZigBee(R)-enabled solutions to multiple ODMs in
support of home security applications

First Fiscal Quarter 2012 Outlook

"We anticipate revenue in the first fiscal quarter of 2012 to be up 16 percent
year-over-year in the $390 million range," said Donald W. Palette, vice president
and chief financial officer of Skyworks. "Our guidance reflects near term market
weakness largely offset by new program ramps. Operationally, we expect to deliver
non-GAAP diluted earnings per share of $0.50. Note, our outlook excludes any
contribution from Advanced Analogic Technologies."

For further information regarding use of non-GAAP measures in this press release,
please refer to the Discussion Regarding the Use of Non-GAAP Financial Measures
set forth below.

Skyworks' Fourth Fiscal Quarter 2011 Conference Call

Skyworks will host a conference call with analysts to discuss its fourth fiscal
quarter 2011 results and business outlook today at 5:00 p.m. Eastern time. To
listen to the conference call via the Internet, please visit the investor
relations section of Skyworks' Web site. To listen to the conference call via
telephone, please call 888-312-3052 (domestic) or 719-325-2107 (international),
confirmation code: 1214860.

Playback of the conference call will begin at 9:00 p.m. Eastern time on November
3, and end at 9:00 p.m. Eastern time on November 10. The replay will be available
on Skyworks' Web site or by calling 888-203-1112 (domestic) or 719-457-0820
(international), pass code: 1214860.

About Skyworks

Skyworks Solutions, Inc. is an innovator of high reliability analog and mixed
signal semiconductors. Leveraging core technologies, Skyworks offers diverse
standard and custom linear products supporting automotive, broadband, cellular
infrastructure, energy management, industrial, medical, military and mobile
handset applications. The Company's portfolio includes amplifiers, attenuators,
circulators, detectors, diodes, directional couplers, front-end modules, hybrids,
infrastructure RF subsystems, isolators, mixers/demodulators, optocouplers,
optoisolators, phase shifters, PLLs/synthesizers/VCOs, power dividers/combiners,
receivers, switches and technical ceramics.

Headquartered in Woburn, Mass., Skyworks is worldwide with engineering,
manufacturing, sales and service facilities throughout Asia, Europe and North
America. For more information, please visit Skyworks' Web site at:
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 (including
without limitation certain projections and business trends). 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: whether, as a result of the outcome of an arbitration proceeding in
Delaware chancery court scheduled for the end of November 2011, we are required
to close the acquisition of Advanced Analogic Technologies; whether we are able
to successfully integrate Advanced Analogic Technologies' operations if we are
required to close such acquisition; uncertainty regarding global economic and
financial market conditions; the susceptibility of the wireless 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
in the United States that could adversely affect 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 and 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.

These forward-looking statements 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.

SKYWORKS SOLUTIONS, INC.
UNAUDITED CONSOLIDATED STATEMENT OF OPERATIONS
Three Months EndedYear Ended
------------------------------- -----------------------------------
Sept. 30,Oct. 1,Sept. 30,Oct. 1,
(in thousands, except per share amounts)2011201020112010
---------------- -------------- ------------------ ----------------
Net revenue$ 402,316$ 313,283$ 1,418,922$ 1,071,849
Cost of goods sold227,756177,124798,618615,016
--------------------------------
Gross profit174,560136,159620,304456,833
Operating expenses:
Research and development47,40935,409168,637134,140
Selling, general and administrative39,07133,689137,238117,853
888-2,363(1,040)
Restructuring and other charges (credits)
Amortization of intangibles9,4961,63416,7426,136
--------------------------------
Total operating expenses96,86470,732324,980257,089
Operating income77,69665,427295,324199,744
Interest expense(473)(627)(1,936)(4,246)
Loss on early retirement of convertible debt---(79)
Other income (loss), net683(45)498(345)
-------------- -------------------- --
Income before income taxes77,90664,755293,886195,074
Provision for income taxes13,69717,95167,30157,780
--------------------------------
Net income$64,209$46,804$226,585$137,294
=== ========= ========== =========== =========
Earnings per share:
Basic$0.35$0.26$1.24$0.78
Diluted$0.34$0.25$1.19$0.75
Weighted average shares:
Basic183,591177,418182,879175,020
Diluted190,786184,734190,667182,738

