Silicon Laboratories Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 29, 2012; Provides Earnings Guidance for the First Quarter of 2013
January 30, 2013 at 12:30 pm
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Silicon Laboratories Inc. announced unaudited consolidated earnings results for the fourth quarter and year ended December 29, 2012. For the quarter, the company reported revenues of $152,461,000 compared to $126,692,000 a year ago. Operating income was $25,302,000 compared to $15,223,000 a year ago. Income before income taxes was $24,364,000 compared to $15,779,000 a year ago. Net income was $18,695,000 compared to $12,805,000 a year ago. Diluted EPS was $0.44 compared to $0.29 a year ago. Non-GAAP operating income was $33,658,000. Non-GAAP net income was $25,938,000 or $0.61 per share.
For the year, the company reported revenues of $563,294,000 compared to $491,625,000 a year ago. Operating income was $85,675,000 compared to $50,074,000 a year ago. Income before income taxes was $86,348,000 compared to $52,340,000 a year ago. Net income was $63,548,000 compared to $35,472,000 a year ago. Diluted EPS was $1.47 compared to $0.79 a year ago. Non-GAAP operating income was $116,646,000. Non-GAAP net income was $93,080,000 or $2.16 per share. Net cash provided by operating activities was $97,050,000 compared to $88,742,000 a year ago. Purchases of property and equipment were $102,043,000 compared to $8,690,000 a year ago.
Silicon Laboratories Inc. provided revenue guidance for the first quarter of 2013. The company expects revenue for the first quarter to be down sequentially 4% to 8%. The company expect gross margin to be in the range of 60% to 61%. On a GAAP basis, the company is projecting earnings of $0.34 to $0.40. And on a non-GAAP basis, the company excepts earnings to be $0.51 to $0.57. The company expects a significant tax benefit in first quarter from the 2012 U.S. R&D tax credit catch-up, resulting in an unusually low tax rate in the low to mid single digits for first quarter and a reduced tax rate of about 17% for second quarter and beyond.
Silicon Laboratories Inc. is engaged in secure, intelligent wireless technology. The Companyâs integrated hardware and software platform, intuitive development tools, ecosystem, and support help customers build advanced industrial, commercial, home, and life applications. It enables developers to solve complex wireless challenges throughout the product lifecycle. Its platform, purpose-built for the Internet of Things (IoT), helps customers create secure, intelligent, connected devices. Its semiconductor devices leverage standard complementary metal oxide semiconductor (CMOS), a widely available process technology. It provides analog-intensive, mixed-signal solutions for use in a variety of electronic products in a range of applications for the IoT. It has built a wireless development platform and product portfolio for the IoT based on Bluetooth, sub-GHz technologies, Wi - SUN, Thread, Wi-Fi, Zigbee and Z-Wave. The Company offers wireless microcontrollers and sensor products.
Silicon Laboratories Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 29, 2012; Provides Earnings Guidance for the First Quarter of 2013