SI’s third quarter results

News

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.

Share this article:

Strengthening industry through strategic partnerships at KITE 2025
Specialised Exhibitions News
The KwaZulu-Natal Industrial Technology Exhibition is not just an exhibition, it is a powerhouse of industry collaboration where visitors and exhibitors gain access to authoritative insights, technical expertise, and high-impact networking opportunities.

Read more...

Solar Youth Project calls on industry to step up
News
With the second cohort completed training and the first cohort returning for their final module, host companies are urgently needed to turn the training into a long-term opportunity.

Read more...

Conlog powers SA’s future with national smart meter rollout
News
Conlog recently secured the RT29-2024 contract from National Treasury, which is seen to be a major milestone towards modernising SA’s utility infrastructure.

Read more...

Zuchongzhi-3 sets new benchmark
News
This latest superconducting quantum computing prototype features 105 qubits and 182 couplers to operate at a speed 10¹5 times faster than the most powerful supercomputer currently available.

Read more...

Automatic device attestation certificate for Panasonic
News
DigiCert recently announced it has partnered with Panasonic Industry Europe to integrate DigiCert Device Trust Manager with Panasonic’s PAN-MaX intelligent manufacturing service for seamless Matter certification of interoperable smart home devices.

Read more...

From the editor's desk: Are we really being ripped off?
Technews Publishing News
To the surprise of many customers, installing solar panels does not always eliminate their utility bill – and in some cases, the power utility may impose additional charges on solar-powered homes.

Read more...

Winner of the Advanced Electronics Challenge
Avnet Silica News
Avnet Silica has named Hydronauten winner of the Advanced Electronics Challenge for breakthrough AI-driven vibration damping technology.

Read more...

Categories

News

SI’s third quarter results

Further reading:

Publications by Technews