Skyworks Announces New $250M Stock Repurchase Program

Skyworks Solutions (NASDAQ: SWKS), an innovator of high performanceanalog semiconductors enabling a broad range of end markets, today announcedthat its Board of Directors has authorized the repurchase of up to $250million of the company's common stock from time to time prior to July 16,2015 on the open market or in privately negotiated transactions, incompliance with applicable securities laws and other legal requirements.This newly authorized stock repurchase program replaces in its entirety the$200 million stock repurchase program which was approved by the Board ofDirectors on November 8, 2012, and had $35.6 million of repurchase authorityremaining. The timing and amount of any shares of the company's common stock that arerepurchased will be determined by the company's management based on itsevaluation of market conditions and other factors. The repurchase programmay be suspended or discontinued at any time. Any repurchased shares will beavailable for use in connection with its stock plans and for other corporatepurposes. The company currently expects to fund the repurchase program using thecompany's working capital. As of June 28, 2013, the company had cash andcash equivalents of approximately $400.3 million. About Skyworks Skyworks Solutions, Inc. is an innovator of high performance analogsemiconductors. Leveraging core technologies, Skyworks supports automotive,broadband, cellular infrastructure, energy management, GPS, industrial,medical, military, wireless networking, smartphone and tablet applications.The Company's portfolio includes amplifiers, attenuators, circulators,demodulators, detectors, diodes, directional couplers, front-end modules,hybrids, infrastructure RF subsystems, isolators, lighting and displaysolutions, mixers, modulators, optocouplers, optoisolators, phase shifters,PLLs/synthesizers/VCOs, power dividers/combiners, power management devices,receivers, switches and technical ceramics. Headquartered in Woburn, Mass., Skyworks is worldwide with engineering,manufacturing, sales and service facilities throughout Asia, Europe andNorth America. For more information, please visit Skyworks' Web site at:www.skyworksinc.com. Safe Harbor Statement This news release includes "forward-looking statements" intended to qualifyfor the safe harbor from liability established by the Private SecuritiesLitigation Reform Act of 1995. These forward-looking statements includeinformation relating to the expectations of Skyworks with respect to the useof its stock repurchase program. Forward-looking statements can often beidentified by words such as "anticipates," "expects," "forecasts,""intends," "believes," "plans," "may," "will," or "continue," and similarexpressions and variations or negatives of these words. All such statementsare subject to certain risks, uncertainties and other important factors thatcould cause actual results to differ materially and adversely from thoseprojected, and may affect our future operating results, financial positionand cash flows. These risks, uncertainties and other important factors include, but are notlimited to: uncertainty regarding global economic and financial marketconditions; the susceptibility of the semiconductor industry and the marketsaddressed by our, and our customers', products to economic downturns; thetiming, rescheduling or cancellation of significant customer orders and ourability, as well as the ability of our customers, to manage inventory;losses or curtailments of purchases or payments from key customers, or thetiming of customer inventory adjustments; the availability and pricing ofthird party semiconductor foundry, assembly and test capacity, raw materialsand supplier components; changes in laws, regulations and/or policies,including the possibility of expiring tax cuts combined with mandatoryreductions in federal spending, in the United States that could adverselyaffect either (i) the economy and our customers' demand for our products or(ii) the financial markets and our ability to raise capital; our ability todevelop, manufacture and market innovative products in a highly pricecompetitive and rapidly changing technological environment; economic, socialand political conditions in the countries in which we, our customers or oursuppliers operate, including security and health risks, possible disruptionsin transportation networks and fluctuations in foreign currency exchangerates; fluctuations in our manufacturing yields due to our complex andspecialized manufacturing processes; delays or disruptions in production dueto equipment maintenance, repairs and/or upgrades; our reliance on severalkey customers for a large percentage of our sales; fluctuations in themanufacturing yields of our third party semiconductor foundries and otherproblems or delays in the fabrication, assembly, testing or delivery of ourproducts; our ability to timely and accurately predict market requirementsand evolving industry standards, and to identify opportunities in newmarkets; uncertainties of litigation, including potential disputes overintellectual property infringement and rights, as well as payments relatedto the licensing and/or sale of such rights; our ability to rapidly developnew products and avoid product obsolescence; our ability to retain, recruitand hire key executives, technical personnel and other employees in thepositions and numbers, with the experience and capabilities, and at thecompensation levels needed to implement our business and product plans;lengthy product development cycles that impact the timing of new productintroductions; unfavorable changes in product mix; the quality of ourproducts and any remediation costs; shorter than expected product lifecycles; problems or delays that we may face in shifting our products tosmaller geometry process technologies and in achieving higher levels ofdesign integration; and our ability to continue to grow and maintain anintellectual property portfolio and obtain needed licenses from thirdparties, as well as other risks and uncertainties, including, but notlimited to, those detailed from time to time in our filings with theSecurities and Exchange Commission. The forward-looking statements contained in this news release are made onlyas of the date hereof, and we undertake no obligation to update or revisethe forward-looking statements, whether as a result of new information,future events or otherwise. Note to Editors: Skyworks and Skyworks Solutions are trademarks orregistered trademarks of Skyworks Solutions, Inc. or its subsidiaries in theUnited States and in other countries. All other brands and names listed aretrademarks of their respective companies.