Skyworks Solutions, Inc.

Good afternoon and welcome to Skyworks Solutions second quarter fiscal year 2021 earnings call. This call is being recorded. At this time, I will turn the call over to Mitch Hawes, investor relations for Skyworks. Mr. Hawes, please go ahead.

Thank you, Rob. Good afternoon, everyone, and welcome to Skyworks second fiscal quarter 2021 conference call. With me today are Liam Griffin, our president and chief executive officer, and Chris Senesal, our chief financial officer. Before we begin, I would like to remind everyone that our discussion will include statements related to future results and expectations that are or may be considered forward-looking statements. Please refer to our earnings press release and recent SEC filings, including our annual report on Form 10-K for information on certain risks that could cause actual outcomes to differ materially and adversely from any forward-looking statements made today. Additionally, the results and guidance we will discuss include non-GAAP financial measures. consistent with our past practice. Please refer to our press release within investor relations section of our company website for complete reconciliation to GAAP. With that, I'll turn the call to Liam.

Thanks, Mitch, and welcome, everyone. Skyworks delivered another record quarter with strong year-over-year growth in revenue, margins, and earnings per share for Q2. We continue to leverage our expansive technology reach in deep customer engagements, spanning both mobile and broad markets to capture the exploding demand for connectivity. And with our planned acquisition of the infrastructure and automotive business of Silicon Labs, we expect to accelerate that momentum further. Here are a few highlights in the quarter. We delivered revenue of $1.17 billion, 53 percent above Q2 of last year. Our broad markets portfolio generated record revenue of $385 million, 67% growth over the same period last year. We posted a new Q2 record for earnings per share of $2.37, representing a year-over-year increase of 77% and demonstrating strong operating leverage. Importantly, we drove $616 million in operating cash flow, a new quarterly record for the company. Looking ahead, the technology bar has never been higher as billions of daily interactions move online, spawning a growing set of use cases from remote work, virtual education, touchless commerce, cognitive audio, machine-to-machine communication, and autonomous transport. These advances rely on radical upgrades in speed, latency, and reliability. with comparable requirements for power efficiency and smaller form factors. For nearly two decades, Skyworks has prepared for this opportunity, investing in innovative technologies, human capital, and manufacturing infrastructure, positioning us to capitalize on the secular global transition. Notably, our strong cash generation fortifies our ability to fund deep investments in technology, fabs, and manufacturing scale. Further, our proven and flexible model is squarely aligned with the complex demands of our customers. Our demonstrated operational expertise allowed us to drive yet another strong quarter of design when execution. In mobile, we expanded the reach of our Sky5 portfolio across premium and mid-tier 5G smartphone launches at Samsung, Oppo, Vivo, Xiaomi, and other leading OEMs. In the IoT space, we secured wins across a diverse set of customers. Specifically, we partnered with Netgear to deploy Wi-Fi 6 and 6E routers, launch Wi-Fi 6 gateways at Deutsche Telekom, Nokia, and Altice, shipped home security solutions to Xfinity, captured design wins with Google Nest, and we delivered low-latency cognitive audio systems, powering wireless gaming headsets at Microsoft and Sony. Moving to the industrial space, we delivered IoT modules to Quicktel and Gemalto. In an infrastructure, we leveraged our wireless portfolio to deploy MIMO base stations with Nokia and Ericsson. And finally, in automotive, we ramped telematics and driver assist platforms with Volkswagen, LG, and GM OnStar. Moving forward, we see a multi-year technology evolution with our aperture widening from smartphones, industrial, to automotive, to an expanding set of IoT devices. Today, we support a global network that extends to over 20 billion interconnected devices, spawning a new class of ecosystems, from autonomous transport to smart cities and robotics. Skyworks is fueling this dramatic shift with our unique capabilities, integrating not only 5G, but other critical protocols, including high-performance Wi-Fi, Bluetooth, and precision GPS. Finally, Skyworks is well-positioned to win with deep customer relationships established over 20 years, experience across multiple technology transitions, a technically seasoned and talented workforce, and an efficient cash flow engine that funds a pipeline of market-leading solutions while providing strong returns to our shareholders. With that, I will turn the call over to Chris for discussion of Q2 and our outlook for Q3.