Silicon Labs (SLAB) Tops Q4 EPS by 11c, Revenues Beat; Offers 1Q EPS/Revenue Guidance Above Consensus

February 3, 2021 7:12 AM EST
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Price: $142.53 --0%

Revenue Growth %: +12.7%

Financial Fact:
Revenues: 178.08M

Today's EPS Names:
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Silicon Labs (NASDAQ: SLAB) reported Q4 EPS of $0.84, $0.11 better than the analyst estimate of $0.73. Revenue for the quarter came in at $242.9 million versus the consensus estimate of $226.35 million.

On a non-GAAP basis, excluding the impact of stock compensation, amortization of acquired intangible assets, restructuring charges, non-cash interest expense and other costs associated with convertible notes, and certain other items as set forth in the reconciliation tables below:

  • Non-GAAP gross margin was 58.6%.
  • Non-GAAP R&D expenses were $58 million.
  • Non-GAAP SG&A expenses were $39 million.
  • Non-GAAP operating income as a percentage of revenue was 18.7%.
  • Non-GAAP diluted earnings per share were $0.84.

"Fourth quarter revenue set a record at $242.9 million resulting in 10% sequential growth and full year revenue grew 6% over 2019," said Tyson Tuttle, CEO of Silicon Labs. "Our IoT products led the way with a second consecutive quarter of record revenue. We exited the year with momentum, and we are looking forward to an even stronger 2021."

GUIDANCE:

Silicon Labs sees Q1 2021 EPS of $0.70-$0.80, versus the consensus of $0.67. Silicon Labs sees Q1 2021 revenue of $237-247 million, versus the consensus of $220.8 million.

The company expects first quarter revenue to be in the range of $237 to $247 million, with both IoT and Infrastructure & Automotive approximately flat to fourth quarter, and estimates the following:

On a non-GAAP basis, excluding the impact of stock compensation, amortization of acquired intangible assets, acquisition related charges, restructuring charges, non-cash interest expense and other costs associated with convertible notes, and certain other items as set forth in the reconciliation tables below:

  • Non-GAAP gross margin at approximately 58.2%.
  • Non-GAAP operating expenses at approximately $100 million.
  • Non-GAAP effective tax rate at 13.0%.
  • Non-GAAP diluted earnings per share between $0.70 and $0.80.

For earnings history and earnings-related data on Silicon Labs (SLAB) click here.



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