Silicon Laboratories' CEO Presents At The Citi Technology Conference (Transcript)

Silicon Laboratories (SLAB)

Citi Technology Conference

September 06, 2012 11:00 am ET


Tyson Tuttle - President and Chief Executive Officer

Paul Walsh - Senior Vice President and Chief Financial Officer


Terrence Whalen - Citigroup


Good morning. Welcome to Citi's Technology Conference Day Three. I am Terrence Whalen. I am Citi's Specialty Semiconductor Analyst. It's a pleasure to have Silicon Labs here today with us. With us from Silicon Labs is CEO, Tyson Tuttle, and also CFO, Paul Walsh. Welcome.

I think that format this morning will be that Tyson will start with a brief 10 or 15-minute presentation. I have got a couple of questions as well, and then we'll make sure that we have adequate time for audience questions as well, so Tyson, welcome.

Tyson Tuttle

All right. Thank you very much. Thank you, everybody, for attending. Get right into it here. Silicon Labs is a highly diversified company for its size. We've got about $500 million revenue last year. We're about a $600 million year run rate now. We had a record quarter in Q2 and guided up to recorded quarter in Q3, so we're growth company. We target about 15% CAGAR, 62% gross margin, 25% operating income, so we're highly profitable, a lot of discipline around cost and around margins within the company and where really the growth is propelled by product cycle, so we have a lot of growth in the portfolio, we've been investing a lot in that and have got 80% of our product portfolio today is in growth mode, and the diversification is really centered around a lot of different types of products. We'll get into more of that in a little bit spread across communications industrial and consumer applications, so going after lots of different markets and we'll get into that.

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