AP NEWS

Silicon Labs: 3Q Earnings Snapshot

October 23, 2019

AUSTIN, Texas (AP) _ Silicon Laboratories Inc. (SLAB) on Wednesday reported third-quarter profit of $20.2 million.

On a per-share basis, the Austin, Texas-based company said it had profit of 45 cents. Earnings, adjusted for one-time gains and costs, came to 96 cents per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.

The chipmaker posted revenue of $223.3 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $217.9 million.

For the current quarter ending in December, Silicon Labs expects its per-share earnings to range from 84 cents to 94 cents.

The company said it expects revenue in the range of $217 million to $227 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $221.1 million.

Silicon Labs shares have risen 36% since the beginning of the year. The stock has increased 29% in the last 12 months.

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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