The company expects second quarter revenue to be in the range of $262 to $272 million, with IoT roughly flat to the first quarter, limited by supply, and Infrastructure & Automotive up, and estimates the following:

On a GAAP basis:

• GAAP gross margin between 57% and 58%
• GAAP operating expenses at approximately $130 million
• GAAP effective tax rate of 7%.
• GAAP diluted earnings per share between $0.28 and $0.38.

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 between 57% and 58%.
• Non-GAAP operating expenses at approximately $104 million.
• Non-GAAP effective tax rate at 11.5%.
• Non-GAAP diluted earnings per share between $0.88 and $0.98

Webcast and Conference Call        

A conference call discussing the quarterly results will follow this press release at 7:30 a.m. Central time. An audio webcast will be available on Silicon Labs' website ( www.silabs.com) under Investor Relations. A replay will be available after the call at the same website listed above or by calling 1 (877) 344-7529 (US) or (412) 317-0088 (International) and entering access code 10154019. The replay will be available through May 5, 2021.

About Silicon Labs

Silicon Labs (NASDAQ: SLAB) is a leading provider of silicon, software and solutions for a smarter, more connected world. Our award-winning technologies are shaping the future of the Internet of Things, Internet infrastructure, industrial automation, consumer and automotive markets. Our world-class engineering team creates products focused on performance, energy savings, connectivity and simplicity. silabs.com

Forward-Looking Statements

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