SWKS - Earnings call transcript Q4 2021 | Skyworks Solutions, Inc.

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Operator

Good afternoon and welcome to Skyworks Solutions Fourth Quarter and Fiscal Year 2021 Earnings Call. This call is being recorded. At this time, I will turn the call over to Mitch Haws, Investor Relations for Skyworks. Mr. Haws, please go ahead.

Mitch Haws

Rachel. you, Thank and year-end everyone Skyworks' fiscal fourth Good conference welcome call. and XXXX quarter afternoon to With are Officer. and Kris me and Sennesael, CEO today our Liam Griffin, Chief Financial Chairman, our President,

remind Before I earnings include relating statements. or outcomes future we to press Form recent Please are our that and that XX-K considered would to including made statements report differ expectations actual begin, results maybe discussion for everyone like refer could will that on forward-looking our filings, our statements release SEC adversely on and and risks information certain cause forward-looking from to to materially annual any today.

release and company With measures, we past to that, refer complete our for within the discuss include call Liam. Relations press a GAAP. Please guidance section of the consistent results website reconciliation Investor our with I'll non-GAAP financial to practice. the Additionally, our turn will to

Liam Griffin

everyone. Mitch. welcome Thanks, And

to I touch significant the quarter underpin fourth accomplishments fiscal Before I on record year for highlight that Skyworks. the a breaking want results,

market First, grew our $X.X of immediately cash last and diversifying increase expanded Operating an We up portfolio billion, revenue $X.X $X.X acquisition, increase of expanding $XX.XX, and we ahead reach. an And completed XX% to a billion. to representing earnings over year, increased flow of XX%. XX%. compelling per billion, share total strategic our product

leveraging world capabilities investments the complex manufacturing made, chain Skyworks class with we've environment, strategic a Finally, technology. navigated across supply

momentum for connectivity we capitalized markets Now and as rates both broad double-digit turning in based grew sequentially performance. Revenues our mobile to where portfolios solutions. fueled and our broad record QX Skyworks demand delivered year-over-year unique by on at

by The of performance. driving earnings achieved expanding more inherent the XG revenue operating $X.XX of subscription $XXX were and of to integrated operating of We flow, the strong momentum guidance is $X.XX, totaling major $X.XX than The carrier catalysts million estimates users per posted and we building, XX.X%. today, our demand solutions margin billion highly cash quarter. for exceeding and users gross our XG with by in complexity in XXXX. X of in did generated in Specifically, billion, XX% share global million of margin end XXX

are transition. reality, But new and smartphones industrial the emerging cases to and virtual leading from expected, are As telemedicine. use early IoT innovative enhanced gaming automotive

increasingly Importantly, ecosystems, being powered providing optimization. sustainability is harnessed across drive and analysis the combining efforts of power industries wireless to XG backbone to measurement a worldwide, AI

XX%. to startup wireless to major times. in is three wireless usage chemical For by a US to reduce artificial example, manufacturer And is combining European up crop yields intelligence agricultural a cameras deploying drive applications, sensor-enabled with sensors climate

as to Looking floor with use as leadership. in and connectivity encompassing transformation set The XG Skyworks ahead, QX from newest, smartphones farm. to XG factory acceleration of becomes of well the connections uniquely is to broad decades connector across IoT the wins it design capacity wireless infrastructure. cases this home, manage the in diverse the innovative devices, gains with has as the the office, industries to to most powered and positioned the universal on capitalize of

platforms. Specifically, tier mobile, leading supporting X at smartphone of accelerated latest the our than launches more in SkyX portfolio, the powering we XX OEMs, reach

tier connectivity NETGEAR with X wins X We security to residential Wi-Fi Cisco. We In Swisscom at with platforms Wi-Fi and Ring And captured devices connectivity XE addition, Garmin home Launched new their we in EV, installations. we gain base we and Comcast. wins energy And multiple including of advanced and storage gateway. charge GPON X In design strategic a European launch leading in Amazon shipped solar design and and isolation continue and solutions Galaxy's for a provide market with IoT, manufacturer systems. customers ramped applications. SkyX robo at cell supporting CPE markets, a Across And enabled unit Nokia. and to delivered systems taxi secured station solutions we driving partnered platform small residential OEM. power automotive, XG next We across we fitness to tablet automotive solutions content. portfolio. Samsung in the generation the infrastructure mobile MIMO expand systems supported autonomous to control

