RTTNews | Oct 27, 2021 09:09AM EDT

09:08 Wednesday, October 27, 2021 (RTTNews.com) - While reporting financial results for the third quarter on Wednesday, wireless technology firm Silicon Labs Inc. (SLAB) provided earnings and revenue guidance for the fourth quarter, well above analysts' expectations.

For the fourth quarter, the company expects loss in a range of $0.41 to $0.31 per share and adjusted earnings in a range of $0.50 to $0.60 per share on revenues between $195 million and $205 million.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.19 per share on revenues of $179.83 million for the quarter. Analysts' estimates typically exclude special items.

In connection with its previously announced $400 million share repurchase authorization, the company intends to enter into an accelerated share repurchase (ASR) agreement with an investment bank under which it will repurchase $400 million of its common stock on terms to be negotiated, subject to customary adjustments. The final settlement of the ASR is expected to be completed in the first quarter of 2022.

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