Silicon Labs Announces Record Revenue in Second Quarter 2017

 

Unaudited Forward-Looking Statements Regarding Business Outlook
(In millions, except per share data)


Business Outlook


Three Months Ending

September 30, 2017



GAAP

Measure


Non-GAAP

Adjustments


Non-GAAP

Measure

Gross margin


58.5%


0.0%


58.5%








Operating expenses


$92.5 - $93


$18


$74.5 - $75








Effective tax rate


11.0%


0.0%


11.0%








Diluted earnings per share - low


$0.35


$0.43


$0.78








Diluted earnings per share - high


$0.41


$0.43


$0.84

 

Silicon Laboratories Inc.
Condensed Consolidated Balance Sheets
(In thousands, except per share data)
(Unaudited)



July 1,
 2017


December 31,
2016

Assets




Current assets:




   Cash and cash equivalents

$   210,615


$   141,106

   Short-term investments

451,114


153,961

   Accounts receivable, net

75,488


74,401

   Inventories

67,427


59,578

   Prepaid expenses and other current assets

46,862


61,805

Total current assets

851,506


490,851

Long-term investments

5,379


5,196

Property and equipment, net

130,909


129,559

Goodwill

288,629


276,130

Other intangible assets, net

96,819


103,565

Other assets, net

61,085


76,543

Total assets

$1,434,327


$1,081,844





Liabilities and Stockholders' Equity




Current liabilities:




   Accounts payable

$     39,989


$     39,577

   Accrued expenses

50,797


50,100

   Deferred income on shipments to distributors

48,914


45,568

   Income taxes

3,543


4,450

Total current liabilities

143,243


139,695

Long-term debt

--


72,500

Convertible debt

335,639


--

Other non-current liabilities

43,240


42,691

Total liabilities

522,122


254,886

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;  

      42,539 and 41,889  shares issued and outstanding at

      July 1, 2017 and December 31, 2016, respectively

4


4

   Additional paid-in capital

76,409


24,463

   Retained earnings

836,210


801,999

   Accumulated other comprehensive income (loss)

(418)


492

Total stockholders' equity

912,205


826,958

Total liabilities and stockholders' equity

$1,434,327


$1,081,844


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