Skyworks Secures 5-Year Contract With Lockheed Martin
WOBURN, Mass.--(BUSINESS WIRE)-- Skyworks Solutions, Inc. (NASDAQ: SWKS), an innovator of high performance analog and mixed signal semiconductors enabling mobile connectivity, today announced that it has signed a five-year, multi-million dollar contract with Lockheed Martin (NYSE: LMT) to supply high-precision technical ceramic toroids and inserts for the Aegis Weapon System. This contract win reflects the company's increasing diversification into adjacent markets within its Linear Products business.
"By virtue of this strategic contract win, Skyworks is proud to supply ceramic toroids and inserts in support of Lockheed-Martin and the U.S. Navy," said Seth F. Stein, general manager of Skyworks' advanced ceramic materials business. "This new, multi-year agreement is a testament to the strength of our state-of-the art ceramics portfolio. We look forward to continuing to foster our working relationship with these world-class partners in defense of our country."
"This five-year contract reflects a key component of our supplier partnership strategy," said Orlando Carvalho, vice president of Lockheed Martin's Surface and Sea-Based Missile Defense Systems line of business. "These long term contracts provide cost efficiencies to the Navy and stability to our supplier base."
Aegis is the world's premier naval weapon system, and is the sea-based component of the nation's Ballistic Missile Defense System. The radar and missile package is seamlessly integrated with its own command-and-control system that iscapable of countering any existing and emerging threats to naval battle groups, as well as striking inland targets. In addition, Aegis is based on the most powerful and robust tactical phased array radar in the world, the SPY-1.
Skyworks is a multi-year winner of the Program Executive Office Integrated Warfare Systems (PEO IWS) Excellence Award, which is the highest U.S. Navy honor given to a civilian company. This highly-regarded award recognizes top suppliers with exceptional performance in quality, delivery, affordability and program management.
About Ceramic Toroids and Inserts
Ceramic toroids and inserts are critical functional elements in phased-array radar applications. They are used to electronically steer the radar beam on aircraft carriers, fighter planes and in terrestrial environments. Paired with other control circuitry, the net result is a very reliable electronically steered radar antenna for better military communications.
Headquartered in Bethesda, MD, Lockheed Martin is a global security company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2007 sales of $41.9 billion. For more information, please visit Lockheed Martin's Web site at: www.lockheedmartin.com.
Skyworks Solutions, Inc. is an innovator of high performance analog and mixed signal semiconductors enabling mobile connectivity. The company's power amplifiers, front-end modules and direct conversion radios are at the heart of many of today's leading-edge multimedia handsets. Leveraging core technologies, Skyworks also offers a diverse portfolio of linear products that support automotive, broadband, cellular infrastructure, industrial and medical applications.
Headquartered in Woburn, Mass., Skyworks is worldwide with engineering, manufacturing, sales and service facilities throughout Asia, Europe and North 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 qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include information relating to future results and expectations of Skyworks (including certain projections and business trends). Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "believes," "plans," "may," "will," "continue," similar expressions, and variations or negatives of these words. All such statements are subject to certain risks and uncertainties that could cause actual results to differ materially and adversely from those projected, and may affect our future operating results, financial position and cash flows.
These risks and uncertainties include, but are not limited to: uncertainty regarding global economic and financial market conditions; the cyclical nature of the semiconductor industry and the markets addressed by our, and our customers', products; our ability to develop, manufacture and market innovative products in a highly price competitive and rapidly changing technological environment; fluctuations in our manufacturing yields due to our complex and specialized manufacturing processes; delays or disruptions in production due to equipment maintenance, repairs and/or upgrades; our reliance on several key customers for a large percentage of our sales; fluctuations in the manufacturing yields of our third party semiconductor foundries and other problems or delays in the fabrication, assembly, testing or delivery of our products; the availability and pricing of third party semiconductor foundry, assembly and test capacity and raw materials; our ability to timely and accurately predict market requirements and evolving industry standards, and to identify opportunities in new markets; the timing, rescheduling or cancellation of significant customer orders and our ability, as well as the ability of our customers, to manage inventory; losses or curtailments of purchases or payments from key customers, or the timing of customer inventory adjustments; our ability to rapidly develop new products and avoid product obsolescence; our ability to retain, recruit and hire key executives, technical personnel and other employees in the positions and numbers, with the experience and capabilities, and at the compensation levels needed to implement our business and product plans; lengthy product development cycles that impact the timing of new product introductions; unfavorable changes in product mix; the quality of our products and any remediation costs; shorter than expected product life cycles; problems or delays that we may face in shifting our products to smaller geometry process technologies and in achieving higher levels of design integration; economic, social and political conditions in the countries in which we, our customers or our suppliers operate, including security and health risks, possible disruptions in transportation networks and fluctuations in foreign currency exchange rates; our ability to continue to grow and maintain an intellectual property portfolio and obtain needed licenses from third parties; and the uncertainties of litigation, including disputes over intellectual property, as well as other risks and uncertainties, including but not limited to those detailed from time to time in our filings with the Securities and Exchange Commission.
These forward-looking statements are made only as of the date hereof, and we undertake no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
Skyworks and Skyworks Solutions are trademarks or registered trademarks of Skyworks Solutions, Inc. or its subsidiaries in the United States and in other countries. All other brands and names listed are trademarks of their respective companies.
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