Unaudited Forward-Looking Statements Regarding Business Outlook | ||||||
(In millions, except per share data) | ||||||
|
| ||||||
Business Outlook |
| Three Months Ending October 1, 2022 | ||||
|
|
| GAAP Measure |
| Non-GAAP Adjustments* |
| Non-GAAP Measure |
Gross margin |
| 60 % |
| 0.5 % |
| 60.5 % |
|
|
|
|
|
|
|
|
Operating expenses |
| $137 |
| $(24) |
| $113 |
|
|
|
|
|
|
|
|
Effective tax rate |
| 36 % |
| (10) % |
| 26 % |
|
|
|
|
|
|
|
|
Diluted earnings per share - low |
| $0.49 |
| $0.59 |
| $1.08 |
|
|
|
|
|
|
|
|
Diluted earnings per share - high |
| $0.59 |
| $0.59 |
| $1.18 |
|
|
|
|
|
|
|
|
* Non-GAAP adjustments include the following estimates: stock compensation expense of $16.3 million, intangible asset amortization of $8.1 million and the associated tax impact from the aforementioned items.
| ||||||
Silicon Laboratories Inc. | |||
Condensed Consolidated Balance Sheets | |||
(In thousands, except per share data) | |||
(Unaudited) | |||
|
| |||
|
| July 2, 2022 |
| January 1,
|
Assets |
|
|
|
Current assets: |
|
|
|
Cash and cash equivalents | $ 504,850 |
| $1,074,623 |
Short-term investments | 972,845 |
| 964,582 |
Accounts receivable, net | 72,106 |
| 98,313 |
Inventories | 74,026 |
| 49,307 |
Prepaid expenses and other current assets | 86,138 |
| 51,748 |
Total current assets | 1,709,965 |
| 2,238,573 |
Property and equipment, net | 149,447 |
| 146,516 |
| Goodwill | 376,389 |
| 376,389 |
| Other intangible assets, net | 99,784 |
| 118,978 |
| Other assets, net | 83,813 |
| 77,839 |
| Total assets | $2,419,398 |
| $2,958,295 |
|
|
|
|
|
| Liabilities and Stockholders' Equity |
|
|
|
| Current liabilities: |
|
|
|
| Accounts payable | $ 95,365 |
| $ 47,327 |
| Current portion of convertible debt, net | -- |
| 450,599 |
| Deferred revenue and returns liability | 10,696 |
| 13,849 |
| Other current liabilities | 126,058 |
| 157,052 |
| Total current liabilities | 232,119 |
| 668,827 |
| Convertible debt, net | 528,564 |
| -- |
| Other non-current liabilities | 53,371 |
| 77,044 |
| Total liabilities | 814,054 |
| 745,871 |
| Commitments and contingencies |
|
|
|
| Stockholders' equity: |
|
|
|
| Preferred stock – $0.0001 par value; 10,000 shares authorized; no shares issued | -- |
| -- |
| Common stock – $0.0001 par value; 250,000 shares authorized; 34,223 and 38,481 shares issued and outstanding at July 2, 2022 and January 1, 2022, respectively | 3 |
| 4 |
| Retained earnings | 1,619,396 |
| 2,214,839 |
| Accumulated other comprehensive loss | (14,055) |
| (2,419) |
| Total stockholders' equity | 1,605,344 |
| 2,212,424 |
| Total liabilities and stockholders' equity | $2,419,398 |
| $2,958,295 |
