Skyworks cuts convertible debt by $50.7 million

New York, April 24 - Skyworks Solutions, Inc. said it retired $50.7 million of its $230 million of 4.75% convertible notes due 2007 during the quarter ended March 31.

The convertibles were purchased at less than par, the company said in a news release. In addition, the transaction will be accretive to earnings per share.

Following the reduction, Skyworks had $179.34 million of the convertibles outstanding as of March 31.

Skyworks is a Woburn, Mass., maker of wireless and precision analog semiconductors.

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