Webcast and Conference Call

A conference call discussing the quarterly results will follow this press release at 7:30 a.m. Central time. An audio webcast will be available on Silicon Labs' website ( www.silabs.com) under Investor Relations. A replay will be available after the call at the same website listed above or by calling 1 (855) 859-2056 or (404) 537-3406 (international) and entering conference ID 83472104. The replay will be available through August 27, 2016.

About Silicon Labs

Silicon Labs (NASDAQ: SLAB) is a leading provider of silicon, software and solutions for the Internet of Things, Infrastructure, industrial automation, consumer and automotive markets. We solve the electronics industry’s toughest problems, providing customers with significant advantages in performance, energy savings, connectivity and design simplicity. Backed by our world-class engineering teams with strong software and mixed-signal design expertise, Silicon Labs empowers developers with the tools and technologies they need to advance quickly and easily from initial idea to final product. www.silabs.com

Forward-Looking Statements

This press release contains forward-looking statements based on Silicon Labs' current expectations. The words "believe," "estimate," "expect," "intend," "anticipate," "plan," "project," "will" and similar phrases as they relate to Silicon Labs are intended to identify such forward-looking statements. These forward-looking statements reflect the current views and assumptions of Silicon Labs and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Among the factors that could cause actual results to differ materially from those in the forward-looking statements are the following: risks that Silicon Labs may not be able to maintain its historical growth; quarterly fluctuations in revenues and operating results; difficulties developing new products that achieve market acceptance; dependence on a limited number of products and customers; intellectual property litigation risks; risks associated with acquisitions and divestitures; product liability risks; difficulties managing our distributors, manufacturers and subcontractors; inventory-related risks; difficulties managing international activities; risks that Silicon Labs may not be able to manage strains associated with its growth; credit risks associated with our accounts receivable; dependence on key personnel; stock price volatility; geographic concentration of manufacturers, assemblers, test service providers and customers in Asia that subjects Silicon Labs' business and results of operations to risks of natural disasters, epidemics, war and political unrest; debt-related risks; capital-raising risks; the competitive and cyclical nature of the semiconductor industry; average selling prices of products may decrease significantly and rapidly; information technology risks; cyber-attacks against our products and our networks; conflict mineral risks and other factors that are detailed in the SEC filings of Silicon Laboratories Inc. Silicon Labs disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. References in this press release to Silicon Labs shall mean Silicon Laboratories Inc.

Note to editors: Silicon Laboratories, Silicon Labs, the “S” symbol, and the Silicon Labs logo are trademarks of Silicon Laboratories Inc. All other product names noted herein may be trademarks of their respective holders.

Silicon Laboratories Inc.
Condensed Consolidated Statements of Income
(In thousands, except per share data)
(Unaudited)
				Three Months Ended										Six Months Ended
				July 2, 2016					July 4, 2015					July 2, 2016					July 4, 2015
Revenues				$	174,908				$	164,856				$	336,933				$	328,561
Cost of revenues					66,614					67,428					133,108					134,764
Gross margin					108,294					97,428					203,825					193,797
Operating expenses:
Research and development					51,635					47,465					100,681					94,322
Selling, general and administrative					39,045					40,960					78,682					83,260
Operating expenses					90,680					88,425					179,363					177,582
Operating income					17,614					9,003					24,462					16,215
Other income (expense):
Interest income					278					166					549					358
Interest expense					(641	)				(728	)				(1,296	)				(1,473	)
Other, net					18					90					(373	)				498
Income before income taxes					17,269					8,531					23,342					15,598
Provision for income taxes					1,710					956					1,975					1,645
Net income				$	15,559				$	7,575				$	21,367				$	13,953
Earnings per share:
Basic				$	0.37				$	0.18				$	0.51				$	0.33
Diluted				$	0.37				$	0.17				$	0.51				$	0.32
Weighted-average common shares outstanding:
Basic					41,775					42,823					41,702					42,617
Diluted					42,284					43,461					42,242					43,305

Unaudited Reconciliation of GAAP to Non-GAAP Financial Measures
(In thousands, except per share data)
Non-GAAP Income Statement Items				Three Months Ended July 2, 2016
				GAAP Measure				GAAP Percent of Revenue					Stock Compensation Expense				Intangible Asset Amortization				Termination Costs					Non- GAAP Measure				Non-GAAP Percent of Revenue
Revenues				$	174,908
Gross margin					108,294				61.9	%			$	269			$	389			$	--				$	108,952			62.3	%
Research and development					51,635				29.5	%				5,205				5,616				236					40,578			23.2	%
Selling, general and administrative					39,045				22.3	%				5,044				1,419				63					32,519			18.6	%
Operating income					17,614				10.1	%				10,518				7,424				299					35,855			20.5	%
Non-GAAP Earnings Per Share				Three Months Ended July 2, 2016
				GAAP Measure				Stock Compensation Expense*					Intangible Asset Amortization*				Termination Costs*				Income Tax Adjustments					Non- GAAP Measure
Net income				$	15,559			$	10,518				$	7,424			$	299			$	(2,046	)			$	31,754
Diluted shares outstanding					42,284																						42,284
Diluted earnings per share				$	0.37																					$	0.75

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