Silicon Labs Q2 Profit Meets Estimate; Revenue Falls Short

(RTTNews) - Silicon Laboratories Inc. (SLAB) reported net income for the second quarter of $12.6 million or $0.29 per share, compared to $20.5 million or $0.47 per share for the year-ago quarter.

Excluding items, adjusted earnings for the latest quarter were $0.50 per share

Revenue for the second quarter rose 4.3% to $141.54 million from $135.67 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.50 per share on revenue of $143.61 million for the second quarter. Analysts' estimates typically exclude special items.

Looking forward, the company forecasts third quarter revenue to be in the range of $144 to $149 million. Analysts currently expect the company to post revenue of $152.21 million for the third quarter.