Skyworks Solutions shares slip 4% on the large fall in revenue

This update corrects the fourth quarter EPS estimate.

Skyworks Solutions Inc.

SWKS, + 1.21%

shares slipped 4% in afternoon trading on Tuesday after the semiconductor company reported a large fall in turnover in the fourth quarter of the previous year. Skyworks reported a net income of $ 210.6 million, or $ 1.22 per share, compared with a net income of $ 285.5 million, or $ 1.58 a year earlier. Adjusted for one-off items, the company reported revenue of $ 1.52 per share, versus $ 1[ads1].94 per share a year ago. Revenue fell 22% to $ 827.4 million from $ 1 billion a year ago. Analysts surveyed by FactSet had projected adjusted earnings of $ 1.50 per share on revenue of $ 825 million. Skyworks shares are up 51% this year. The S&P 500 Index

SPX, + 0.16%

has gained 23% this year.

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