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S SILICON LABS Silicon Labs Announces Record Quarterly Revenue April 28 , 2021 11:00 AM EDT -- Record loT Revenue Affirms Pure - Play Focus on Massive IoT Opportunity -- AUSTIN , Texas , April 28 , 2021 / PRNewswire / -- Silicon Labs ( NASDAQ : SLAB ) , a leading provider of silicon , software and solutions for a smarter , more connected world , today reported financial results for its first quarter ended April 3 , 2021. Revenue exceeded the top end of our initial guidance at $ 255.5 million , up from $ 242.9 million in the fourth quarter . First quarter GAAP and non - GAAP diluted earnings per share ( EPS ) were $ 0.29 and $ 0.91 , respectively . S SILICON SILICON LABS " Despite significant supply constraints , strong bookings and durable demand momentum drove first quarter revenue to a new record of $ 255.5 million led by record revenue in IoT which grew 7 % sequentially and 34 % year - on - year , " said Tyson Tuttle , CEO of Silicon Labs . " We continue to lead the market in wireless connectivity for a vast array of intelligent solutions . Last week's announcement to become a pure - play leader of intelligent , wireless connectivity for the loT coupled with the global economic recovery from the pandemic fuels our excitement to capitalize on the massive growth opportunity in front of us . " First Quarter Financial Highlights • IoT revenue increased to $ 158.2 million , up 7 % sequentially and 34 % year - on - year . • Infrastructure and Automotive revenue increased to $ 97.3 million , up 2 % sequentially and flat year - on - year . On a GAAP basis : • GAAP gross margin was 58.9 % . • GAAP R & D expenses were $ 76 million . • GAAP SG & A expenses were $ 52 million . • GAAP operating income as a percentage of revenue was 8.7 % . • GAAP diluted earnings per share was $ 0.29 . On a non - GAAP basis , excluding the impact of stock compensation , amortization of acquired intangible assets , restructuring charges , non - cash interest expense and other costs associated with convertible notes , and certain other items as set forth in the reconciliation tables below : • Non - GAAP gross margin was 59.1 % . • Non - GAAP R & D expenses were $ 61 million . • Non - GAAP SG & A expenses were $ 42 million . • Non - GAAP operating income as a percentage of revenue was 18.7 % . • Non - GAAP diluted earnings per share were $ 0.91 . Product Highlights • Announced the extension of its award - winning xG22 platform with the launch of the EFM32PG22 ( PG22 ) , a new low - cost high performance 32 - bit microcontrollers ( MCUs ) . The PG22 has an industry - leading combination of energy efficiency , performance and security ideally suited for rapid development of consumer and industrial applications with demanding size constraints and low power operational requirements . The PG22 is targeted at high volume , low - powered applications at a price point competitive with 8 - bit offerings and which is form factor & code compatible with its wireless counterparts . TM • Introduced new SmartClock ™ features to its family of AEC - Q100 qualified Si5332 - AM clock