Silicon Labs Reports Fourth Quarter and Full Year 2022 Results

Note to editors: Silicon Laboratories, Silicon Labs, the "S" symbol, and the Silicon Labs logo are trademarks of Silicon Laboratories Inc. All other product names noted herein may be trademarks of their respective holders.                                                         

Silicon Laboratories Inc.


Condensed Consolidated Statements of Operations


(In thousands, except per share data)


(Unaudited)





Three Months Ended


Year Ended



December 31, 2022


January 1, 2022


December 31, 2022


January 1,
2022


Revenues

$   257,325


$   208,680


$    1,024,106


$   720,860


Cost of revenues

100,028


80,849


381,549


295,468


Gross profit

157,297


127,831


642,557


425,392


Operating expenses:









   Research and development

86,649


71,705


332,326


273,208


   Selling, general and administrative

46,573


53,487


190,971


185,022


Operating expenses

133,222


125,192


523,297


458,230


Operating income (loss)

24,075


2,639


119,260


(32,838)


Other income (expense):









   Interest income and other, net

4,299


2,595


13,915


5,696


   Interest expense

(1,849)


(6,628)


(6,723)


(31,033)


Income (loss) from continuing operations before income taxes

26,525


(1,394)


126,452


(58,175)


Provision for income taxes

1,579


884


38,450


13,427


Equity-method earnings

415


7,791


3,400


13,728


Income (loss) from continuing operations

25,361


5,513


91,402


(57,874)


Income (loss) from discontinued operations, net of income taxes

--


(8,611)


--


2,175,273











Net income (loss)

$   25,361


$   (3,098)


$     91,402


$  2,117,399











Basic earnings (loss) per share:









   Continuing operations

$       0.78


$        0.14


$         2.61


$           (1.35)


   Net income

$       0.78


$       (0.08)


$         2.61


$          49.44











Diluted earnings (loss) per share:









   Continuing operations

$       0.76


$        0.13


$         2.54


$          (1.35)


   Net income

$       0.76


$       (0.08)


$         2.54


$         47.78











Weighted-average common shares outstanding:









   Basic

32,542


38,965


35,086


42,830


   Diluted

33,265


41,031


36,042


44,315













Non-GAAP Financial Measurements

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