Skyworks Solutions Reports 12% Jump in Q2 Revenue (GILD, KLAC, SWKS, WDC)
Gilead Sciences, Inc. (NASDAQ:GILD) reported a lower than estimated first quarter earnings late Thursday. The company posted net income of $442.0 million or $0.57 a share, down from a year ago profit of $651.1 million or $0.80 a share. On an adjusted basis, the company would have earned 91 cents a share, missing analysts’ estimates by 3 cents. Total revenues for the first quarter of 2012 jumped 19% to $2.28 billion, from $1.93 billion for the first quarter, ahead of analysts’ estimates of $2.20 billion for the quarter. Shares of GILD slid 1.01% to $52.19 in early morning session.
KLA-Tencor Corporation (NASDAQ:KLAC) shares slid despite the company posted a better-than-estimated third quarter earnings and provided above estimated revenue outlook . The company earned $205 million, or $1.21 a share, compared to year ago profit of $210 million, or $1.22 a share. On an adjusted basis, the company would have earned $1.27. Revenue during the quarter grew to $841 million, from $834 million in the year-ago quarter.
The company projects to earn $1.20 to $1.38 a share on revenue of $840 million to $900 million in the current quarter, topping analysts’ estimates of $1.24 on revenue of $846.6 million.
Shares of KLAC were down 4.21% to $52.79.
Skyworks Solutions Inc (NASDAQ:SWKS) rose 8.45% to $27.66 as the company posted strong than anticipated second quarter earnings. The company earned 42 cents a share, ahead of analysts’ estimates by 2 cents. Revenue stood at $364.7 million, up 12% from a year ago, topping analysts’ estimates of $360 million.
The company expects to earn 44 cents a share and revenue in the range of $383 million in the current quarter, compared to analysts’ estimates of 45 cents a share on revenue of $381.8 million.
Western Digital Corp. (NYSE:WDC) shares slumped 12% to $38.86 despite the company reported a well above profit for the third quarter. However, its share sold off due to the company’s commentary on the supply/demand balance in the drive industry, which has seen sharply higher prices in recent months in the wake of last year’s severe flooding in Thailand.
The company reported $483 million or $1.96 per share, up from a year ago profit of $146 million or 62 cents per share. On an adjusted basis, the company would have earned $2.52 a share, huge beat of 93 cents from analysts’ estimates of $1.59.
During the quarter, Western Digital shipped 44.2 million drives in the quarter, well above the 31-33 million it had guided earlier. In the second quarter the company shipped 25 million hard disk drives.
Revenue increased to $3.04 billion from $2.25 billion last year. Analysts were looking for $2.46 billion in sales for the period.
For the current quarter, the company projected to earn $2.35 and $2.55 and revenue to be in the range of $4.2 and $4.4 billion, compared to analysts’ estimates of $2.34 per share on revenue of $4.18 billion.