Silicon Labs Q2 Profit Rises; Sees Q3 Adj. EPS Below View - Quick Facts

(RTTNews) - Silicon Labs (SLAB) reported that its second-quarter net income was $14.28 million or $0.32 per share, up from $12.61 million or $0.29 per share in the same quarter last year.

Non-GAAP net income for the latest-quarter was $0.58. Analysts polled by Thomson Reuters expected the company to report earnings of $0.46 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter rose to $154.92 million from $141.54 million in the prior year quarter. Wall Street expected revenues of $149.02 million for the quarter.

The company expects revenue in the third quarter to be in the range of $153 million to $157 million and expects to establish another record in its Broad-based products. Third quarter earnings per share are expected to be between $0.18 and $0.24 on a GAAP basis and between $0.45 and $0.51 on a non-GAAP basis. Analysts expect the company to report earnings of $0.54 per share and revenues of $156.76 million for the quarter.