SILICON LABORATORIES INC. (NASDAQ:SIMG) Files An 8-K Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition
On February1, 2017, Silicon Laboratories Inc. (Silicon
Laboratories) issued a press release describing its results of
operations for its fiscal quarter and year ended December31,
2016. A copy of the press release is attached as Exhibit99 to
this report.
Item 9.01. Financial Statements and Exhibits
(d)Exhibits.
|
Press Release of Silicon Laboratories Inc. dated February1, |
Use of Non-GAAP Financial Information
From time to time, Silicon Laboratories provides certain non-GAAP
financial measures as additional information relating to its
operating results. The non-GAAP financial measurements provided
in the press release furnished herewith do not replace the
presentation of Silicon Laboratories GAAP financial results.
These additional measurements merely provide supplemental
information to assist investors in analyzing Silicon Laboratories
financial position and results of operations; however, these
measures are not in accordance with, or an alternative to, GAAP
and may be different from non-GAAP measures used by other
companies.
Non-GAAP financial measures used by Silicon Laboratories include
non-GAAP gross margin, non-GAAP research and development,
non-GAAP selling, general and administrative, non-GAAP operating
income and non-GAAP diluted earnings per share. Silicon
Laboratories has chosen to provide this information to investors
because it believes that such supplemental information enables
them to perform meaningful comparisons of past, present and
future operating results, and as a means to highlight the results
of core ongoing operations.
Non-GAAP financial measures are adjusted by the exclusion of the
following items:
Stock compensation expense represents charges
for employee stock awards issued under Silicon Laboratories
stock-based compensation plans. Stock compensation expense is
excluded from non-GAAP financial measures because it is a
non-cash expense, and excluding such expense provides meaningful
supplemental information regarding core ongoing operations.
Intangible asset amortization primarily represents
charges for the amortization of intangibles assets, such as core
and developed technology, customer relationships and trademarks,
acquired in connection with business combinations. Intangible
asset amortization is excluded from non-GAAP financial measures
because it is a non-cash expense, and excluding such expense
provides meaningful supplemental information regarding core
ongoing operations.
Acquisition related items primarily include the
following: charges for the fair value write-up associated with
inventory acquired; adjustments to the fair value of
acquisition-related contingent consideration; and
acquisition-related costs to effect a business combination, such
as costs for attorneys, investment bankers, accountants and other
third party service providers. Acquisition related items are
excluded from non-GAAP financial measures because excluding such
amounts provides meaningful supplemental information regarding
core ongoing operations.
Termination costs and impairments primarily include
costs associated with certain employee terminations and asset
impairments. Termination costs and impairments are excluded from
non-GAAP financial measures because excluding such amounts
provides meaningful supplemental information regarding core
ongoing operations.
Income tax adjustments primarily include the
following: the current and deferred income tax effects of the
above non-GAAP adjustments; other indirect impacts of excluding
stock-based compensation; and the income tax impact of certain
intercompany license arrangements for technology acquired in
business combinations. Income tax adjustments are excluded from
non-GAAP financial measures because excluding such amounts
provides meaningful supplemental information regarding core
ongoing operations.
to the requirements of Regulation G, we have provided in the
press release furnished with this report a reconciliation of
the non-GAAP financial measures to the most directly comparable
GAAP financial measures.
The information in this report, including the exhibit hereto,
shall not be deemed to be filed for purposes of Section18 of
the Securities Exchange Act of 1934, as amended, or otherwise
subject to the liability of that section. The information
contained therein and in the accompanying exhibit shall not be
incorporated by reference into any filing with the U.S.
Securities and Exchange Commission made by Silicon
Laboratories, whether made before or after the date hereof,
regardless of any general incorporation language in such
filing.
About SILICON LABORATORIES INC. (NASDAQ:SIMG)
Silicon Image, Inc. is a provider of wired and wireless video, audio and data connectivity solutions for the mobile, consumer electronics and personal computer markets. The Company’s offerings include semiconductors and intellectual property. The Company also offers IP connectivity solutions for applications , such as Digital Rights Management provisioning, software management and remote support. The Company offers products under Mobile, CE, Wireless Fiber, PC, Simplay Labs, LLC and DVDO categories. Its Mobile MHL transmitters convert digital video, audio and data into the MHL format supporting resolutions up to 4K with multi-channel audio over a low pin count, connector agnostic interface. Dual mode port processors featuring MHL and HDMI functionality are designed for CE products. Its 60GHz RF Transceiver products are designed for use in 4G LTE small cells and Metro Wi-Fi and fixed wireless broadband point-to-point links. SILICON LABORATORIES INC. (NASDAQ:SIMG) Recent Trading Information
SILICON LABORATORIES INC. (NASDAQ:SIMG) closed its last trading session at 7.28 with shares trading hands.