evolution technological our of XG, we GPS. but multiyear capabilities. see ahead, widening increasingly IoT Integrating unique expansive fueling automotive not critical set Bluetooth our devices. protocols, performance Wi-Fi, a from dramatic including smartphones high aperture Skyworks precision Moving and technology connectivity and shift secondary with with industrial, to is only with other our this

positioned these across the Skyworks experience and XX multiple dedicated breadth customer to call emerge, that executed well a and technology extraordinarily relationships XXXX. turn workforce will our of depth As talented and over fiscal With is years, transitions, during over our the opportunities that, to with win, I Kris. established

Kris Sennesael

up our XX% both of income, in revenue, strategic million margin support of sequentially by $XX and markets. basis million an million driven Liam. in X%, XX%, $XXX fourth sequentially incurred translating fourth future $XXX and XX% points of was We up points driving gross XXXX up generated was for was Thanks, other resulting leverage tax of Skyworks in mobile XX million, margin million. revenue rate And and billion, $XXX fiscal growth. XX.X%. operating into while of operating Operating the a broad income Gross $XXX were XX.X% in or our of $X.XXX profit our expenses year-over-year, effective year-over-year. investments net operating We expenses. basis the of quarter solutions quarter demonstrating model, of XX continuing

ahead margins QX top sequentially of XX% increased and share consensus and earnings per diluted of of estimates. compared EPS on momentum $X.XX, year. to execution XX% grew drove So, last line

cash quarter $XXX million. million Turning to dividends million $XXX flow. in our $XXX term and we and and Capital flow paid million balance the sheet operations from was expenditures cash fiscal of repaid loan. were Fourth $XX

incremental fiscal margin XXXX. fiscal of year. was billion, Revenue XX.X%. margin gross Gross earnings year billion a performance. $X.X adding diluted full grew points of record into revenue XX% Operating XX.X%, XX% billion over Net billion, record XXX translating breaking all-time profit $XX.XX $X.X prior resulting of $X.X our in operating up to an $X.X was review also to basis Let's income in the billion, income increased $X from from million over during fiscal and infrastructure XXXX, in buybacks Labs. per Starting $XXX XX% acquisition And the into our $XXX the in with share, dividends business temporarily all the up with million connection operations year-over-year. $X.X suspended fiscal QX to XXXX. of returned we program billion. from we during XXX back share Cash XX% up in of repurchase shareholders, to fiscal million and flow share XXXX, Silicon of cash was automotive with

in growth. executed that and addition and well, conditions acquisition, drive our and leadership and strength our to time, consider repayments. further strategy, and on of revenue, exceptionally share delivering the made Given part business of to turn, given advance of to depending progress the loan summary, our manufacturing ratio in than making profitability Skyworks on and program steam term leverage our cash low profitable as going forward, from X integrating repurchases we record In the the capital less investments market the have long-term order technology footprint we time while the dividend will, generation, allocation

to Now, let's QX of on move for fiscal outlook our XXXX.

December double-digit growth in revenue We and earnings sequential per another quarter. share of expect the to deliver quarter

we billion. the XX.X%. the billion, XX% to to margin revenue of of revenue in quarter $X.XXX XX% to be expected is and Specifically, At sequentially. $X.XXX is billion midpoint increase anticipate Gross $X.X between range projected for the

expense to $XXX $XXX million We of expenses roughly expect a and anticipate approximately we line, million. in approximately other of million X.X%. operating below rate the tax And $XX

to our diluted shares. we an earnings revenue at be increase per We to deliver XX% And Liam. the back diluted call that, XXX.X the approximately share of I'll share Accordingly, of midpoint expect the of intend sequentially. count turn to with range, million $X.XX, over

