Skyworks guides for fiscal 1Q above analysts

WOBURN, Mass. - Skyworks Solutions Inc., which makes chips for mobile communications, on Thursday projected fiscal first-quarter earnings above Wall Street projections as it introduces new products and improves operating margins.

The company expects adjusted earnings of 23 cents per share for the quarter ending in December. Analysts polled by Thomson Reuters expect income of 22 cents per share.

Skyworks projected revenue of $240 million, with growth in new customer platforms more than compensating for softness in the broader market.

Wall Street expects revenue of $239 million.

Shares lost 68 cents, or 9.6 percent, to close at $6.42. But in aftermarket trading, the stock rebounded 88 cents, or 13.7 percent, to $7.30. The stock has traded in a 52-week range of $5.45 to $11.24.

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