RTTNews | Feb 3, 2021 07:29AM EST

07:28 Wednesday, February 3, 2021 (RTTNews.com) - Silicon Laboratories Inc. (SLAB) on Wednesday reported net income for the fourth quarter of $8.95 million or $0.20 per share, down from $9.72 million or $0.22 per share in the year-ago period.

Adjusted earnings for the quarter were $0.84 per share.

Revenues for the quarter grew to $242.92 million from $219.44 million in the prior-year quarter.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.73 per share for the quarter on revenues of $226.35 million. Analysts' estimates typically exclude special items.

For the first quarter, Silicon Labs forecast reported earnings in a range of $0.05 to $0.15 per share, adjusted earnings in a range of $0.70 to $0.80 per share, and revenue in a range of $237 million to $247 million. The Street expects earnings of $0.67 per share for the quarter on revenues of $220.8 million.

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