Non-GAAP Financial Measurements
In addition to the GAAP results provided throughout this document, Silicon Labs has provided non-GAAP financial measurements on a basis excluding non-cash and other charges and benefits. Details of these excluded items are presented in the tables below, which reconcile the GAAP results to non-GAAP financial measurements.
The non-GAAP financial measurements do not replace the presentation of Silicon Labs' GAAP financial results. These measurements provide supplemental information to assist management and investors in analyzing Silicon Labs' financial position and results of operations. Silicon Labs has chosen to provide this information to investors to enable them to perform meaningful comparisons of past, present, and future operating results and as a means to emphasize the results of core on-going operations.
Unaudited Reconciliation of GAAP to Non-GAAP Financial Measures
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Non-GAAP Income Statement Items |
| Three Months Ended October 2, 2021 | |||||||||||||
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| GAAP Measure |
| GAAP Percent of
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| Stock Compensation
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| Intangible
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| Termination
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| Non-GAAP Measure |
| Non-GAAP Percent of
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Revenues |
| $184,831 |
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Gross profit |
| 109,509 |
| 59.2% |
|
| $260 |
| $ -- |
| $ -- |
| $109,769 |
| 59.4% |
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Research and development |
| 72,656 |
| 39.3% |
|
| 7,072 |
| 8,198 |
| -- |
| 57,386 |
| 31.0% |
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Selling, general and administrative |
| 46,128 |
| 24.9% |
|
| 6,963 |
| 2,871 |
| 626 |
| 35,668 |
| 19.3% |
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Operating income (loss) |
| (9,275) |
| (5.0)% |
|
| 14,295 |
| 11,069 |
| 626 |
| 16,715 |
| 9.0% |
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| Non-GAAP Earnings Per Share – Continuing Operations |
| Three Months Ended October 2, 2021 | ||||||||||||||
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| GAAP Measure |
| Stock
|
| Intangible
|
|
Termination
|
| Investment
|
| Interest Expense Adjustments* |
| Income Tax Adjustments |
| Non-
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| Income (loss) from continuing operations |
| $(19,740) |
| $14,295 |
| $11,069 |
| $626 |
| $(4,100) |
| $5,076 |
| $8,121 |
| $15,347 |
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| Dilutive Securities Excluded From GAAP Measure Due to Net Loss |
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| Diluted shares outstanding |
| 43,385 |
| 1,249 |
| 44,634 | ||||||||||
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| Diluted earnings (loss) per share |
| $ (0.45) |
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| $ 0.34 |
| Unaudited Forward-Looking Statements Regarding Business Outlook** (In millions, except per share data) | ||||||
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| Business Outlook |
| Three Months Ending January 1, 2022 | ||||
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| GAAP Measure |
| Non-GAAP Adjustments* |
| Non-GAAP Measure |
| Gross margin |
| 59% |
| 0.5% |
| 59.5% |
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| Operating expenses |
| $126 |
| $31 |
| $95 |
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| Effective tax rate |
| (14)% |
| 22% |
| 8% |
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| Diluted earnings (loss) per share - low |
| $ (0.41) |
| $ 0.91 |
| $ 0.50 |
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| Diluted earnings (loss) per share - high |
| $ (0.31) |
| $ 0.91 |
| $ 0.60 |
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| ** Non-GAAP adjustments include the following estimates: stock compensation expense of $20 million, intangible asset amortization of $11 million, interest expense adjustments of $5 million, termination costs of $1 million and the associated tax impact from the aforementioned items. |
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SOURCE Silicon Labs
| Contact: |
| Company Name: Silicon Labs
Austin Dean, Investor Relations Manager Phone: +1 (512) 532-9432 Email Contact Web: http://www.silabs.com Financial data for Silicon Labs |
