Silicon Laboratories Inc. Q3 Loss Narrows

(RTTNews) - Silicon Laboratories Inc. (SLAB) reported Loss for third quarter of -$9.936 million

The company's earnings came in at -$9.936 million, or -$0.30 per share. This compares with -$28.504 million, or -$0.88 per share, last year.

The company's revenue for the period rose 23.8% to $205.999 million from $166.395 million last year.

Silicon Laboratories Inc. earnings at a glance (GAAP) :

-Earnings: -$9.936 Mln. vs. -$28.504 Mln. last year. -EPS: -$0.30 vs. -$0.88 last year. -Revenue: $205.999 Mln vs. $166.395 Mln last year.

Excluding items, however, the company’s third-quarter earnings beat Street view. For the third quarter, Silicon Laboratories reported an adjusted income of $10.674 million, or $0.32 per share. On average, 9 analysts polled had projected the firm to earn $0.31 per share for the quarter. Analysts’ estimates typically exclude special items.

Looking ahead, for the fourth quarter, the company expects its adjusted income better than Street view.

SLAB anticipates net income of negative $0.22 to positive $0.08 per share. The company, however, expects adjusted income of $0.40 to $0.70 per share, higher than analyst’ forecast of $0.39 per share.

For the final quarter, SLAB projects revenue of $200 million to $215 million, in line with Street view of $212.82 million.