Silicon Labs Announces Third Quarter 2018 Results

 

Unaudited Forward-Looking Statements Regarding Business Outlook

(In millions, except per share data)


Business Outlook


Three Months Ending

December 29, 2018



GAAP

Measure


Non-GAAP

Adjustments


Non-GAAP

Measure

Gross margin


60.0%


0.0% - 0.5%


60.0% - 60.5%








Operating expenses


$111


$23


$88








Effective tax rate


10.0%


3.0%


13.0%








Diluted earnings per share - low


$0.39


$0.52


$0.91








Diluted earnings per share - high


$0.45


$0.52


$0.97

 

Silicon Laboratories Inc.

Condensed Consolidated Balance Sheets

(In thousands, except per share data)

(Unaudited)



September 29,
2018


December 30,
2017

Assets




Current assets:




   Cash and cash equivalents

$   225,326


$   269,366

   Short-term investments

376,603


494,657

   Accounts receivable, net

74,607


71,367

   Inventories

77,563


73,132

   Prepaid expenses and other current assets

46,952


39,120

Total current assets

801,051


947,642

Property and equipment, net

135,566


127,682

Goodwill

396,689


288,227

Other intangible assets, net

181,611


83,144

Other assets, net

89,372


88,387

Total assets

$1,604,289


$1,535,082





Liabilities and Stockholders' Equity




Current liabilities:




   Accounts payable

$     43,647


$     38,851

   Deferred revenue and returns liability

25,880


--

   Deferred income on shipments to distributors

--


50,115

   Other current liabilities

77,821


73,359

Total current liabilities

147,348


162,325

Convertible debt

351,457


341,879

Other non-current liabilities

57,777


77,862

Total liabilities

556,582


582,066

Commitments and contingencies




Stockholders' equity:




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

      shares issued

--


--

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

      43,147 and 42,707 shares issued and outstanding at

      September 29, 2018 and December 30, 2017, respectively

4


4

   Additional paid-in capital

103,169


102,862

   Retained earnings

946,201


851,307

   Accumulated other comprehensive loss

(1,667)


(1,157)

Total stockholders' equity

1,047,707


953,016

Total liabilities and stockholders' equity

$1,604,289


$1,535,082


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