AUSTIN, Texas (AP) — Silicon Laboratories Inc. (SLAB) on Wednesday reported fourth-quarter profit of $8.9 million.
On a per-share basis, the Austin, Texas-based company said it had profit of 20 cents. Earnings, adjusted for one-time gains and costs, came to 84 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.
The chipmaker posted revenue of $242.9 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $226.7 million.
For the year, the company reported profit of $12.5 million, or 28 cents per share. Revenue was reported as $886.7 million.
For the current quarter ending in April, Silicon Labs expects its per-share earnings to range from 70 cents to 80 cents.
The company said it expects revenue in the range of $237 million to $247 million for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $220.6 million.
Silicon Labs shares have climbed 9% since the beginning of the year. The stock has climbed 38% 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
