Silicon Laboratories Reports First-Quarter Revenue Growth
Silicon Laboratories Inc. (Austin, TX) reported revenues of $105 million for the first quarter of 2005, a 10% increase over the fourth quarter. First-quarter, fully diluted GAAP earnings per share increased 29% sequentially to $0.31. GAAP operating income for the first quarter was $19.8 million dollars, or 19% of revenue.
Excluding a $753,000 non-cash charge for amortization of deferred stock compensation and a $1.4 million foreign government grant related to the company's 2004 research and development expenditures, adjusted operating income for the first quarter was $19.1 million dollars, representing 18% of revenue. The company ended the quarter with cash and short-term investments up $27 million to $304 million.
The company anticipates revenue of $105 to $108 million in the second quarter of 2005.