AUSTIN, Texas (AP) _ Silicon Laboratories Inc. (SLAB) on Wednesday reported first-quarter net income of $5.4 million.
The Austin, Texas-based company said it had net income of 12 cents per share. Earnings, adjusted for one-time gains and costs, were 59 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The chipmaker posted revenue of $188.1 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $188 million.
For the current quarter ending in July, Silicon Labs expects its per-share earnings to range from 70 cents to 80 cents.
The company said it expects revenue in the range of $202 million to $212 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $202 million.
Silicon Labs shares have risen 19 percent since the beginning of the year. The stock has increased roughly 7 percent 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