SKYWORKS SOLUTIONS, INC.
UNAUDITED RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
Three Months EndedYear Ended
--------------------------------- ---------------------------------
Sept. 30,Oct. 1,Sept. 30,Oct. 1,
(in thousands)2011201020112010
---------------- ---------------- ---------------- ----------------
GAAP gross profit$ 174,560$ 136,159$ 620,304$ 456,833
Share-based compensation expense [a]2,1601,1057,5573,857
Acquisition-related expense 2,955-4,572-
----------------------------
Non-GAAP gross profit$ 179,675$ 137,264$ 632,433$ 460,690
=== ========== ========== ========== =======
Non-GAAP gross margin %44.7 %43.8 %44.6 %43.0 %
Three Months EndedYear Ended
--------------------------------- ---------------------------------
Sept. 30,Oct. 1,Sept. 30,Oct. 1,
(in thousands)2011201020112010
---------------- ---------------- ---------------- ----------------
GAAP operating income$77,696$65,427$ 295,324$ 199,744
Share-based compensation expense [a]15,65014,50358,33840,742
Acquisition-related expense 5,509-9,014-
Litigation settlement gains and losses [c]--2,300-
Amortization of intangible assets9,4961,63416,7426,136
Restructuring & other charges (credits) [d]888-2,363(1,040)
Deferred executive compensation143233594752
Non-GAAP operating income$ 109,382$81,797$ 384,675$ 246,334
=== ========== ========== ========== =======
Non-GAAP operating margin %27.2 %26.1 %27.1 %23.0 %
Three Months EndedYear Ended
--------------------------------- ---------------------------------
Sept. 30,Oct. 1,Sept. 30,Oct. 1,
(in thousands)2011201020112010
---------------- ---------------- ---------------- ----------------
GAAP net income$64,209$46,804$ 226,585$ 137,294
Share-based compensation expense [a]15,65014,50358,33840,742
Acquisition-related expense 5,509-9,014-
Litigation settlement gains and losses [c]--2,300-
Amortization of intangible assets9,4961,63416,7426,136
Restructuring & other charges (credits) [d]888-2,363(1,040)
Deferred executive compensation143233594752
Loss on early retirement of convertible debt [e]---79
Amortization of discount on convertible debt [f]3453221,3452,502
Tax adjustments [g]7,58115,28743,00442,982
----------------------------
Non-GAAP net income$ 103,821$78,783$ 360,285$ 229,447
=== ========== ========== ========== =======
Three Months EndedYear Ended
--------------------------------- ---------------------------------
Sept. 30,Oct. 1,Sept. 30,Oct. 1,
2011201020112010
---------------- ---------------- ---------------- ----------------
GAAP net income per share, diluted$0.34$0.25$1.19$0.75
Share-based compensation expense [a]0.080.080.310.22
Acquisition-related expense 0.03-0.05-
Litigation settlement gains and losses [c]--0.01-
Amortization of intangible assets0.050.010.090.04
Restructuring & other charges (credits) [d]--0.01-
Amortization of discount on convertible debt [f]---0.01
Tax adjustments [g]0.040.090.230.24
----------------------------
Non-GAAP net income per share, diluted$0.54$0.43$1.89$1.26
=== ========== ========== ========== =======

SKYWORKS SOLUTIONS, INC. DISCUSSION REGARDING THE USE OF NON-GAAP FINANCIAL
MEASURES

Our earnings release contains some or all of the following financial measures
which have not been calculated in accordance with United States Generally
Accepted Accounting Principles (GAAP): (i) non-GAAP gross profit and gross
margin, (ii) non-GAAP operating income and operating margin, (iii) non-GAAP net
income, and (iv) non-GAAP net income per share (diluted). As set forth in the
"Unaudited Reconciliation of Non-GAAP Financial Measures" table found above, we
derive such non-GAAP financial measures by excluding certain expenses and other
items from the respective GAAP financial measure that is most directly comparable
to each non-GAAP financial measure. Management uses these non-GAAP financial
measures to evaluate our operating performance and compare it against past
periods, make operating decisions, forecast for future periods, compare operating
performance against peer companies and determine payments under certain
compensation programs. These non-GAAP financial measures provide management with
additional means to understand and evaluate the operating results and trends in
our ongoing business by eliminating certain non-recurring expenses (which may not
occur in each period presented) and other items that management believes might
otherwise make comparisons of our ongoing business with prior periods and
competitors more difficult, obscure trends in ongoing operations or reduce
management's ability to make useful forecasts.

