Silicon Labs Q4 Earnings Beat Estimates, Sees Strong Q1 Revenue Growth, Gross Margin Compression - Silicon Laboratories (NASDAQ:SLAB)

Silicon Labs Inc (NASDAQ: SLAB) revenue rose by 10.7% year-on-year to $242.9 million in the fourth quarter of FY20, exceeding estimates by $16.55 million. IoT revenue rose 15% to $147.4 million. Infrastructure and Automotive revenue rose 4% to $95.5 million.
The EPS stood at $0.84, beating analyst estimates by $0.11.
Cash and cash equivalents stood at $202.72 million, and operating cash flow stood at $135.72 million.
The revenue outlook for the first quarter of FY21 lies between $237 and $247 million, over the analyst consensus of $220.8 million.
EPS outlook stands between $0.70 and $0.80, above the consensus estimate of $0.67.
Non-GAAP gross margin for the fourth quarter ended slightly below expectations at 58.6%. The company is readjusting the model on gross margin to a range of 58% to 60% from 59% to 61% earlier, due to the industry-wide supply chain situation.
Price action: SLAB shares are trading lower by 2.85% at $134.82 on the last check Wednesday.