Unaudited Forward-Looking Statements Regarding Business Outlook | ||||||
(In millions, except per share data) | ||||||
|
| ||||||
Business Outlook |
| Three Months Ending July 3, 2021 | ||||
|
|
| GAAP Measure |
| Non-GAAP Adjustments* |
| Non-GAAP Measure |
Gross margin |
| 57-58% |
| 0% |
| 57-58% |
|
|
|
|
|
|
|
|
Operating expenses |
| $130 |
| $26 |
| $104 |
|
|
|
|
|
|
|
|
Effective tax rate |
| 7% |
| 4.5% |
| 11.5% |
|
|
|
|
|
|
|
|
Diluted earnings per share - low |
| $0.28 |
| $0.60 |
| $0.88 |
|
|
|
|
|
|
|
|
Diluted earnings per share - high |
| $0.38 |
| $0.60 |
| $0.98 |
|
|
* Non-GAAP adjustments include the following estimates: stock compensation expense of $14 million, intangible asset amortization of $12 million, interest expense adjustments of $5 million, and the associated tax impact from the aforementioned items. |
Silicon Laboratories Inc. | |||
Condensed Consolidated Balance Sheets | |||
(In thousands, except per share data) | |||
(Unaudited) | |||
|
| |||
|
| April 3,
|
| January 2,
|
Assets |
|
|
|
Current assets: |
|
|
|
Cash and cash equivalents | $ 205,224 |
| $ 202,720 |
Short-term investments | 367,708 |
| 521,963 |
Accounts receivable, net | 103,699 |
| 95,169 |
Inventories | 79,244 |
| 66,662 |
Prepaid expenses and other current assets | 105,056 |
| 89,307 |
Total current assets | 860,931 |
| 975,821 |
Property and equipment, net | 141,000 |
| 139,439 |
Goodwill | 631,932 |
| 631,932 |
Other intangible assets, net | 154,379 |
| 166,084 |
Other assets, net | 82,381 |
| 80,211 |
Total assets | $1,870,623 |
| $1,993,487 |
|
|
|
|
|
Liabilities and Stockholders' Equity |
|
|
|
Current liabilities: |
|
|
|
| Accounts payable | $ 68,998 |
| $ 54,949 |
| Current portion of convertible debt, net | -- |
| 134,480 |
| Deferred revenue and returns liability | 13,450 |
| 12,986 |
| Other current liabilities | 68,351 |
| 82,083 |
| Total current liabilities | 150,799 |
| 284,498 |
| Convertible debt, net | 434,288 |
| 428,945 |
| Other non-current liabilities | 78,557 |
| 80,203 |
| Total liabilities | 663,644 |
| 793,646 |
| 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; 44,749 and 43,925 shares issued and outstanding at April 3, 2021 and January 2, 2021, respectively | 4 |
| 4 |
| Additional paid-in capital | 199,576 |
| 204,359 |
| Retained earnings | 1,007,173 |
| 993,664 |
| Accumulated other comprehensive income | 226 |
| 1,814 |
| Total stockholders' equity | 1,206,979 |
| 1,199,841 |
| Total liabilities and stockholders' equity | $1,870,623 |
| $1,993,487 |