We provide investors with non-GAAP gross profit and gross margin, non-GAAP
operating income and operating margin and non-GAAP net income because we believe
it is important for investors to be able to closely monitor and understand
changes in our ability to generate income from ongoing business operations. We
believe these non-GAAP financial measures give investors an additional method to
evaluate historical operating performance and identify trends, additional means
of evaluating period-over-period operating performance and a method to facilitate
certain comparisons of operating results to peer companies. We also believe that
providing non-GAAP operating income and operating margin allows investors to
assess the extent to which ongoing operations impact our overall financial
performance. We further believe that providing non-GAAP net income and non-GAAP
net income per share (diluted) allows investors to assess the overall financial
performance of ongoing operations by eliminating the impact of certain financing
decisions related to our convertible debt and certain tax items which may not
occur in each period for which financial information is presented and which
represent gains or losses unrelated to our ongoing operations. We believe that
disclosing these non-GAAP financial measures contributes to enhanced financial
reporting transparency and provides investors with added clarity about complex
financial performance measures.

We calculate non-GAAP gross profit by excluding from GAAP gross profit, stock
compensation expense, restructuring-related charges and acquisition-related
expenses. We calculate non-GAAP operating income by excluding from GAAP operating
income, stock compensation expense, restructuring-related charges,
acquisition-related expenses, litigation settlement gains and losses and certain
deferred executive compensation. We calculate non-GAAP net income and net income
per share (diluted) by excluding from GAAP net income and net income per share
(diluted), stock compensation expense, restructuring-related charges,
acquisition-related expenses, litigation settlement gains and losses,
amortization of discount on convertible debt, and certain deferred executive
compensation, as well as certain items related to the retirement of convertible
debt, and certain tax items, which may not occur in all periods for which
financial information is presented. We exclude the items identified above from
the respective non-GAAP financial measure referenced above for the reasons set
forth with respect to each such excluded item below:

Stock Compensation - because (1) the total amount of expense is partially outside
of our control because it is based on factors such as stock price volatility and
interest rates, which may be unrelated to our performance during the period in
which the expense is incurred, (2) it is an expense based upon a valuation
methodology premised on assumptions that vary over time, and (3) the amount of
the expense can vary significantly between companies due to factors that can be
outside of the control of such companies.

Acquisition-Related Expenses - including such items as, when applicable,
amortization of acquired intangible assets, fair value adjustments to contingent
consideration, fair value charges incurred upon the sale of acquired inventory,
acquisition-related professional fees and deemed compensation expenses, because
they are not considered by management in making operating decisions and we
believe that such expenses do not have a direct correlation to future business
operations and thereby including such charges does not accurately reflect the
performance of our ongoing operations for the period in which such charges are
incurred.

Litigation Settlement Gains and Losses - including gains and losses related to
the resolution of other than ordinary course threatened and actually filed
lawsuits and other than ordinary course contractual disputes, because (1) they
are not considered by management in making operating decisions, (2) such gains
and losses tend to be infrequent in nature, (3) such gains and losses are
generally not directly controlled by management, (4) we believe such gains and
losses do not necessarily reflect the performance of our ongoing operations for
the period in which such charges are recognized and (5) the amount of such gains
or losses can vary significantly between companies and make comparisons
difficult.

Restructuring-Related Charges - because, to the extent such charges impact a
period presented, we believe that they have no direct correlation to future
business operations and including such charges does not necessarily reflect the
performance of our ongoing operations for the period in which such charges are
incurred.

Deferred Executive Compensation - including charges related to any contingent
obligation pursuant to an executive severance agreement because we believe the
period over which the obligation is amortized may not reflect the period of
benefit and that such expense has no direct correlation with our recurring
business operations and including such expenses does not accurately reflect the
compensation expense for the period in which incurred.

Amortization of Discount on Convertible Debt - comprised of the amortization of
the debt discount recorded at inception of the convertible debt borrowing related
to the adoption of ASC 470-20, because the expense is dependent on fair value
assessments and is not considered by management when making operating decisions.

Gains and Losses on Retirement of Convertible Debt - because, to the extent that
gains or losses from such repurchases impact a period presented, we do not
believe that they reflect the underlying performance of ongoing business
operations for such period.

Certain Income Tax Items - including certain deferred tax charges and benefits
which do not result in a current tax payment or tax refund and other adjustments
which are not indicative of ongoing business operations.

