Business Context and Reporting Period
Company: Skyworks Solutions, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: July 16, 2013
Event: Authorization of a new common stock repurchase program.
Key Financial Metrics
This filing does not report revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on capital allocation decisions regarding share repurchases.
Material Changes
- New Authorization: The Board of Directors authorized the repurchase of up to $250 million of common stock.
- Program Expiration: The new program is valid until July 16, 2015.
- Replacement of Prior Program: This authorization replaces the previous $200 million program approved on November 8, 2012, which had $35.6 million of remaining authority.
- Funding Source: The Company expects to fund the repurchases using working capital.
Guidance, Outlook, and Risks
- Execution Flexibility: The timing and amount of repurchases will be determined by management based on market conditions and other factors.
- Discretion: The repurchase program may be suspended or discontinued at any time.
- Compliance: Repurchases will be conducted on the open market or in privately negotiated transactions in compliance with applicable securities laws.
Investor Verification Checklist
- Verify the total remaining authorization under the new $250 million program.
- Confirm the Company's current working capital position to assess funding capacity.
- Monitor subsequent filings for actual repurchase activity and volume.
- Review the expiration date of July 16, 2015, for potential program renewal or extension.