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Silicon Laboratories' CEO Discusses Q1 2012 Results - Earnings Call Transcript

Our comments today will include forward-looking statements or projections that involve substantial risks and uncertainties. We base these forward-looking statements on information available to us as of the date of this conference call. This information will likely change over time.

By discussing our current perception of our market and the future performance of Silicon Laboratories and our products with you today, we are not undertaking an obligation to provide updates in the future. There are a variety of factors that we may not be able to accurately predict or control that could have a material adverse effect on our business, operating results and financial conditions. We encourage you to review our SEC filings that identify important factors that could cause actual results to differ materially from those contained in any forward-looking statements.

Also the non-GAAP financial measurements, which are discussed today, are not intended to replace the presentation of Silicon Labs' GAAP financial results. We are providing this information because it may enable investors to perform meaningful comparisons of operating results and more clearly highlight the results of core ongoing operations.

I would now like to turn the call over to Silicon Laboratories' Chief Executive Officer, Tyson Tuttle.

Paul V. Walsh

Thank you, Shannon. Good morning, everybody. We had a great quarter with strong results driving meaningful upside to both revenue and earnings. New product cycle momentum allowed us to overcome what is typically a weak seasonal first quarter. Revenue of $125.7 million was down only slightly from a strong fourth quarter we reported with the share gains in TV tuners and the ramp in touch surprising to the upside. While weakness in the telecom market and a general slowing in the consumer end market persisted, new design wins continue to propel our business.

I'm going to turn the call over to Paul to review the specifics for the quarter and then, I will provide some further commentary on the business and our Q2 outlook. Paul?

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