The non-GAAP financial measures presented in the table above should not be
considered in isolation and are not an alternative for, the respective GAAP
financial measure that is most directly comparable to each such non-GAAP
financial measure. Investors are cautioned against placing undue reliance on
these non-GAAP financial measures and are urged to review and consider carefully
the adjustments made by management to the most directly comparable GAAP financial
measures to arrive at these non-GAAP financial measures. Non-GAAP financial
measures may have limited value as analytical tools because they may exclude
certain expenses that some investors consider important in evaluating operating
performance or ongoing business. Further, non-GAAP financial measures are likely
to have limited value for purposes of drawing comparisons between companies
because different companies may calculate similarly titled non-GAAP financial
measures in different ways because non-GAAP measures are not based on any
comprehensive set of accounting rules or principles.

Our earnings release contains a forward looking estimate of non-GAAP diluted
earnings per share for the first quarter of our 2012 fiscal year ("Q1 2012"). We
provide this non-GAAP measure to investors on a prospective basis for the same
reasons (set forth above) that we provide them to investors on a historical
basis. We are unable to provide a reconciliation of our forward looking estimate
of Q1 2012 non-GAAP diluted earnings per share to a forward looking estimate of
Q1 2012 GAAP diluted earnings per share because certain information needed to
make a reasonable forward looking estimate of GAAP diluted earnings per share for
Q1 2012 (other than estimated stock compensation expense of $0.09 per diluted
share, certain tax items of $0.06 per diluted share, estimated acquisition
related expense of $0.04 per diluted share and estimated deferred executive
compensation expense and restructuring and other charges with a de minimis impact
per diluted share) is difficult to predict and estimate and is often dependent on
future events which may be uncertain or outside of our control. Such events may
include unanticipated gains and losses on retirement of convertible debt,
unanticipated one time charges related to asset impairments (fixed assets,
intangibles or goodwill), unanticipated acquisition related costs, unanticipated
litigation settlement gains and losses and other unanticipated non-recurring
items not reflective of ongoing operations. We believe the probable significance
of these unknown items, in aggregate, to be in the range of $0.00 to $0.05 in
quarterly earnings per diluted share on a GAAP basis. Our forward looking
estimates of both GAAP and non-GAAP measures of our financial performance may
differ materially from our actual results and should not be relied upon as
statements of fact.
[a] These charges represent expense recognized in accordance with ASC
718 - Compensation, Stock Compensation.
Approximately $2.2 million, $5.0 million and $8.4 million were
included in cost of goods sold, research and development expense
and selling, general and administrative expense, respectively, for
the three months ended September 30, 2011.
Approximately $7.6 million, $18.1 million and $32.6 million were
included in cost of goods sold, research and development expense
and selling, general and administrative expense, respectively, for
the fiscal year ended September 30, 2011.
For the three months ended October 1, 2010, approximately $1.1
million, $1.9 million and $11.5 million were included in costs of
goods sold, research and development expense and selling, general
and administrative expense, respectively.
For the fiscal year ended October 1, 2010, approximately $3.9
million, $7.4 million and $29.4 million were included in costs of
goods sold, research and development expense and selling, general
and administrative expense, respectively.
The acquisition-related expense recognized during the three months
and fiscal year ended September 30, 2011 includes a $2.9 million
and $4.6 million charge, respectively, to cost of sales related to
the sale of acquired inventory. Also included in
acquisition-related expense is $2.6 million and $4.4 million,
respectively, in transaction costs associated with acquisitions
completed or contemplated during the three months and fiscal year
ended September 30, 2011.
[c] During the fiscal year ended September 30, 2011, the Company
recognized a $2.3 million charge related to the resolution of a
contractual dispute.
[d] During the fiscal year ended September 30, 2011, the Company
implemented a restructuring plan to reduce the headcount
associated with its acquisition of SiGe Semiconductor, Inc.
Approximately $0.9 million and $2.4 million in restructuring
related charges were recorded during the three months and fiscal
year ended September 30, 2011, respectively.
For the fiscal year ended October 1, 2010, the Company recorded a
$1.0 million credit to restructuring and other charges related to
the sale of an impaired long-lived asset.
[e] The net loss recorded during the fiscal year ended October 1, 2010
relates to a loss on the retirement of $32.6 million of the
Company's 1.25% convertible subordinated notes due on March 1,
2010 offset by a gain on the retirement of $20.4 million of the
Company's 1.50% convertible subordinated notes due on March 1,
2012.
[f] These charges represent the amortization expense recognized in
accordance with ASC 470-20. Approximately $0.3 million and $1.3
million, respectively, of amortization expense was recognized
during the three months and fiscal year ended September 30, 2011.
Approximately $0.3 million and $2.5 million, respectively, of
amortization expense was recognized during the three months and
fiscal year ended October 1, 2010.
[g] During the three months and fiscal year ended September 30, 2011,
these amounts primarily represent deferred tax expense not
affecting taxes payable and non-cash expense related to uncertain
tax positions.
During the three months and fiscal year ended October 1, 2010,
these amounts primarily represent the utilization of net operating
loss and research and development credit carryforwards.

