Silicon Laboratories Reports Record Revenues

Silicon Laboratories (Austin, TX), a leading supplier of analog and mixed-signal integrated circuits (ICs) for wired and wireless communications applications, recorded record revenue of $126.1 million for the second quarter of 2004. The company's thirteenth consecutive quarter of revenue growth marked an 11 percent jump from the $113.6 million in the first quarter of 2004, and an 83-percent increase in revenue growth compared to the second quarter of 2003.

Under generally accepted accounting principles (GAAP), operating income for the second quarter was $32.9 million, or 26.1 percent of revenues. Second-quarter net income was $22.8 million, resulting in diluted net income per share of $0.41. Excluding noncash charges for amortization of deferred stock compensation, adjusted net income for the second quarter was $24 million, representing 19 percent of revenue. Adjusted diluted net income per share was $0.43, up 13 percent from the first quarter. The company ended the quarter with a highly liquid balance sheet, increasing cash and short-term investments to $223 million.

According to Dan Artusi, president and Chief Executive Officer (CEO) of Silicon Laboratories, "we have executed across the organization - in R&D, sales, marketing and manufacturing to enable rapid growth, product diversification and market expansion." The company's growth was strong in both broad-based mixed-signal and mobile handset businesses. Artusi notes that "we expect momentum behind the broad-based mixed-signal business to continue in the third quarter, coupled with a sequential decrease in revenue in our mobile handset business." The company is anticipating revenues between $120 and $123.6 million in the third quarter of 2004.

Silicon Labs at

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