Wednesday October 28, 01:01 PM
UPDATE 1-Silicon Laboratories Q3 results top Street
* Q3 adjusted EPS $0.67 vs est $0.60
* Q3 rev $125.9 mln vs est $123.8 mln
* Sees Q4 rev $124-$129 mln vs est $126.3 mln
Oct 28 (Reuters) - Chipmaker Silicon
Laboratories Inc posted quarterly results that beat Wall Street expectations, helped by better-than-expected demand for its chips used in FM radio tuners and ramp at its largest customer.
Silicon Laboratories (NASDAQ: SLAB - news) , whose major customers include Samsung , Huawei, LG Electronics (066570.KS - news) and Motorola (NYSE: MOT - news) , sees fourth-quarter revenue of $124 million to $129 million.
Analysts were expecting revenue of $126.3 million for the fourth quarter, according to Thomson Reuters I/B/E/S.
The company, whose competitors include Texas Instruments (NYSE: TXN - news) , Analog Devices Inc and Broadcom Corp, posted a third-quarter profit of $22.4 million, or 47 cents a share, compared with a net income of $1.2 million, or 2 cents a share, in the year-ago period.
Adjusting for exceptional items, profit was 67 cents a share.
Revenue rose 11 percent to $125.9 million.
For the third quarter, analysts on average were expecting earnings of 60 cents a share, on revenue of $123.8 million.
Shares of the Austin, Texas-based company closed at $41.38 Tuesday on Nasdaq (NASDAQ: news) .
(Reporting by Sudipto Ganguly in Bangalore; Editing by Ratul Ray Chaudhuri) Keywords: SILICONLABORATORIES/
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