SKYWORKS SOLUTIONS, INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET
Sept. 30,Oct. 1,
(in thousands)20112010
----------------- -----------------
Assets
Current assets:
Cash and cash equivalents$410,799$459,385
Accounts receivable, net177,940175,232
Inventories198,183125,059
Prepaid expenses and other current assets29,41230,189
Property, plant and equipment, net251,365204,363
Goodwill and intangible assets, net749,849498,096
Other assets72,84171,728
------------------
Total assets$ 1,890,389$ 1,564,052
====== =============== =========
Liabilities and Equity
Current liabilities:
Credit facility$-$50,000
Convertible notes26,089-
Accounts payable115,290111,967
Accrued liabilities and other current liabilities105,71742,357
Long-term debt-24,743
Other long-term liabilities34,19818,389
Stockholders' equity1,609,0951,316,596
------------------
Total liabilities and equity$ 1,890,389$ 1,564,052
====== =============== =========

SOURCE: Skyworks Solutions, Inc.

Skyworks Solutions, Inc.
Media Relations:
Pilar Barrigas, 949-231-3061
Investor Relations:
Stephen Ferranti, 781-376-3056

Share RecommendKeepReplyMark as Last Read


From: Savant12/12/2011 9:48:07 AM
   of 1698
 
Skyworks Opens Design Center in Korea

Facility to Support Growing Demand for 3G and 4G Front-End Solutions

WOBURN, Mass., Dec 12, 2011 (BUSINESS WIRE) -- Skyworks Solutions, Inc. (SWKS),
an innovator of high reliability analog and mixed signal semiconductors enabling
a broad range of end markets, today announced that it has opened a design center
in Korea to support the Company's increasing demand for 3G and 4G front-end
solutions. In fiscal 2011, Skyworks grew its 3G front-end module shipments by
more than 150 percent year-over-year. The site will support integrated circuit
and multi-chip-module designs and layouts, RF-laboratory work, and customer
support through early manufacturing.

"Skyworks is delighted to be placing more of our highly-skilled engineering teams
closer to our customers," said Gregory L. Waters, executive vice president and
general manager, front-end solutions at Skyworks. "We realize that our customers'
success depends upon the performance and reliability of our products, and the
strength of our service. We are committed to meeting the market's need for the
smallest and highest performance device architectures, as well as strengthening
our local support for leading smart phone providers and handset manufacturers."

Global adoption of 3G and 4G devices, including smart phones, tablets and a
seemingly unending array of new applications, continues to be robust. The
proliferation of embedded wireless functionality is driving a tremendous increase
in RF content and the number of connected devices. In fact, the GSMA recently
released research which suggests that the number of mobile connected devices is
expected to reach 12 billion units by 2020, twice the number in service today.

About Skyworks

Skyworks Solutions, Inc. is an innovator of high reliability analog and mixed
signal semiconductors. Leveraging core technologies, Skyworks offers diverse
standard and custom linear products supporting automotive, broadband, cellular
infrastructure, energy management, industrial, medical, military and mobile
handset applications. The Company's portfolio includes amplifiers, attenuators,
detectors, diodes, directional couplers, front-end modules, hybrids,
infrastructure RF subsystems, mixers/demodulators, optocouplers, optoisolators,
phase shifters, PLLs/synthesizers/VCOs, power dividers/combiners, receivers,
switches and technical ceramics.

Headquartered in Woburn, Mass., Skyworks is worldwide with engineering,
manufacturing, sales and service facilities throughout Asia, Europe and North
America. For more information, please visit Skyworks' Web site at:
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 and
AnalogicTech (including without limitation certain projections and business
trends). 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 Skyworks' and AnalogicTech's
respective future operating results, financial position and cash flows.

