Silicon Labs: Q1 Earnings Snapshot
AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — Silicon Laboratories Inc. (SLAB) on Wednesday reported first-quarter profit of $14 million.
The Austin, Texas-based company said it had net income of 41 cents per share. Earnings, adjusted for one-time gains and costs, were $1.12 per share.
The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of $1.12 per share.
The chipmaker posted revenue of $246.8 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $248.1 million.
For the current quarter ending in June, Silicon Labs expects its per-share earnings to range from 98 cents to $1.08. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.05.
The company said it expects revenue in the range of $238 million to $248 million for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $276.2 million.
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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
