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Skyworks Solutions looking to continue to improve operating margins, balance sheet
By Jennifer Lanning Drey
Portland, Ore., Jan. 14 - Skyworks Solutions Inc. is focused on continuing to increase its operating margins, which it will translate into a stronger balance sheet, Donald Palette, chief financial officer of Skyworks, said during a Thursday presentation at the Needham Growth Stock Conference in New York.
"Our balance sheet is as strong as it's ever been. We think that's going to continue, and that gives us a lot of flexibility," Palette said.
The CFO said Skyworks has improved its operating margins in recent years by increasing its focus on revenue growth, improving product margins, managing operating expenses and investing in R&D programs that it believes are accretive to the overall business.
As a result, despite lower year-over-year revenues, the company generated $214 million of cash flow from operations in 2009, compared to $181 million of cash flow from operations in 2008.
Skyworks' 2010 growth catalysts include its strong position as it relates to the technical requirements and complexities of 3G technology, Palette said.
Skyworks is a Woburn, Mass., maker of wireless and precision analog semiconductors.
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