Silicon Labs reports record 2013 revenues

Jan 30, 2014
Austin American Statesman

Austin’s Silicon Laboratories Inc. reported record 2013 revenues on Wednesday, although the company’s fourth-quarter revenues dipped from the previous year

The chipmaker reported $146.2 million in fourth-quarter revenues, down from $152.5 million the previous year. But revenue for fiscal 2013 was a record $580.1 million, up from $563.3 million in 2012

CEO Tyson Tuttle said the company’s microcontroller and wireless products delivered record revenues in the quarter

Silicon Labs reported a profit of $10.6 million, or 25 cents a share, on revenue of $146.2 million for the quarter ended Dec. 28. That compared with a profit of $18.7 million, or 45 cents a share, on revenue of $152.5 million for the same quarter last year

Still, those fourth-quarter revenues beat analysts’ expectations of $142.9 million and the company’s stock jumped. Silicon Labs’ shares ended the day up 7.25 percent, or $3.21, to $46.16

Tuttle said the fourth-quarter dip in revenues was due to lingering revenues in 2012 from the company’s cell phone-related chip business, which it sold to NXP Semiconductors for $285 million

Silicon Labs is seeing strength in the TV market – where it supplies advanced tuner chips for digital TVs to companies like LG and Samsung – as well as the Internet of Things, where the company’s microcontroller, wireless and sensor products have gained traction

“I’m quite optimistic about the markets that we’re in, that we’re going to be able to continue to grow,” Tuttle said. “Now that we don’t have exposure to the PC and handset markets, I think that lends a degree of stability and more consistent growth to the company. So I think the positioning is really good.”

The company employs about 1,100 people worldwide, with just over half of them in Austin

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