Silicon Laboratories Reports Record Revenue

Silicon Laboratories Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

 
  Nine Months Ended
October 3,

2009

  October 4,

2008

Operating Activities
Net income $ 32,840 $ 26,611
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization of property, equipment and software 9,021 7,927
Loss (gain) on disposal of property, equipment and software 32 (15 )
Amortization of other intangible assets and other assets 5,924 5,118
Stock compensation expense 32,176 30,393
In-process research and development -- 10,250
Income tax benefit from employee stock-based awards 1,672 1,108
Excess income tax benefit from employee stock-based awards (1,378 ) (810 )
Deferred income taxes 626 339
Changes in operating assets and liabilities:
Accounts receivable (25,016 ) (5,838 )
Inventories (5,256 ) (1,367 )
Prepaid expenses and other assets 3,444 8,930
Accounts payable 5,656 (1,258 )
Accrued expenses 3,801 (6,922 )
Deferred income on shipments to distributors 10,367 965
Income taxes   4,246     5,654  
Net cash provided by operating activities 78,155 81,085
Investing Activities
Purchases of available-for-sale investments (182,039 ) (151,470 )
Proceeds from sales and maturities of available-for-sale investments 80,312 271,824
Proceeds from sales of trading securities 2,600 --
Purchases of property, equipment and software (6,991 ) (7,861 )
Proceeds from the sale of assets -- 14,265
Purchases of other assets (2,763 ) (4,828 )
Acquisitions of businesses, net of cash acquired   (2,800 )   (74,560 )
Net cash provided by (used in) investing activities (111,681 ) 47,370
Financing Activities
Proceeds from issuance of common stock 26,322 7,649
Excess income tax benefit from employee stock-based awards 1,378 810
Repurchases of common stock (12,325 ) (246,031 )
Repurchases of stock to satisfy employee tax withholding   (5,049 )   (3,980 )
Net cash provided by (used in) financing activities   10,326     (241,552 )
 
Decrease in cash and cash equivalents (23,200 ) (113,097 )
Cash and cash equivalents at beginning of period   172,272     264,408  
Cash and cash equivalents at end of period $ 149,072   $ 151,311  



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