Actual results and events in future periods may differ materially from those
expressed or implied by these forward-looking statements because of a number of
risks, uncertainties and other factors. All statements other than statements of
historical fact are statements that could be deemed forward-looking statements,
including the expected benefits and costs of the transaction; management plans
relating to the transaction; the expected timing of the completion of the
transaction; the ability to complete the transaction; any statements of the
plans, strategies and objectives of management for future operations, including
the execution of integration plans; any statements of expectation or belief; and
any statements of assumptions underlying any of the foregoing. Risks,
uncertainties and assumptions include the possibility that expected benefits may
not materialize as expected; that the transaction may not be timely completed, if
at all; that, prior to the completion of the transaction, AnalogicTech's business
may experience disruptions due to transaction-related uncertainty or other
factors making it more difficult to maintain relationships with employees,
customers or other business partners; that the parties are unable to successfully
implement integration strategies; and other risks that are described in Skyworks'
and AnalogicTech's respective SEC reports, including but not limited to the risks
described in Skyworks' Annual Report on Form 10-K, as amended, for its fiscal
year ended September 30, 2011 and AnalogicTech's Annual Report on Form 10-K, as
amended, for the fiscal year ended December 31, 2010, as well as subsequent
Quarterly Reports on Form 10-Q.

These forward-looking statements 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.

Additional Information about the Transaction and Where to Find It

Skyworks will file a Tender Offer Statement on Schedule TO and AATI will file a
Solicitation/Recommendation Statement on Schedule 14D-9 with the Securities and
Exchange Commission ("SEC") in connection with the amended merger agreement and
tender offer. Security holders are advised to read the Tender Offer Statement and
the Solicitation/Recommendation Statement when they are available because they
will contain important information. Investors can obtain the Tender Offer
Statement when it is filed by Skyworks, the Solicitation/Recommendation Statement
when it is filed by AATI, and other documents filed by Skyworks and/or AATI for
free at the web site of the U.S. Securities and Exchange Commission at
sec.gov. In addition, investors and security holders can obtain free
copies of the documents filed by Skyworks with the SEC from Skyworks by
contacting Skyworks' Investor Relations at (949) 231-4700 or by accessing
Skyworks' investor relations website at skyworksinc.com, and free
copies of the documents filed by AATI with the SEC from AATI by contacting AATI's
Investor Relations at The Blueshirt Group, Lisa Laukkanen, at (415) 217-4967 or
by accessing Advanced Analogic Technologies' investor relations website at
analogictech.com.

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.

SOURCE: Skyworks Solutions, Inc.

Skyworks Media Relations
Pilar Barrigas, 949-231-3061
or
Skyworks Investor Relations
Stephen Ferranti, 781-376-3056

Share RecommendKeepReplyMark as Last Read


From: Savant4/9/2012 10:13:55 AM
   of 1698
 
Skyworks Sets Date for Second Quarter Fiscal 2012 Earnings Release and Conference
Call

April 26 at 5:00 p.m. Eastern Time

WOBURN, Mass., Apr 09, 2012 (BUSINESS WIRE) -- Skyworks Solutions, Inc. (SWKS),
an innovator of high reliability analog and mixed signal semiconductors enabling
a broad range of end markets, will conduct a conference call with analysts to
discuss its second quarter fiscal 2012 results and business outlook on April 26
at 5:00 p.m. Eastern time.

After the close of the market on April 26, and prior to the conference call,
Skyworks will issue a copy of the earnings press release via Business Wire. The
press release may also be viewed on Skyworks' Web site at
skyworksinc.com.

To listen to the conference call via the Internet, please visit the investor
relations section of Skyworks' Web site. To listen to the conference call via
telephone, please call 877-857-6144 (domestic) or 719-325-4819 (international),
confirmation code: 7714870.

Playback of the conference call will begin at 9:00 p.m. Eastern time on April 26,
and end at 9:00 p.m. Eastern time on May 3. The replay will be available on
Skyworks' Web site or by calling 888-203-1112 (domestic) or 719-457-0820
(international), pass code: 7714870.

