Silicon Laboratories Inc. Q2 Profit Decreases, but beats estimates

(RTTNews) - Silicon Laboratories Inc. (SLAB) announced a profit for second quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $10.956 million, or $0.33 per share. This compares with $22.135 million, or $0.60 per share, in last year's second quarter.

Excluding items, Silicon Laboratories Inc. reported adjusted earnings of $34.259 million or $1.04 per share for the period.

Analysts on average had expected the company to earn $1.03 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.9% to $244.866 million from $263.150 million last year.

Silicon Laboratories Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $10.956 Mln. vs. $22.135 Mln. last year. -EPS (Q2): $0.33 vs. $0.60 last year. -Analyst Estimates: $1.03 -Revenue (Q2): $244.866 Mln vs. $263.150 Mln last year.

-Guidance: Next quarter EPS guidance: $0.45 to $0.73 Next quarter revenue guidance: $190 to $210 Mln