Silicon Laboratories Inc. Reports Drop In Q3 Income, misses estimates

(RTTNews) - Silicon Laboratories Inc. (SLAB) reported earnings for third quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $20.999 million, or $0.60 per share. This compares with $2.087 billion, or $46.76 per share, in last year's third quarter.

Analysts on average had expected the company to earn $1.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 46.0% to $269.817 million from $184.831 million last year.

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

-Earnings (Q3): $20.999 Mln. vs. $2.087 Bln. last year. -EPS (Q3): $0.60 vs. $46.76 last year. -Analyst Estimates: $1.12 -Revenue (Q3): $269.817 Mln vs. $184.831 Mln last year.

-Guidance: Next quarter revenue guidance: $245 Mln to $255 Mln