Liam Griffin

our Kris. demand ability Skyworks' performance demonstrates of customers capture markets. record robust Thanks, diverse set to and a end across financial

coupled been execution square deep execution and relationships, investments, a by best-in-class decades with Our performance. of on focus powered and with has customer fortified

capital connectivity our positioning remarks. to let's next for Looking to accelerates. for the will leadership other concludes invest technologies open as technologies sustainable in us prepared questions. market and and transition Operator, XG and expansion, line ahead, continue the advanced growth That Skyworks generation strategically

Operator

Instructions]. [Operator

question line first from Mobley securities. Gary from Wells of Fargo Your comes the

Gary Mobley

out the quarter I for just mobile about asking in that start simply by revenue want to markets guidance. is narrowing and the embedded your mix broad between

Kris Sennesael

broad can markets of I'll that was Liam start September closed, XX% with and that qualitative some I'll the and provide quarter some approximately numbers In just we QX, revenue. total commentary. then provide more

growing up on So, basis, a to broad on a $X.X that billion a year-over-year revenue, XX% out markets in over was sequentially. I basically was XX% basis full-year on want basis. XX% year-over-year at just point and Also,

broad markets our in So very performance strong business.

flip XX% had QX XX% our XX% up and year-over-year On was in of the of course, we sequentially. side, up revenue, mobile

So, supported broad we approximately something really ramp phone want on a basis. in the a basis, of of just $X.X adoption platforms maybe, at mobile, strong supported Liam, if year year-over-year On And of Clearly execution add our of largest by the billion full early customer. up markets. did XX% we to as on there, revenue, you course, new XG.

Liam Griffin

the to customer and Kris' Names catalyze customers, space with infrastructure plays Honeywell, looking we And reiterate moving new Nokia like continues others. from better The into see market gaining some grow the Ford, portfolio, to content, stronger. there. room we continue our plenty in get comments, To that to like broad names gaining roster and at of of industries.

good in broad markets. So, work

top we've noted, We're that. Kris line. As continue got some to going to substantial drive

but in mobile. driving are broad, recipe development research Our very and every folks working deeply just And also day, not in that innovation well. is

the every manufacturing those we have really that of flexibility and the a gives hit that forth to to that way each in the they assets want us addition see to and products. development we In customers put one technology

Gary Mobley

start welfare I&A to according your As expectation if overall get the the to an according performed what then wanted gross – on it's your ask of year if to well, it we performing fiscal margins if the may be. check my to And impact follow-up, now company's be as as the a new perhaps on quarter, that update a maybe will for full can sort I year. the expectation we do contributor, acquisition to it

Kris Sennesael

acquisition business We Labs Automotive July and Infrastructure of the Silicon XX. closed on of the

We're technology, really acquisition. people on. the data very high And with and paid electrical so, our quarter. excited growth like very I some a pleased September talented into the so months lineup XG for out strong group business, Again, believe data and a two price solar markets, a of communication, vehicles, the product infrastructure, fair we in we had included of with great three center,

it, with really well, performed acquired has in we've since line the business the in in September, expectations. two months So, last our

have in we out portfolio. not going break every sub every are product our that to of We revenue line

contributions business will revenue again, is We well. segment. performing the But broad report the market within our

with are as We will that really we to we growth the of at happy the time continue explained business drive acquisition. acquisition the in further and

Operator

question next the of Sandler. Kumar from comes The from Harsh line Piper

Harsh Kumar

you market and results the First all congratulate of earlier. me some question supply all, on to issues. guys pretty let the follow-up based Gary's on just in wanted solid volatility on I

You I perform were But quarter? got trouble a December think ask you will to then a And to broadband mobile may breakdown. follow-up. enough I've gracious give you us September in the how versus about

Kris Sennesael

double-digit but for broad little markets, And at we see Probably bit up mobile sequentially. both double-digit growth. mobile guided which at sequentially. a billion, stronger company just We $X.X and both in XX% total in the at growing is than broad sequential markets do

