AP NEWS

Silicon Labs: 4Q Earnings Snapshot

January 29, 2020 GMT

AUSTIN, Texas (AP) _ Silicon Laboratories Inc. (SLAB) on Wednesday reported fourth-quarter earnings of $9.7 million.

On a per-share basis, the Austin, Texas-based company said it had profit of 22 cents. Earnings, adjusted for one-time gains and costs, came to 84 cents per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 89 cents per share.

The chipmaker posted revenue of $219.4 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $222.1 million.

For the year, the company reported profit of $19.3 million, or 43 cents per share. Revenue was reported as $837.6 million.

For the current quarter ending in April, Silicon Labs expects its per-share earnings to range from 57 cents to 67 cents.

The company said it expects revenue in the range of $209 million to $219 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $214.7 million.

Silicon Labs shares have increased 2% since the beginning of the year. The stock has increased 29% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SLAB at https://www.zacks.com/ap/SLAB