Silicon Labs 4Q profit slips but beats forecasts

AUSTIN, Texas (AP) ? Chip maker Silicon Laboratories Inc. on Wednesday reported higher-than-expected profit as sales rose for video and touch controllers and other devices.

The company said net income was $12.8 million, or 29 cents per share. Excluding special items such as stock-based compensation expenses, the company said it would have earned 49 cents per share.

Analysts expected earnings excluding items would be 43 cents per share, according to FactSet.

The company’s profit was down slightly from last year’s fourth quarter, when it earned $12.9 million, or 28 cents per share.

Revenue rose 13 percent to $126.7 million, above analysts’ forecast of $119.8 million.

For the current quarter ending in March, the company predicted revenue between $120 million and $125 million, or more than the $118.4 million average estimate by analysts.

The company’s shares fell 30 cents to end Wednesday at $46.77.