SI’s third quarter results
22 November 2023
News
Silicon Labs recently released its Q3 2023 financial results, ending 30 September, which reported a solid revenue in the challenging electronics IoT market. Total revenue for the period was $204 million, being made up by Industrial and Commercial of $121 million, and Home and Life of $83 million.
GAAP gross margin was reported as 58,4%. R&D; expenses amounted to $79 million and SG&A; expenses came in at $28 million. The operating income as a percentage of revenue was 6%, with diluted earnings per share of $0,32.
“The Silicon Labs team executed well in the third quarter, driving revenue and EPS that exceeded the mid-point of our guidance,” said Matt Johnson, president and CEO at Silicon Labs. “The current demand environment remains quite weak as we navigate this cyclical inventory correction, and end market visibility continues to be challenging. That said, we are pleased with our record design win performance in the quarter and continued advancements in our industry-leading platform. We believe this positions us well for growth and higher earnings power when the market recovers.”
The company forecasts the fourth quarter revenue to be between $70 and $100 million.
Further reading:
From the Editor's desk: Growth through inclusivity
Technews Publishing
News
As the engineering fields in South Africa continue to make progress toward gender equality, we are finally starting to see the presence and contribution of women in engineering and industrial roles.
Read more...
KITE 2025 proves its value
News
The KwaZulu-Natal Industrial Technology Exhibition (KITE) 2025 confirmed its place as KwaZulu-Natal’s must-attend industrial event, drawing thousands of industry professionals.
Read more...
Otto Wireless Solutions announces promotion of Miyelani Kubayi to technical director
Otto Wireless Solutions
News
Otto Wireless Solutions is proud to announce the promotion of Miyelani Kubayi to the position of technical director, effective 1 August 2025.
Read more...
DMASS experiences continued slowdown
News
The European electronic components distribution market continued its downward trajectory in the second quarter of 2025, according to new figures released by DMASS.
Read more...
World-first zero second grid-to-backup power switch
News
JSE-listed cable manufacturer, South Ocean Electric Wire, has completed a solar installation it says marks a global first: a seamless switch from grid to backup power in zero seconds.
Read more...
News
OMC deploys cobots to improve throughput 10x, while maintaining quality and ensuring consistency of fibre optic production.
Read more...
Cobots for opto production line
News
OMC deploys cobots to improve throughput 10x, while maintaining quality and ensuring consistency of fibre optic production.
Read more...
SACEEC celebrates standout industrial innovation on the KITE 2025 show floor
News
Exhibitor innovation took the spotlight at the KITE 2025 as the South African Capital Equipment Export Council announced the winners of its prestigious New Product & Innovation Awards.
Read more...
SA team for International Olympiad in Informatics
News
The Institute of Information Technology Professionals South Africa has named the team that will represent South Africa at this year’s International Olympiad in Informatics.
Read more...
Anritsu and Bluetest to support OTA measurement
News
Anritsu Company and Sweden-based Bluetest AB have jointly developed an Over-The-Air measurement solution to evaluate the performance of 5G IoT devices compliant with the RedCap specification.
Read more...
printer friendly version