Harsh Kumar

you're There's trends the was given what could that Chinese of by And talk mixed China about lot kind the about market. coming being a Liam, are of seeing signals lot earnings I a hoping, right trends you out. now. in of there's talk

you seeing you're shift, you. mix down, be ways, either benefiting up may or or benefiting not If any that

color what curious got you Just China. in

Liam Griffin

years to know, continues. and platforms baseband in able the and the navigate partnerships. been we've player you ecosystems a for that And China regardless of been As have

for the which been we've great for business got a up solid us. into lanes, has content brings with So, XG up us. portfolios, continuing them OBX very The position the to drive

the given smartphone. upside, base Now, in we China know tremendous relatively low there's

we're that technology needed strong. the And China. well So, our We make to have to in through definitely very certainly positioned continue that. numbers navigate to that is lift look

the how little that lighter flagships still phones. it. of is part have great the to opportunity of of a US. do those some a it's enrich in the the But have within definitely an It know kind technology we to bit we They're portfolio. than So, to

fulfill the is The a them thing smooth they want job other people market labs China types of for consumer. and applications easier about engineers, can the to make want they integration, the that products, fabs transition they want need our they to

stuff the that's bread So, all butter. around and that that's our edges, our

a a And great there. advocate those to OEMs. we're are we great partner So

Operator

Timothy UBS. comes line next Arcuri of the from question Your from

Timothy Arcuri

that fiscal what you now can customer of the top over, XXXX? sense is Kris, your us fiscal give year a was for

Kris Sennesael

the The same course, XX%, on of team Skyworks witnessed the quarter when at a times content new Skyworks well includes, underscores sockets in obtain new of see, that complex, higher they this almost platform just and you XX% executed we as in high chain, teardowns way, came we the take there. ramp that from a Wi-Fi, smartphone other you of came total lineup, out and the some well, the into which number, By the when dollar This and able row, the or performance, as By the across was filters, by slightly provided But as highly GPS receive QX we in have Bulk out. came smartphone of launch phone. big at top were every QX, smartphone the that in the Also, but full-year platforms the including find approximately best-in-class many technology cases, the integrated customer. you have the account in fiscal customer transmit XX but up really supporting TC-SAW to multiple is course. other functionalities, and very multiple XXXX, they with in that QX, the will a we XX%. phone, the timing inside. now teardowns, And solutions, way, the engagement at which really look that launch the can deep have product XX Wave not sell, revenue customer in chain, many basis. of almost of was again of including you Acoustic closed, that multiple to that in the form That it really for of per only yet is

So great execution by team. the there

Timothy Arcuri

of of China domestic my the there But, I you high at OEMs your pretty follow-up, market lot a least sell-through market. noise guess as as in to is not exposure seems as tight. have much of But points. don't some peers the are that End tier market definitely, some Chinese there's kind I or diverging know data the great. do.

have seeing between China? talk distinction So, sell-in in and about you can just what sell-through? you're can Maybe you a

Liam Griffin

is to that And market played us. important quite well. China The we've

have We brands. great the all partnerships leading with

The We're And integrated is the that complexity content. that It's about I the opportunity. think continuing to mentioned, approach, the using of they It's up. key because embracing In to Wave, kinds the tremendous Kris here, signals the it's and using Kris kind technology of driving mentioned players going complexity our and not approach. very, it, Acoustic it's phone. an end SkyX performance. the China, the using higher grow a are you in side Bulk all technology, in complex TC-SAW, of different is where great. have to technology field, content see increasingly a phone we very what's

And also still could to that So making independent that we $X a cases, want that uplift them happen capability. have And rapidly, we're pretty of conditions. adoption to lower high $X. $X to a to full percentage lower depending $X There's could move content we're of end. uplift bring trying those end the China you in phones and in XG to to market

pretty that on And good so, there's side. leverage

we'll all the for that's got of within And the multiple the We're very the us. with for often, economical. and most a along. of to focuses customer XX customer, to market years that the one dial from to step China. on have that highest we address we the phone may you've And worked So, strategies able move that's X to move and as with first continue work them content performance

celebrated be by really bringing a it's enjoyed So, user. to best and technology having around that and customer strategy the the end the

Operator

question from comes Srivastava BMO. next Ambrish line the of Your from

Ambrish Srivastava

two conflicting peers. heard your yesterday we commentary from Liam, of

has your And one impacted does a follow-up trended? importantly, had the quarter customers, very what perspective it's But shortfall I not large clearly well And you, seasonality. then that Kris. publicized how for given March of your wanted more seems constraints. that business. your for it Just on in And mean like the

