Silicon Laboratories announced its Q3 results, which exceeded analysts’ expectations. The company reported an EPS of 43 cents, compared to analysts’ estimates of 30 cents per share. Further, the revenue increased by 21 percent to $87.9 million, while the analysts had estimated revenue of $82.9 million. The increase in the earnings included a tax benefit of 7 cents per share, which was credited in the quarter. The company also issued its Q4 guidance with revenue estimate of $93-97 million, while the analysts estimate revenue of $89.9 million.
Silicon Laboratories announced an agreement with NXP Semiconductors (NXP) to sell its Aero Product Lines for $285 milllion.