The company has recently appointed Dr Manish Kothari to the IoT leadership team in India
Silicon Labs, a provider of silicon, software and solution has reported financial results for its fourth quarter ended second January 2021. The company’s revenue exceeded the top end of the guidance range at $242.9 million, up from $221.3 million in the third quarter.
It’s revenue for the full year was $886.7 million, up from $837.6 million in 2019. Fourth quarter GAAP and non-GAAP diluted earnings per share (EPS) were $0.20 and $0.84, respectively. Full year GAAP and non-GAAP diluted EPS were $0.28 and $3.01, respectively.
“Fourth quarter revenue set a record at $242.9 million resulting in 10% sequential growth and full year revenue grew 6% over 2019,” said Tyson Tuttle, CEO of Silicon Labs.
Tuttle added,”Our IoT products led the way with a second consecutive quarter of record revenue. We exited the year with momentum, and we are looking forward to an even stronger 2021.”
Silicon Lab’s IoT revenue increased to $147.4 million, up 11 per cent sequentially and 15 per cent year-on-year. Its Infrastructure and Automotive revenue increased to $95.5 million, up eight per cent sequentially and four per cent year-on-year.
The company has recently appointed Dr Manish Kothari to the IoT leadership team in India. Silicon Labs had established its Hyderabad location with the acquisition of Redpine Signals’ connectivity business in April 2020. The acquisition strengthened Silicon Labs’ position as the leading provider of IoT wireless solutions with the additions of extensive Wi-Fi 6 and Bluetooth Low Energy businesses, as well as a broad patent portfolio.