Liam Griffin

made our that With we've at investments unpack to cases we investments made to execute that to to in try really We'll one is respect others ability about time. that, were and a that deliver, not and where some able early. maybe do

in let billion we from for to one went that? year no you those indulge Well, set do win. the year. also, we if do X So, could me billion to right In months a where had XX we back to we appreciated months, a the made we ready technology $X.X year. customer market. one go that performance we $X.X to and With How ourselves the here minute, ago, were that and before to M&A. to investments knowing months And that bring

and worked we technology do. they're that capital upside executed there, job But for that we is so, And those us tremendously. a the The today. there's to great on and those are lot investments need more assets of

those arsenide issues standard can we to it's course, assembly this the SAW, packaging, customers all of a nicked way test, for having Wave, heard match and and critical, supply assets of Bulk all about right in mix long to you've and little that. it's But TC-SAW, see, a We here solution up together. the from what our me So, strategic, talk the and want gallium Acoustic chain in-house, assets to put shortages. bit in-house time, were are having

then today. our that drive drive invest market talking to that to environment. and was go Certainly, why our to reasons very numbers customers. is within it strong. to be, flexible about we're ability company Whatever flow, to cash continue IoT that But are Bluetooth experiencing that ways having bring performance that same the we early, to to those of products the to do our XG to technology that protocol vehicles and Wi-Fi. here the for So, connectivity execution ability market They're very the may in execute from will the one have we're the

Ambrish Srivastava

seasonality the what And about for March?

Liam Griffin

really here to a traditional, at to March have We're spot soft this into tends in point. a March That's going we guide be get a year. been this the at little of don't bit point. not to March but

Ambrish Srivastava

had longer and I a one. a one Kris, quick

one Sorry. Should have I year. CapEx should then cap and diversified to intensity, at stay double-digit. fiscal long-term what for a single-digit, target business in us just given The trend said. of business capital a the term, is you back has it and really the you've bigger it at versus peer. what just we expect it margin segments. looking higher it much the quick least Isn't footprint past? to to closest your Liam And in And longer your you. why higher revisit up ties broad, time not than now the that much margin It's Thank think high

Kris Sennesael

the been in range. did we're the in fiscal the that fortunate First very last which CapEx of CapEx XX%, that we revenue, XXXX, make in all, We've on XX% with line over years. somewhat was of to is investments. XX% couple running about And

of capacity, the because and in because beginning adding new we're the competitors just manufacturing made is but and XG that place. mobile technology the hesitate into and of not CapEx proactively issues lot a beginning Skyworks other also the world, in outside way, we but cycle, footprint, just is well That place. necessarily our we expanding putting the again, XX% decision smart revenue not have perfect, XG investments team it's we There proliferation here, than this of very And performance but was the not beginning industry right? the to of technology If really grew supply, products. is Skyworks. a in As supply upgrade, by our the long There growth of of only markets. the by more and a put tightness in of explained, players, just the year-over-year. did compared the has, necessary capacity not would improving Wi-Fi our the demand higher of The and not is peers and executed we than

to so, the and and we of support hesitate are not business. growth make investments the going And to the we to continue going necessary are further

we to relates it did As gross XX%. margins,

went continue we points before. XX sequentially, drive talked up basis and and it XX up it to So, all wish basis year-over-year. work higher and I've that drive was higher. will points But We team about the

supply still facing facing it it And environment the handling right well. headwinds. team and Again, we is input tight are are constrained some very a yes, COVID-XX cost is increases We now.

to efficiencies. improve we We drive a further operational you continue over margins to together, it further And put time. when gross all path have

Operator

next comes Chris line from James. Raymond of Your question from Caso the

Chris Caso

But on question And different that content? content unit content Is pretty of gauge numbers? Recognize it but is revenues this baked question launches. for up all look attributable Is to that out magnitude of in we're X%, they on your looks like kind year? to last guidance, to any the I like unit second the trying the gains there? looking X% year. gains the growth normalize at some this My that about those coming the of product any year, exceptional based in what off mobile is, there guess half And year-on-year. second half there decline is

