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Skyworks Solutions profit misses consensus by 37.1% in fiscal Q2

Skyworks Solutions Inc. said its normalized net income for the fiscal second quarter ended April 3 amounted to 71 cents per share, compared with the S&P Capital IQ consensus estimate of $1.13 per share.

EPS climbed 112.9% year over year from 33 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $138.5 million, a gain of 116.2% from $64.1 million in the second quarter ended March 28, 2014.

The normalized profit margin rose to 18.2% from 13.3% in the year-earlier period.

Total revenue climbed 58.4% on an annual basis to $762.1 million from $481.0 million, and total operating expenses increased 43.0% from the prior-year period to $541.1 million from $378.4 million.

Reported net income rose 115.8% from the prior-year period to $165.9 million, or 85 cents per share, from $76.9 million, or 40 cents per share.