Silicon Laboratories profits rise

Reuters reports that Silicon Laboratories "posted a better-than-expected fourth-quarter profit, on strong sales of devices used in mobile handsets." According to the article, "fourth-quarter net income rose 19 percent, to $15.3 million, or 27 cents a share, from year-earlier net income of $12.9 million, or 24 cents. Revenue rose 15 percent to $109.9 million from $95.5 million."

David Wu at Global Crown Capital said, "The market still likes exciting stories, and currently Silicon Labs is one of the exciting stories. The market likes good double-digit sequential growth."

Analysts said they were pleased with sales, including wire link products such as mobile handsets. Edward Snyder at Charter Equity Research said, "They posted upside to the quarter on strong wire link products, and their guidance for the next quarter is better than people were anticipating, significantly so."