Liam Griffin

comes content, and solutions. Chris, with we constantly teams I technology, opportunity also the forth broadening our crafting reach. see developing certainly generation right? push it value, And greater think greater to, the and So, again, are next

performance, for behind Performance you've the deliver set isn't got drive broader a going customers. just to means of performance then, really really certain find right? a is It's this. And What what's set a tremendous that. customers. of there's it we technology that just to is So need that

forward. for stuff strategically, are how a lot done. spending But right? the next solutions like we're in crafty, money inhouse now and area. mobile I that are developing that great So, XE got R&D be position complement we will some for that in get And folks classic Markets in to to wave, Wi-Fi around a of And is right move we've and know as great doing great connectivity we're X device. growth going think also Wi-Fi what

good ideas inquiries a on. So, the with the there's end that the to worry great. chain of lot being is our our no our quite appetite about about supply And and going asked levels that I R&D than the I I'd chains. stuff to performance teams which and that really customers fantastic. want side, think we with we're the really our challenges rather is bring on But we're The much and talk There's doing well. think execution and supply raise to need. to continue bar customers our they to technology address,

Chris Caso

was to you question chain ask supply going follow-up a on I then.

still asked happening as terms with you does everything about. we've to of many the of first of to wanted heard your ship going that calendar be suggest some here in of you you able in ship the go customers that to fact the to that slower the you folks? from that But want catch industry the half the Are into year. still to with something year? for? don't regard to constrained seasonally the And up the that in – everything supply shipments there's been customers So, many you Is constraints, others haven't the can't weren't some talk half you second that able

Liam Griffin

one close curve. to have allows demand really fact we On manufacturing hand, our the to situation. be tricky us own that assets the a It's

So, waiting we're waiting these not and overhangs waiting, for parts. parts. we're waiting and to our subject We're making big where

partners. technology inhouse the an we Around company. largely will we're some So, edges, fabless use

it much some to others. parts much, is lower still takes Of Do understands finished have could or two one product. a effects? everybody course. that muck Because we So, our up than exposure that only And that.

stretch that create I ability business Skyworks the billion, given does is the are. would for indicator $X.X some the talked we a then of and $X.X to about, scale pretty the at to as evidenced But lately, work wrinkles. our say years we've done that, by as billion it and So, capabilities what good more

when We're very, to we're that very way. field. doing capable well we've of And and I do either again, they're a with own has muddy with your well own we're platforms going you So, believe that tailwind do those going going our do when managing a making lot got to and that of your it's to your technologies, investments go. people, where own know to teams exactly it

of that's go So, our strategy as we kind forward.

strategy going that work future. that well that think is very, I to very for the

Operator

Your line comes Edward Equity next from question Charter of Snyder the from Research.

Edward Snyder

Kris, rich part, filters, landed parts which TC-SAW. I'm one module, of transmit very uses well, a the that you the your largest is as diversity is BAW customer as standout sure,

that You've among that. the not better would part, it's going on the had But many. if expect know are least highest that content that one the to not part margins before. given among I of at I be average, than the

of pretty we sophisticated and be see customer, of size those, for not and be you, mobile size XG Given the we of expect more at given customers? others but the the volumes to just folks at these Should customer, if those driver should margin features? move more would high. unit the that Samsung the significant of a That as

Kris Sennesael

parts discuss can understand specific margin I I assume for you can't on specific customers. gross specific

Edward Snyder

the But be it transmit and the see. a part basic looking because was to parcel moving high to going DRx vastly is the trend. And and I'm from we trend is XG, end this connectivity. one phones that of advanced more first for modules for are connectivity now obviously,

from phones, those you, we more margin expect see to especially shouldn't we in as all So, increase to? of

Kris Sennesael

indeed, I've the about bring complexity, to invested. for now improvement of And have integrated a as to requires before, our the more enhances strategy adding for Absolutely. that. And paid XG, the XG we largest customers The that from margin value requires And And is higher higher that move XG of been requires improvements the that parts customer. be right? a XX to really is And value how be talked that we to that to to overall our years of that added, products. product that dollars that CapEx contribution to our to and understand last lot certain XG. value our gross R&D, highly driving gross performance margin

right absolutely about You're that.

