Silicon Laboratories Inc. Condensed Consolidated Statements of Cash Flows (In thousands) (Unaudited) | |||
| |||
| Three Months Ended | ||
| March 30,
|
| April 1,
|
Operating Activities |
|
|
|
Net income (loss) | $ (56,526) |
| $ 13,967 |
Adjustments to reconcile net income to net cash used in operating activities: |
|
|
|
Depreciation of property and equipment | 6,634 |
| 6,235 |
Amortization of other intangible assets | 6,079 |
| 6,510 |
Amortization of debt issuance costs | — |
| 523 |
Loss on extinguishment of convertible debt | — |
| — |
Stock-based compensation expense | 13,612 |
| 16,638 |
Equity-method loss | — |
| 1,033 |
Deferred income taxes | (5,270) |
| (2,670) |
Changes in operating assets and liabilities: |
|
|
|
Accounts receivable | (3,321) |
| (16,257) |
Inventories | (3,958) |
| (32,794) |
Prepaid expenses and other assets | (15,466) |
| 11,530 |
Accounts payable | (13,829) |
| (12,966) |
Other current liabilities and income taxes | 1,554 |
| (8,529) |
Deferred revenue and returns liability | 1,804 |
| 4,478 |
Other non-current liabilities | (3,113) |
| (978) |
Net cash used in operating activities | (71,800) |
| (13,280) |
|
|
|
|
Investing Activities |
|
|
|
Purchases of marketable securities | (9,794) |
| (66,113) |
Sales of marketable securities | 25,763 |
| 170,317 |
Maturities of marketable securities | 55,188 |
| 157,734 |
Purchases of property and equipment | (2,047) |
| (7,657) |
Proceeds from sale of equity investment | 12,382 |
| — |
Net cash provided by investing activities | 81,492 |
| 254,281 |
|
|
|
|
Financing Activities |
|
|
|
Payments on debt | (45,000) |
| — |
Repurchases of common stock | — |
| (17,608) |
Payment of taxes withheld for vested stock awards | (1,048) |
| (6,931) |
Proceeds from the issuance of common stock | 341 |
| — |
Net cash used in financing activities | (45,707) |
| (24,539) |
|
|
|
|
Increase (decrease) in cash and cash equivalents | (36,015) |
| 216,462 |
Cash and cash equivalents at beginning of period | 227,504 |
| 499,915 |
Cash and cash equivalents at end of period | $ 191,489 |
| $ 716,377 |
Silicon Labs Reports First Quarter 2024 Results
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