Silicon Labs Announces Fourth Quarter 2019 Results

 

Unaudited Forward-Looking Statements Regarding Business Outlook

(In millions, except per share data)


Business Outlook


Three Months Ending

April 4, 2020



GAAP

Measure


Non-GAAP

Adjustments


Non-GAAP

Measure

Gross margin


59.50%


0.25%


59.75%








Operating expenses


$127.0


$29.5


$97.5








Effective tax rate


0%


11.5%


11.5%








Diluted earnings (loss) per share - low


$(0.03)


$0.60


$0.57








Diluted earnings per share - high


$0.07


$0.60


$0.67

 

Silicon Laboratories Inc.

Condensed Consolidated Balance Sheets

(In thousands, except per share data)

(Unaudited)



December 28,
2019


December 29,
2018

Assets




Current assets:




   Cash and cash equivalents

$   227,146


$   197,043

   Short-term investments

498,825


416,779

   Accounts receivable, net

75,639


73,194

   Inventories

73,057


74,972

   Prepaid expenses and other current assets

69,192


64,650

Total current assets

943,859


826,638

Property and equipment, net

135,939


139,049

Goodwill

398,402


397,344

Other intangible assets, net

134,279


170,832

Other assets, net

62,374


90,491

Total assets

$1,674,853


$1,624,354





Liabilities and Stockholders' Equity




Current liabilities:




   Accounts payable

$     38,899


$     41,171

   Deferred revenue and returns liability

19,251


22,494

   Other current liabilities

79,551


81,180

Total current liabilities

137,701


144,845

Convertible debt

368,257


354,771

Other non-current liabilities

53,844


57,448

Total liabilities

559,802


557,064

Commitments and contingencies




Stockholders' equity:




   Preferred stock – $0.0001 par value; 10,000 shares authorized; no

      shares issued

--


--

   Common stock – $0.0001 par value; 250,000 shares authorized;  

      43,496 and 43,088 shares issued and outstanding at

      December 28, 2019 and December 29, 2018, respectively

4


4

   Additional paid-in capital

133,793


107,517

   Retained earnings

980,608


961,343

   Accumulated other comprehensive income (loss)

646


(1,574)

Total stockholders' equity

1,115,051


1,067,290

Total liabilities and stockholders' equity

$1,674,853


$1,624,354


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