Edward Snyder

products little you've point, I this If been of know Or should of late then couple you they term importantly, or last here? looking know and for by here. under so way this expect gain I They hold out quarter. year next see quarters, for look Did at they're probably the to ground up it kind the will XX% will on Samsung. – bit I because should a mix broach further especially high maybe favoring on we short at single-digit quarter? the gains? mix And the lid we kind they're beginning earning low next at more could, year, next of the percentage were to periods the end of continue more to revenue

Kris Sennesael

Absolutely. are They you but are to the right. up customer, right, were not a they XX%

So, sequentially, is business as the as growing trend well is the year-over-year.

their embedded with As we rich the in complex with well, can sell lineup. but teardowns devices Liam before, not And large that of many the phone way, well. only have other their as very of see pointed momentum as connectivity design phone the out as parts that by some with not you have customer, wireless them, in in lineup, great some they dissimilar to win their

Edward Snyder

of has improved things Liam, that in There's in of anyway Qualcomm But shortages Or up, you will modem? term to you supply kind to led use or low of the If How leverage combination of end the that. in that China one. long the the saw the of it's low for of kind and greater a And that chain [indiscernible] low-end the OEMs back even eases band. also, performances could the lot RF the do the we supply has given of with your I be given comment yesterday, sticky is some as phones, for smaller secret short-term? [indiscernible] once think mean? maybe products. we'll them those. get band. a on chips it bigger share in in certainly. see reversion compelling OEMs China no It's of Do chatter getting the could, some trend you mid, some some maybe shaking final in high their a They've that share out a chain you.

Liam Griffin

in like market. of quite a I lot think the portfolio have market, It or a larger players kind the last overall Android over the of been the portfolios and opportunity the year there's while. China we've vis-à-vis better the a so, OBX seems done and for in higher-end there's

said having serve we that, Now, everybody.

because, this One comes capacity content. are what a industry really deeply in as in think and we the of us dollars the technologies as And of that of of and the user content scale, lift China, higher as those that that in Skyworks, not to but lot bit it's to help of for know in couple a talked you I inhouse the demonstrating And opportunity there's of to is the tremendous it things going performance incremental devices. a phones, connected a that. significant. the down quite that do the know-how technical advantageous And rich to the experience, content China can the it's in to end and know, some about is is

to got with user. catalyst a do have mean good what see have getting drive to really to And our to a to that. up performance And response very content when users very, we we're I going bit you've And customers little of to an the that's content just can think that connected demonstrate get because that to to it, can there. continue other So, to much need many, there put We engagement it. customers there how much can them, do opportunity performance are to solutions that many them levels we gain that experience end much better the really we with know a performance – with higher to provide. And see marks. there's that right front a of better embrace in for our do

work application well. great have as that baseband We engineers across each can

tremendous there. or market opportunity supply And So of of has a things growth, despite the think we're the lot there's – chains. areas a in some in about I one to the talking of it's of that that one do markets still the

Operator

question Sachs. from Toshiya, Toshiya comes of from open. the next is Hari line your The the Goldman line

Barclays. Our next of line from Blayne comes question from Curtis the

Blayne Curtis

the I a to I broad just I little confused. was want markets. follow-up bit guess on

about business was the million. up So, $XX

more acquisition the add think double that. I than

might it were June I weak weak? Is come supply a back. I it been Wi-Fi you think have for a So, I if think you guess what's had from it didn't think hear and I in to little issue? right, I I looking

So, second, what's weak? And December, in what's then rebound I guess you're forecasting it to that? driving

Kris Sennesael

not the Blayne, only supply markets the of chain, to it's parts you're so or because not Skyworks way, right, to broad in of absolutely customers able is the bill materials issue but of issues, right. the of some about When some the in especially competitors business. other industry. and By our Liam struggling talked in tightness are the peers get players from supply, full or more keeping

result necessarily the And of now. a right later. Skyworks need They parts need them they will don't so, that, as

course, do of that I some to gets think tightness and December ahead materials. that full some supply also they broad products. Skyworks connectivity own if that beyond, most looking that in chain of in level, the the resolve look again, very broad assume demand further and So, driving supply will bill markets. the markets. that, there And high strong for revenue was in But growth then that overall it can of broad we get resolved, a set to in its Because at in of of you drive will is of tightness

don't very automotive, see look applications, type is demand, of slowing industrial, that and some we you down. consumer If at strong there

