Silicon Labs Q3 Earnings Fall; Sees Loss In Q4; Stock Down In Pre-market

(RTTNews) - Silicon Laboratories Inc. (SLAB), a semiconductor company, on Wednesday reported lower earnings on decreased revenue for the third quarter.

Further, the company said that it expects to slip to loss in the fourth quarter.

Quarterly profit decreased to $10.348 million, or $0.32 per share from $20.999 million or $0.60 per share same period last year.

Excluding items, earnings were $19.973 million or $0.62 per share.

On average, ten analysts polled by Thomson Reuters expected earnings of $0.61 per share for the year. Analysts' estimates typically exclude special items.

Revenue dropped to $203.76 million from $269.817 million in the prior year.

The Street estimate for revenue is $200.24 million.

Looking ahead, for the fourth quarter, the company expects net loss to be in the range of $2.39 to $1.95 per share and on an adjusted basis, a loss of $1.66-$1.22 per share.

In pre-market activity, Silicon Laboratories shares are trading at $69 down 25.15% on Nasdaq.