Silicon Laboratories Reports Q4 and Fiscal 2001 Results

January 22, 2002 by Jeff Shepard

Silicon Laboratories Inc. (Austin, TX) reported its fourth-quarter and full-year results for the period ended December 29, 2001. Fourth-quarter revenues rose sequentially 19 percent to $23.6 million from $19.9 million in the third quarter. Excluding the non-cash charge relating to deferred stock compensation, adjusted net income was $1.7 million in the fourth quarter and adjusted diluted earnings per share were $0.03.

Revenues for the full year 2001 decreased to $74.1 million from $103.1 million reported at the end of 2000. Adjusted net loss, excluding certain non-cash charges, was $1.2 million for 2001, compared to adjusted net income of $21.5 million for fiscal year 2000. Adjusted loss per share, excluding the non-cash charges, for the full year 2001 was $0.03, a decrease from the $0.44 per share earned in the comparable annual period in 2000.

During the year, Silicon Laboratories took a one-time, non-cash charge of $34.9 million to reduce the value of goodwill and other intangible assets. Net loss, including these charges was $45.6 million for the full year 2001. Net income for the full year 2000, including non-cash charges was $14.0 million.