Silicon Labs beats Street 3Q forecasts

AUSTIN, Texas (AP) _ Silicon Laboratories Inc. (SLAB) on Wednesday reported third-quarter net income of $19.9 million.

On a per-share basis, the Austin, Texas-based company said it had profit of 46 cents. Earnings, adjusted for one-time gains and costs, came to 90 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.

The chipmaker posted revenue of $198.7 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $196.2 million.

For the current quarter ending in December, Silicon Labs expects its per-share earnings to range from 83 cents to 89 cents.

The company said it expects revenue in the range of $195 million to $201 million for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $197.2 million.

Silicon Labs shares have risen 36 percent since the beginning of the year. The stock has increased 49 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SLAB at https://www.zacks.com/ap/SLAB