AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — Silicon Laboratories Inc. (SLAB) on Wednesday reported a loss of $56.5 million in its first quarter.
The Austin, Texas-based company said it had a loss of $1.77 per share. Losses, adjusted for stock option expense and pretax expenses, were 92 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 98 cents per share.
The chipmaker posted revenue of $106.4 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $104.4 million.
For the current quarter ending in June, Silicon Labs expects its results to range from a loss of 70 cents per share to a loss of 58 cents per share.
The company said it expects revenue in the range of $135 million to $145 million for the fiscal second quarter.
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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
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