Unaudited Forward-Looking Statements Regarding Business Outlook (In millions, except per share data) | ||||||
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Business Outlook |
| Three Months Ending July 2, 2022 | ||||
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| GAAP Measure |
| Non-GAAP Adjustments* |
| Non-GAAP Measure |
Gross margin |
| 60.9% |
| 0.1% |
| 61% |
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Operating expenses |
| $129 |
| $(22) |
| $107 |
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Effective tax rate |
| 33% |
| (7)% |
| 26% |
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Diluted earnings per share - low |
| $0.37 |
| $0.48 |
| $0.85 |
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Diluted earnings per share - high |
| $0.47 |
| $0.48 |
| $0.95 |
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* Non-GAAP adjustments include the following estimates: stock compensation expense of $13.9 million, intangible asset amortization of $8.8 million and the associated tax impact from the aforementioned items.
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Silicon Laboratories Inc. Condensed Consolidated Balance Sheets (In thousands, except per share data) (Unaudited) | |||
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|
| April 2,
|
| January 1,
|
Assets |
|
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Current assets: |
|
|
|
Cash and cash equivalents | $ 765,911 |
| $1,074,623 |
Short-term investments | 1,167,807 |
| 964,582 |
Accounts receivable, net | 79,233 |
| 98,313 |
Inventories | 55,515 |
| 49,307 |
Prepaid expenses and other current assets | 54,932 |
| 51,748 |
Total current assets | 2,123,398 |
| 2,238,573 |
| Property and equipment, net | 147,940 |
| 146,516 |
| Goodwill | 376,389 |
| 376,389 |
| Other intangible assets, net | 108,627 |
| 118,978 |
| Other assets, net | 87,408 |
| 77,839 |
| Total assets | $2,843,762 |
| $2,958,295 |
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| Liabilities and Stockholders' Equity |
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| Current liabilities: |
|
|
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| Accounts payable | $ 64,388 |
| $ 47,327 |
| Current portion of convertible debt, net | -- |
| 450,599 |
| Deferred revenue and returns liability | 21,640 |
| 13,849 |
| Other current liabilities | 160,180 |
| 157,052 |
| Total current liabilities | 246,208 |
| 668,827 |
| Convertible debt, net | 528,086 |
| -- |
| Other non-current liabilities | 61,813 |
| 77,044 |
| Total liabilities | 836,107 |
| 745,871 |
| Commitments and contingencies |
|
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| Stockholders' equity: |
|
|
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| Preferred stock – $0.0001 par value; 10,000 shares authorized; no shares issued | -- |
| -- |
| Common stock – $0.0001 par value; 250,000 shares authorized; 37,204 and 38,481 shares issued and outstanding at April 2, 2022 and January 1, 2022, respectively | 4 |
| 4 |
| Retained earnings | 2,018,117 |
| 2,214,839 |
| Accumulated other comprehensive loss | (10,466) |
| (2,419) |
| Total stockholders' equity | 2,007,655 |
| 2,212,424 |
| Total liabilities and stockholders' equity | $2,843,762 |
| $2,958,295 |
