Silicon Labs Announces First Quarter 2017 Results

 

Unaudited Forward-Looking Statements Regarding Business Outlook

(In millions, except per share data)


Business Outlook


Three Months Ending

July 1, 2017



GAAP

Measure


Non-GAAP

Adjustments


Non-GAAP

Measure

Gross margin


58.8%


0.2%


59.0%








Operating expenses


$92


$18


$74 - $75








Effective tax rate


11.0%


0.5%


11.5%








Diluted earnings per share - low


$0.27


$0.41


$0.68








Diluted earnings per share - high


$0.33


$0.41


$0.74

 

Silicon Laboratories Inc.

Condensed Consolidated Balance Sheets

(In thousands, except per share data)

(Unaudited)



April 1,
2017


December 31,
2016

Assets




Current assets:




   Cash and cash equivalents

$   225,399


$   141,106

   Short-term investments

396,327


153,961

   Accounts receivable, net

75,852


74,401

   Inventories

61,308


59,578

   Prepaid expenses and other current assets

54,360


61,805

Total current assets

813,246


490,851

Long-term investments

5,257


5,196

Property and equipment, net

130,635


129,559

Goodwill

288,629


276,130

Other intangible assets, net

103,638


103,565

Other assets, net

58,021


76,543

Total assets

$1,399,426


$1,081,844





Liabilities and Stockholders' Equity




Current liabilities:




   Accounts payable

$     43,781


$     39,577

   Accrued expenses

47,416


50,100

   Deferred income on shipments to distributors

49,700


45,568

   Income taxes

4,396


4,450

Total current liabilities

145,293


139,695

Long-term debt

--


72,500

Convertible debt

332,502


--

Other non-current liabilities

42,797


42,691

Total liabilities

520,592


254,886

Commitments and contingencies




Stockholders' equity:




   Preferred stock – $0.0001 par value; 10,000 shares authorized; no

      shares issued and outstanding

--


--

   Common stock – $0.0001 par value; 250,000 shares authorized;  

      42,348 and 41,889  shares issued and outstanding at

      April 1, 2017 and December 31, 2016, respectively

4


4

   Additional paid-in capital

59,714


24,463

   Retained earnings

819,641


801,999

   Accumulated other comprehensive income (loss)

(525)


492

Total stockholders' equity

878,834


826,958

Total liabilities and stockholders' equity

$1,399,426


$1,081,844


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