Silicon Labs 4Q profit slips but beats forecasts

Chip maker Silicon Laboratories Inc. on Wednesday reported higher-than-expected profit as sales rose for video and touch controllers and other devices.

The company said net income was $12.8 million, or 29 cents per share. Excluding special items such as stock-based compensation expenses, the company said it would have earned 49 cents per share.

Analysts expected earnings excluding items would be 43 cents per share, according to FactSet.

The company's profit was down slightly from last year's fourth quarter, when it earned $12.9 million, or 28 cents per share.

Revenue rose 13 percent to $126.7 million, above analysts' forecast of $119.8 million.

For the current quarter ending in March, the company predicted revenue between $120 million and $125 million, or more than the $118.4 million average estimate by analysts.

The company's shares fell 30 cents to end Wednesday at $46.77.

businessCorporate newsnewsUS

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

Folks wave from the side of a Muni cable car as it heads down Powell Street after cable car service returns from a 16-month COVID absence on Monday, Aug. 2, 2021. (Kevin N. Hume/The Examiner)
San Francisco’s cable cars return after 16-month absence

San Francisco’s cable cars are back, and they’re free for passengers to… Continue reading

Blue California often is the target of criticism by conservative media, but now is receiving critical attention from liberal writers. Pictured: The State Capitol. (Photo by Anne Wernikoff for CalMatters)
Why is California now being criticized from the left?

California being what it is – a very large state with a… Continue reading

Tiffany Carter, owner of Boug Cali West Coast Creole Shack in San Francisco’s La Cocina Marketplace, was dismayed by gentrification she found when she returned to her hometown to start a business. (Kevin N. Hume/The Examiner)
SF Black Wallstreet: Helping residents build wealth, reclaim spaces they’ve had to leave

Tiffany Carter moved back to her hometown of San Francisco five years… Continue reading

Steven Buss, left, and Sachin Agarwal co-founded Grow SF, which plans to produce election voter guides offering a moderate agenda. (Kevin N. Hume/The Examiner)
Grow SF: New tech group aims to promote moderate ideals to political newcomers

Sachin Agarwal has lived in San Francisco for 15 years. But the… Continue reading

Most Read