Silicon Labs Announces Record IoT Revenue for Third Quarter 2021

 

Non-GAAP Financial Measurements

In addition to the GAAP results provided throughout this document, Silicon Labs has provided non-GAAP financial measurements on a basis excluding non-cash and other charges and benefits.  Details of these excluded items are presented in the tables below, which reconcile the GAAP results to non-GAAP financial measurements.

The non-GAAP financial measurements do not replace the presentation of Silicon Labs' GAAP financial results.  These measurements provide supplemental information to assist management and investors in analyzing Silicon Labs' financial position and results of operations. Silicon Labs has chosen to provide this information to investors to enable them to perform meaningful comparisons of past, present, and future operating results and as a means to emphasize the results of core on-going operations.

Unaudited Reconciliation of GAAP to Non-GAAP Financial Measures
(In thousands, except per share data)


Non-GAAP Income Statement Items


Three Months Ended

October 2, 2021



GAAP

Measure


GAAP

Percent of
Revenue



Stock

Compensation
Expense


Intangible
Asset
Amortization


Termination
Costs


Non-GAAP

Measure


Non-GAAP

Percent of
Revenue

Revenues


$184,831






























Gross profit


109,509


59.2%



$260


$        --


$        --


$109,769


59.4%

















Research and development


72,656


39.3%



7,072


8,198


--


57,386


31.0%

















Selling, general and administrative


46,128


24.9%



6,963


2,871


626


35,668


19.3%

















Operating income (loss)


(9,275)


(5.0)%



14,295


11,069


626


16,715


9.0%

















Non-GAAP Earnings Per Share – Continuing Operations


Three Months Ended

October 2, 2021



GAAP

Measure


Stock
Compensation
Expense*


Intangible
Asset
Amortization*


 

Termination
Costs*


Investment
Fair Value
Adjustments*


Interest

Expense

Adjustments*


Income

Tax

Adjustments


Non-
GAAP
Measure

Income (loss) from continuing operations


$(19,740)


$14,295


$11,069


$626


$(4,100)


$5,076


$8,121


$15,347






















Dilutive Securities Excluded From GAAP Measure Due to Net Loss



Diluted shares outstanding


43,385


1,249


44,634


















Diluted earnings (loss) per share


$    (0.45)














$  0.34

 

Unaudited Forward-Looking Statements Regarding Business Outlook**

(In millions, except per share data)


Business Outlook


Three Months Ending

January 1, 2022



GAAP

Measure


Non-GAAP

Adjustments*


Non-GAAP

Measure

Gross margin


59%


0.5%


59.5%








Operating expenses


$126


$31


$95








Effective tax rate


(14)%


22%


8%








Diluted earnings (loss) per share - low


$ (0.41)


$ 0.91


$ 0.50








Diluted earnings (loss) per share - high


$ (0.31)


$ 0.91


$ 0.60









** Non-GAAP adjustments include the following estimates: stock compensation expense of $20 million, intangible asset amortization of $11 million, interest expense adjustments of $5 million, termination costs of $1 million and the associated tax impact from the aforementioned items.  

 

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SOURCE Silicon Labs

Contact:
Company Name: Silicon Labs
Austin Dean, Investor Relations Manager
Phone: +1 (512) 532-9432
Email Contact
Web: http://www.silabs.com
Financial data for Silicon Labs



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