About Skyworks

Skyworks Solutions, Inc. is an innovator of high reliability analog
semiconductors. Leveraging core technologies, Skyworks offers diverse standard
and custom linear products supporting automotive, broadband, cellular
infrastructure, energy management, industrial, medical, military, networking,
smartphone and tablet applications. The Company's portfolio includes amplifiers,
attenuators, circulators, detectors, diodes, directional couplers, front-end
modules, hybrids, infrastructure RF subsystems, isolators, lighting and display
solutions, mixers/demodulators, optocouplers, optoisolators, phase shifters,
PLLs/synthesizers/VCOs, power dividers/combiners, power management devices,
receivers, switches and technical ceramics.

Headquartered in Woburn, Mass., Skyworks is worldwide with engineering,
manufacturing, sales and service facilities throughout Asia, Europe and North
America. For more information, please visit Skyworks' Web site at:
skyworksinc.com

Safe Harbor Statement

Share RecommendKeepReplyMark as Last Read


From: Savant4/20/2012 10:52:58 PM
   of 1698
 
Skyworks Sets Date for Second Quarter Fiscal 2012 Earnings Release and Conference
Call

April 26 at 5:00 p.m. Eastern Time

WOBURN, Mass., Apr 09, 2012 (BUSINESS WIRE) -- Skyworks Solutions, Inc. (SWKS),
an innovator of high reliability analog and mixed signal semiconductors enabling
a broad range of end markets, will conduct a conference call with analysts to
discuss its second quarter fiscal 2012 results and business outlook on April 26
at 5:00 p.m. Eastern time.

After the close of the market on April 26, and prior to the conference call,
Skyworks will issue a copy of the earnings press release via Business Wire. The
press release may also be viewed on Skyworks' Web site at
skyworksinc.com.

To listen to the conference call via the Internet, please visit the investor
relations section of Skyworks' Web site. To listen to the conference call via
telephone, please call 877-857-6144 (domestic) or 719-325-4819 (international),
confirmation code: 7714870.

Playback of the conference call will begin at 9:00 p.m. Eastern time on April 26,
and end at 9:00 p.m. Eastern time on May 3. The replay will be available on
Skyworks' Web site or by calling 888-203-1112 (domestic) or 719-457-0820
(international), pass code: 7714870.

About Skyworks

Skyworks Solutions, Inc. is an innovator of high reliability analog
semiconductors. Leveraging core technologies, Skyworks offers diverse standard
and custom linear products supporting automotive, broadband, cellular
infrastructure, energy management, industrial, medical, military, networking,
smartphone and tablet applications. The Company's portfolio includes amplifiers,
attenuators, circulators, detectors, diodes, directional couplers, front-end
modules, hybrids, infrastructure RF subsystems, isolators, lighting and display
solutions, mixers/demodulators, optocouplers, optoisolators, phase shifters,
PLLs/synthesizers/VCOs, power dividers/combiners, power management devices,
receivers, switches and technical ceramics.

Headquartered in Woburn, Mass., Skyworks is worldwide with engineering,
manufacturing, sales and service facilities throughout Asia, Europe and North
America. For more information, please visit Skyworks' Web site at:
skyworksinc.com

Safe Harbor Statement

Share RecommendKeepReplyMark as Last Read


From: Savant5/25/2012 12:45:47 PM
   of 1698
 
Skyworks Sets Analyst Meeting Date

September 20, 2012 from 9:00 a.m. -- 1:00 p.m. Eastern Time at Fenway Park

WOBURN, Mass., May 24, 2012 (BUSINESS WIRE) -- Skyworks Solutions, Inc. (SWKS),
an innovator of high reliability analog semiconductors enabling a broad range of
end markets, today announced that it will host an Analyst Day on September 20,
2012 at Fenway Park in Boston from 9:00 a.m. -- 1:00 p.m. Eastern time. Members
of the executive team will provide a business overview, discuss market and
technology trends, operational plans and financial objectives.

To listen to the Webcast via the Internet, please visit the Investor section on
Skyworks' Web site at: skyworksinc.com.

About Skyworks

Skyworks Solutions, Inc. is an innovator of high reliability analog
semiconductors. Leveraging core technologies, Skyworks offers high performance
analog products supporting automotive, broadband, cellular infrastructure, energy
management, industrial, medical, military, wireless networking, smartphone and
tablet applications. The Company's portfolio includes amplifiers, attenuators,
circulators, detectors, diodes, directional couplers, front-end modules, hybrids,
infrastructure RF subsystems, isolators, lighting and display solutions,
mixers/demodulators, optocouplers, optoisolators, phase shifters,
PLLs/synthesizers/VCOs, power dividers/combiners, power management devices,
receivers, switches and technical ceramics.

