Silicon Laboratories Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2011; Provides Revenue Guidance for First Quarter of 2012
January 25, 2012 at 12:30 pm
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Silicon Laboratories Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company reported operating income of $15.233 million, income before income taxes of $15.779 million and net income of $12.805 million or $0.29 per diluted share on revenue of $126.692 million compared to operating income of $11.014 million, income before income taxes of $11.506 million and net income of $12.883 million or $0.28 per diluted share on revenue of $111.891 million a year ago. Non-GAAP net income was $21.384 million or $0.49 per diluted share.
For the year, the company reported operating income of $50.074 million, income before income taxes of $52.340 million and net income of $35.472 million or $0.79 per diluted share on revenue of $491.625 million compared to operating income of $86.671 million, income before income taxes of $87.659 million and net income of $73.242 million or $1.57 per diluted share on revenue of $493.341 million a year ago. Net cash provided by operating activities were $88.742 million compared to $117.935 million a year ago. Purchases of property and equipment were $8.690 million compared to $13.850 million a year ago.
The company expects revenue for the first quarter of 2012 to be in the range of $120 million to $125 million. The company expects tax rate to increase. The non-GAAP tax rate will be about 18% beginning in first quarter, which translates to a $0.02 EPS impact for the quarter. The company expects gross margin to sustain the current range. On a GAAP basis, the company projects earnings were $0.20 to $0.24. On a non-GAAP basis, excluding stock compensation expense, expects $0.38 to $0.42.
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. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2011; Provides Revenue Guidance for First Quarter of 2012