Silicon Laboratories reports impressive results

Silicon Laboratories has come out with impressive revenue results as they gained from stronger sales of its computer chips used in mobile handsets and other communications devices.

The news itself helped the company gain in the stock market as the share prices were up by around 20%!

The results also managed to shock the market analysts who had predicted that the company would miss forecasts amid signs from other companies that the mobile handset market is softening.

Lehman Bros analyst Arnab Chanda went on to say in a note: “Negatives were already factored in. They beat the second-quarter by a fairly big amount.”

Interestingly, the company also manufactures chips for use in cable TV boxes and Internet modems. Silicon Laboratories posted second-quarter profit of 37 cents a share and the revenues for the company were up by 15 percent to $123.5 million.