Headquartered in Woburn, Mass., Skyworks is worldwide with engineering,
manufacturing, sales and service facilities throughout Asia, Europe and North
America. For more information, please visit Skyworks' Web site at:
skyworksinc.com.

Share RecommendKeepReplyMark as Last Read


From: Savant6/26/2012 10:19:06 AM
   of 1698
 
Skyworks Unveils Revolutionary Front-end Solution

SkyOne(TM) Incorporates All Popular 2G, 3G and 4G Bands as well as Switches and
Filters for an Unprecedented Level of Integration and Carrier Coverage

WOBURN, Mass., Jun 26, 2012 (BUSINESS WIRE) -- Skyworks Solutions, Inc. (SWKS),
an innovator of high reliability analog semiconductors enabling a broad range of
end markets, today announced that it has launched a breakthrough front-end system
that integrates all RF and analog content between the transceiver and antenna for
simplified design within demanding next generation mobile platforms. Leveraging
Skyworks' silicon integration expertise, advanced manufacturing technologies and
proprietary techniques, SkyOne(TM) is the world's first semiconductor device to
condense multiband power amplifiers and high throw switches along with all
associated filtering, duplexing and control functionality into a single,
ultra-compact package---all in less than half the area of the industry's most
advanced approach. At the same time, this groundbreaking solution provides the
world's best linearity and power added efficiency (PAE) for smart RF integration.
As a result, SkyOne(TM) offers smartphone, tablet and ultrabook OEMs significant
board space savings, ease of implementation, performance and time to market
advantages.

Even as radio content and complexity continue to rise, consumers are demanding
increasingly thinner and lighter mobile platforms with increased talk/data access
time. To meet this challenge, SkyOne(TM) optimizes performance beyond what is
possible with less integrated devices and incorporates all popular 2G, 3G and
4G/LTE protocols enabling seamless global network roaming and extended battery
life.

"With the introduction of the SkyOne(TM) platform, Skyworks is redefining mobile
communications technology," said Gregory L. Waters, executive vice president and
general manager of front-end solutions at Skyworks. "Our breakthrough
architecture is the culmination of extensive research and development that
leverages Skyworks' product depth, intellectual property scale and system-level
expertise. As OEMs focus on industrial design, application development and
marketing, they are increasingly turning to Skyworks to deliver a complete,
drop-in front-end solution that optimizes each band and imposes no additional
requirements to match components. SkyOne(TM) uniquely answers our customers'
design, implementation and time to market needs by ensuring that all RF and
analog functionality works in concert."

About Skyworks' Family of SkyOne(TM) Front-End Solutions

Skyworks' SkyOne(TM) family of FEMs integrate the following in a single package:

-- 2G / 3G / 4G power amplifiers

-- Support for bands 1, 2, 3, 4, 5, 7, 8, 13, 17 and 20

-- Quad band GSM/EDGE power amplifiers and filters

-- All associated duplexer functionality

-- Integrated CMOS switches and control functions

-- DCS/PCS Rx filters

SkyOne(TM) enhances the carrier connectivity experience independent of operator
or region. Future devices will leverage the best of new process, circuit design
and advanced interconnect technology to create further disruptive improvements in
size, performance and band integration.

Pricing and Availability

To sample Skyworks' SkyOne FEM or request more information, please contact
sales@skyworksinc.com.

About Skyworks

Skyworks Solutions, Inc. is an innovator of high reliability analog
semiconductors. Leveraging core technologies, Skyworks offers high performance
analog products supporting automotive, broadband, cellular infrastructure, energy
management, industrial, medical, military, wireless networking, smartphone and
tablet applications. The Company's portfolio includes amplifiers, attenuators,
circulators, detectors, diodes, directional couplers, front-end modules, hybrids,
infrastructure RF subsystems, isolators, lighting and display solutions,
mixers/demodulators, optocouplers, optoisolators, phase shifters,
PLLs/synthesizers/VCOs, power dividers/combiners, power management devices,
receivers, switches and technical ceramics.

Headquartered in Woburn, Mass., Skyworks is worldwide with engineering,
manufacturing, sales and service facilities throughout Asia, Europe and North
America. For more information, please visit Skyworks' Web site at:
skyworksinc.com.

Share RecommendKeepReplyMark as Last ReadRead Replies (1)
Previous 10 Next 10