(RTTNews) - Wireless connectivity chipmaker Silicon Laboratories Inc. (SLAB) on Tuesday reported first-quarter results, with net loss narrowing from last year, helped by higher revenues and improved margins.
Net loss for the quarter was $15.9 million, or $0.48 per share, compared with a loss of $30.5 million, or $0.94 per share, in the same period last year.
Revenue increased to $213.5 million from $177.7 million a year ago, driven by strong growth in industrial and commercial applications.
Adjusted income was $17.7 million, or $0.53 per share for the quarter.
Industrial & Commercial revenue rose 33% year-over-year, while Home & Life revenue increased 5%.
Silicon Labs has suspended forward guidance due to its pending acquisition by Texas Instruments.
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