Silicon Laboratories Inc (SLAB) SEC Filing 10-Q Quarterly report for the period ending Saturday, September 29, 2018

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Silicon Laboratories Inc
Ticker: SLAB CIK: 1038074

Exhibit 99

Silicon Labs Announces Third Quarter 2018 Results

— Record Revenue in IoT and Infrastructure —

AUSTIN, Texas — Oct. 24, 2018 —

Silicon Labs (NASDAQ: SLAB), a leading provider of silicon, software and solutions for a smarter, more connected world, today reported financial results for its third quarter ended September 29, 2018. Revenue in the third quarter established a new, all-time record, exceeding the high end of guidance at $230.2 million, up from $217.1 million in the second quarter. Third quarter GAAP and non-GAAP diluted earnings per share (EPS) established eight-year record highs at $0.63 and $1.01, respectively.

“We are delighted to report outstanding third quarter 2018 financial performance, including 16 percent year-on-year revenue growth,” said Tyson Tuttle, CEO of Silicon Labs. “We saw sequential growth in all core business categories in Q3 and delivered record performance in IoT and Infrastructure. We have delivered target operating model performance in top line revenue growth, non-GAAP gross margin, non-GAAP opex and non-GAAP operating margin for the past five quarters.”

Third Quarter Financial Highlights

· IoT revenue increased to $125 million, up 8% sequentially and 25% year-on-year.

· Infrastructure revenue increased to $53 million, up 2% sequentially and 35% year-on-year.

· Broadcast revenue increased to $36 million, up 6% sequentially and down 16% year-on-year.

· Access revenue increased to $16 million, up 5% sequentially and down 4% year-on-year.

On a GAAP basis:

· GAAP gross margin was 58.9%

· GAAP R&D expenses were $61 million

· GAAP SG&A expenses were $49 million

· GAAP operating income as a percentage of revenue was 10.9%

· GAAP diluted earnings per share were $0.63

On a non-GAAP basis, excluding the impact of stock compensation, amortization of acquired intangible assets, non-cash interest expense on convertible notes, and certain other items as set forth in the reconciliation tables below:

· Non-GAAP gross margin was 60.8%

The following information was filed by Silicon Laboratories Inc (SLAB) on Wednesday, October 24, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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