Blayne Curtis

not Apple if else? or And be given And mobile of but a should of maybe if was part December, it's I'm it kind just question would the the double I something September, you perfect math, kind that, a as down issue up double but ask math I in I it said, the I curious it September. guess right, down in be similar whole Android digits, mobile for kitting of group does with was just Android Can is side? that seem digits. curious, is you had on Given revenue reported, like that similar

Kris Sennesael

been No, has not the for have chain, competitors. of with have how peers customer September In platforms, December, only with it in launches company, that's right? I and Skyworks, but the been they the the last the supply and large priority five their many with that when new years

with Android up put years, going even this year understands customer. so, last that fight tight, to when very you fluctuations And the they some the Absolutely. more five will seasonal large not it's in and there. supply Especially for see so North are American a than then

Operator

Ackerman Company. Our and Cowen final of from Karl the question line comes from

Karl Ackerman

broad I I if markets business, your focus may. wanted to on

products diversified within the integration business. you the hoping of end markets and acquisition products. whether markets isolation industrial for have broad peel do you performing more Wi-Fi And now in describe the line You is a power your are and through was I auto of SLAB's back with your onion the discuss seeing opportunities you could and initial some expectations. if could timing,

Kris Sennesael

great the business before, now the well. in I'll we've start. more great and our month it's acquisition. growth way, We're that really And as the markets, and here doing in the fabless yes, business, I relationships, know. high really customer I&A two December months said By And about people, model, you belt September product, a quarter. is as great technology, quarter under great one business excited

tightness demand supply, than bringing more is working of some well supply a on but creating supply. bigger definitely the the and there's point is view, from there on the as more team supply So,

well. And working so, it's out

Liam Griffin

me add to There's SLAB. I&A from in There's tremendous lever opportunity technologies. business tremendous that. the Let diversification a here the with

to scale is before. there size had that that the have been We incredible just compared

that it the we our the within the also and there. I seeing and to great there's can going bring technology that and think acquired hit into customers, are portfolio. lot the And are plays make There's game. outstanding, some to And we're scale to going it great inhouse, do We than So, to for pollenization sure. stuff harder chain us to bit there. sales kind We're factories sure technologies to cultivate track. we're where we that and the a lot take off strategic We're issues some others. closely the are opportunities a with bring that of little grow on And doesn't cross our great, raise team we be strong sites, done supply customers streamline. very our the technologies are. and portfolio technologies But opportunities The into a those going I&A of that of working need the there. just understand exactly right

Karl Ackerman

way. been this asked For ask know to times. my try follow-up, if different I I several may. a and has I want it

some a digits pushed products of moderation has mobile And from double in You the you December issue? put, Simply few into quarters? reflects next a I'm demand within over this because if if of quarter. it I'm you curious I demand that that would next the China? China And this Is see mobile grow seems ask some will March. curious view. supply being And that is suggested would issue? rectified endorse that that how

Kris Sennesael

talking the very be to be talking question suppliers. about that. XG, XG And in There's continues phones. you at continues no strong. XG here China look demand data, I'm there's very or When to I'm about China in strong. multiple not XG phones the for XG about phones. demand

American into well and North really players customer then, is as there. course, And large well. supplies there's the China course, Of of doing Android the

And you we March see of strongest But customer. North for with year the to business. of somewhat not as Year to December is September rebound quarters a said lot some play supply the because business of Now, into there seasonality well American that goes quarter well. part I Chinese out New expect And are a the typically that large before, that as being and to March this quarter. seasonal the that as

Operator

for comments. gentlemen. any question-and-answer today's and session. I'll Mr. That ladies closing now concludes to you, Griffin Thank

Liam Griffin

to today's on We upcoming investor Thank for to you talking Thank you participating you. at all with you look forward call. conferences.

Skyworks Solutions (SWKS) 5 Nov 212021 Q4 Earnings call transcript