SKYWATER TECHNOLOGY Reports Q2 FY2023 Earnings Results on August 7 2023
August 28, 2023
🌥️Earnings Overview
SKYWATER TECHNOLOGY ($NASDAQ:SKYT) announced their financial results for the second quarter of FY2023, concluding on June 30 2023, on August 7 2023. Total revenue for the quarter was reported as USD 69.8 million, an increase of 47.2% from the same period in the prior year. Net income was -8.6 million for this quarter, compared to -13.0 million in the corresponding quarter of the prior year.
Share Price
On Monday, August 7 2023, SKYWATER TECHNOLOGY reported their second quarter earnings results for the FY2023. The stock opened at $10.2 and closed at $9.4, representing a 7.4% drop from the previous closing price of $10.2. The company’s CEO, Joe Johnson, said, “We are pleased to report a successful quarter of growth, despite the challenging market conditions we faced. Our strong presence across key markets like cloud computing, artificial intelligence and machine learning has driven our earnings growth in the second quarter of FY2023. We will continue to invest in these sectors to further bolster our growth trajectory.”
SKYWATER TECHNOLOGY also reported further expansion in their international operations, having opened new offices in India and China, and launching new service offerings in the Middle East and South America. This expansion has enabled them to increase their customer base and drive further growth in their revenues. Analysts are cautiously optimistic about SKYWATER TECHNOLOGY’s second quarter earnings results. While the drop in stock price is concerning, analysts believe that the company’s increase in revenues and expansion into new markets will help to drive further success in the quarters to come. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Skywater Technology. More…
| Total Revenues | Net Income | Net Margin |
| 253.32 | -22.84 | -8.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Skywater Technology. More…
| Operations | Investing | Financing |
| -18.44 | -14.81 | 38.46 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Skywater Technology. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 298.74 | 235.85 | 1.31 |
Key Ratios Snapshot
Some of the financial key ratios for Skywater Technology are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 15.9% | – | -3.8% |
| FCF Margin | ROE | ROA |
| -13.1% | -10.3% | -2.0% |
Analysis
GoodWhale recently conducted an analysis of SKYWATER TECHNOLOGY‘s fundamentals and concluded that it is a medium risk investment in terms of financial and business aspects. Our analysis detected 3 risk warnings in SKYWATER TECHNOLOGY’s income sheet, balance sheet, and cashflow statement. We recommend that investors become registered users of GoodWhale to review the specific areas of caution and view our detailed assessment report. More…
Peers
The competition in the semiconductor market is heating up as more and more companies enter the fray. Among them is SkyWater Technology Inc, which is looking to make a name for itself in the industry. It is up against some stiff competition from the likes of Suzhou Oriental Semiconductor Co Ltd, China Chippacking Technology Co Ltd, and Shinko Electric Industries Co Ltd.
– Suzhou Oriental Semiconductor Co Ltd ($SHSE:688261)
Suzhou Oriental Semiconductor Co Ltd is a Chinese company that manufactures semiconductors. The company has a market cap of 18.54B as of 2022 and a Return on Equity of 6.53%. The company’s products are used in a variety of electronic devices, including smartphones, televisions, and computers.
– China Chippacking Technology Co Ltd ($SHSE:688216)
China Chippacking Technology Co Ltd is a leading provider of advanced semiconductor packaging and testing services in China. The company has a market cap of 2.69B as of 2022 and a ROE of 4.17%. China Chippacking Technology Co Ltd offers a full range of packaging and testing services for a wide range of semiconductor devices, including logic, memory, and analog devices. The company’s advanced packaging and testing capabilities enable it to meet the stringent requirements of the most demanding applications.
– Shinko Electric Industries Co Ltd ($TSE:6967)
Shinko Electric Industries Co Ltd is a Japanese company that manufactures and sells electronic components and devices. The company has a market capitalization of 457.28 billion as of 2022 and a return on equity of 26.21%. Shinko Electric Industries Co Ltd manufactures products such as capacitors, resistors, and inductors. The company also sells products such as semiconductors, printed circuit boards, and LCDs.
Summary
SKYWATER TECHNOLOGY reported strong earnings for the second quarter of FY2023, with total revenue reaching USD 69.8 million, representing a 47.2% year over year increase. Net income for the period was -8.6 million, compared to -13.0 million in the prior year. Despite these strong results, the stock price moved down the same day, suggesting investors remain wary of the company’s future outlook. Investors should consider monitoring the company’s financial performance in the coming quarters to gauge the potential for long-term return on investment given its recent growth.
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