SOURCE: The Bedford Report

The Bedford Report

January 24, 2011 11:25 ET

Skyworks & QLogic Face High Expectations

The Bedford Report Provides Analyst Research on Skyworks Solutions & QLogic

NEW YORK, NY--(Marketwire - January 24, 2011) - Shares throughout the Semiconductor- Integrated Circuits industry have been hit hard of late following a string of disappointing earnings reports.  Companies focused on cell phone chips had been on a tear the past year, and investors had come to expect "beat-and-raise" quarterly earnings reports -- as in beat analyst estimates, and raise guidance. When this doesn't materialize, carnage can break out on the trading floor. The Bedford Report examines the outlook for companies in the Semiconductor - Integrated Circuits Industry and provides research reports on Skyworks Solutions, Inc. (NASDAQ: SWKS) and QLogic Corporation (NASDAQ: QLGC). Access to the full company reports can be found at:

Cell phone chipmaker Skyworks solutions saw its share price dip last week after the company said its fiscal first quarter net income totaled $60.9 million, or 32 cents per share, compared with year-earlier earnings of $28 million, or 16 cents per share. Adjusted earnings came in at 45 cents a share, while revenues rose 37 percent to $335.1 million from $245.1 million.

For the next quarter Skyworks predicts a 30 to 34 percent year-over-year jump in sales due to surging demand for its chips found in popular tablet computers and smart phones.

The Bedford Report releases regular market updates on the Semiconductor - Integrated Circuits Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.

Skyworks' industry peer QLogic will report earnings this Thursday. The supplier of high performance network infrastructure solutions has already reported "preliminary" third quarter earnings, saying that it expects revenues in the range of $155 million to $156 million as compared with the previous expectation of $148 million to 156 million. On a non-GAAP basis QLogic expects net income of 48 cents to 49 cents per share, up from the previously projected range of 34 cents to 38 cents.

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