Wednesday, June 17, 2009

Silicon Laboratories Increases Estimates

Austin-based Silicon Laboratories reported this morning that the firm is increasing its quarterly earnings estimates, and expects its Q2 revenues to be between $101 and $105M, up from $92 to $97M forecast earlier. The firm said the revenue increase are a result of ramping new products, plus a "stronger rebound" in its Access and Audio Broadcast business versus prior expectations. The firm explained that visibility has "imporved considerably," saying that its bookings and shippings are "more consistent" with its historical norms. The semiconductor business was hit with a sudden and unexpected drop in business over the last few quarters due to the economic slowdown; Silicon Labs is one of a number of component firms which are now reporting better than expected results as business conditions have appeared to stabilize.