Silicon Labs Announces Record Quarterly Revenue

 

Silicon Laboratories Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)



Three Months Ended


April 3,
2021


April 4,
2020


Operating Activities





Net income

$  13,509


$    2,244


Adjustments to reconcile net income to net cash provided by operating activities:





   Depreciation of property and equipment

4,529


4,183


   Amortization of other intangible assets and other assets

11,705


9,827


   Amortization of debt discount and debt issuance costs 

6,456


3,736


   Loss on extinguishment of convertible debt

3,370


--


   Stock-based compensation expense

13,826


15,313


   Deferred income taxes

(3,197)


(2,364)


   Changes in operating assets and liabilities:





      Accounts receivable

(8,530)


1,542


      Inventories

(12,626)


4,777


      Prepaid expenses and other assets

(13,621)


23,576


      Accounts payable

14,116


2,748


      Other current liabilities and income taxes

(13,429)


(9,134)


      Deferred revenue and returns liability

464


4,114


      Other non-current liabilities

(2,066)


(862)


Net cash provided by operating activities

14,506


59,700







Investing Activities





Purchases of available-for-sale investments

(8,251)


(70,910)


Sales and maturities of available-for-sale investments

161,392


126,920


Purchases of property and equipment

(6,176)


(4,135)


Purchases of other assets

(578)


(370)


Net cash provided by investing activities

146,387


51,505







Financing Activities





Proceeds from revolving line of credit

--


310,000


Payments on debt

(140,572)


--


Repurchases of common stock

--


(16,287)


Payment of taxes withheld for vested stock awards

(17,817)


(16,294)


Net cash provided by (used in) financing activities

(158,389)


277,419







Increase in cash and cash equivalents

2,504


388,624


Cash and cash equivalents at beginning of period

202,720


227,146


Cash and cash equivalents at end of period

$205,224


$615,770



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