AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — Silicon Laboratories Inc. (SLAB) on Tuesday reported a loss of $30.5 million in its first quarter.
The Austin, Texas-based company said it had a loss of 94 cents per share. Losses, adjusted for stock option expense and amortization costs, came to 8 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.
The chipmaker posted revenue of $177.7 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $177.6 million.
For the current quarter ending in June, Silicon Labs expects its results to range from a loss of 1 cent per share to earnings of 19 cents per share.
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