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Silicon Laboratories Aligns Organization for Next Phase of Growth

^{Published on 2010-01-06 19:40:43 - Market Wire}
 

AUSTIN, Texas--([ BUSINESS WIRE ])--Silicon Laboratories Inc. (Nasdaq: SLAB), a leader in high-performance, analog-intensive, mixed-signal integrated circuits (ICs), today announced an organizational alignment to accelerate the adoption of its broad-based product lines and maximize the leverage of its world-class design team. The company believes the new structure will enhance collaboration between product lines enabling higher levels of differentiation, the development of system platforms that can be leveraged to accelerate new product introductions, and the creation of sales, support and design efficiencies, all with the ultimate goal of delivering market leading growth and profitability.

"As Silicon Labs nears the half billion dollar revenue mark, we are at a phase in our growth cycle where proactively aligning our business will allow us to accomplish three key goals"

"As Silicon Labs nears the half billion dollar revenue mark, we are at a phase in our growth cycle where proactively aligning our business will allow us to accomplish three key goals," said Necip Sayiner, president and CEO of Silicon Laboratories. "We want to maximize our ability to deliver differentiated products to market quickly, we want to capitalize on growing synergies within our diversifying portfolio to aggressively capture more market share, and we expect to create resource efficiencies to preserve our margins while sustaining investments in our business. I firmly believe the organizational changes we're making will pave the way to further enhance our ability to outperform the industry."

The new organizational structure aligns Silicon Labs' short range wireless products, human interface products and isolation products within the power business with the company's microcontroller (MCU) products under a new Embedded Mixed-Signal product group. The existing product line general managers will report to Mark Thompson, who was previously the vice president and general manager of the MCU products.

Consistent with the objective of creating more highly differentiated products and bringing them to market faster, the company's IC design teams will be centralized under Tyson Tuttle as the newly appointed chief technical officer.

Dave Bresemann, a veteran Silicon Labs vice president and general manager, will assume Mr. Tuttle's role as vice president and general manager of Broadcast products, including the audio and video product lines.

Mr. Bresemann will be replaced as vice president of the Wireline products by his general manager of modem and voice products, Carlos Garcia, who will now also be responsible for the power over Ethernet and timing products to take advantage of end market and customer synergies in networking applications.

"We have a very strong management team, which allows us to move forward confidently with this new chapter in Silicon Labs' growth. We've been successful in timing our strategic moves to take advantage of inflection points in the business, and I believe this is another example of our focus to take the business to the next level of performance," Mr. Sayiner added.

About Silicon Laboratories Inc.

Silicon Laboratories is an industry leader in the innovation of high-performance, analog-intensive, mixed-signal ICs. Developed by a world-class engineering team with unsurpassed expertise in mixed-signal design, Silicon Labs' diverse portfolio of highly-integrated, easy-to-use products offers customers significant advantages in performance, size and power consumption. These patented solutions serve a broad set of markets and applications including consumer, communications, computing, industrial and automotive.

Headquartered in Austin, TX, Silicon Labs is a global enterprise with operations, sales and design activities worldwide. The company is committed to contributing to our customers' success by recruiting the highest quality talent to create industry-changing innovations. For more information about Silicon Labs, please visit [ www.silabs.com ].

Forward-Looking Statements

This press release contains forward-looking statements based on Silicon Laboratories' current expectations. The words "believe," "estimate," "expect," "intend," "anticipate," "plan," "project," "will," "guidance" and similar phrases as they relate to Silicon Laboratories are intended to identify such forward-looking statements. These forward-looking statements reflect the current views and assumptions of Silicon Laboratories and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Among the factors that could cause actual results to differ materially from those in the forward-looking statements are the following: risks that Silicon Laboratories may not be able to maintain its historical growth; quarterly fluctuations in revenues and operating results; volatile stock price; average selling prices of products may decrease significantly and rapidly, dependence on a limited number of products and customers; difficulties developing new products that achieve market acceptance; risks that Silicon Laboratories may not be able to manage strains associated with its growth; dependence on key personnel; difficulties managing our manufacturers and subcontractors; difficulties managing international activities; credit risks associated with our accounts receivable; geographic concentration of manufacturers, assemblers, test service providers and customers in the Pacific Rim that subjects Silicon Laboratories' business and results of operations to risks of natural disasters, epidemics, war and political unrest; product development risks; inventory-related risks; intellectual property litigation risks; risks associated with acquisitions and divestitures; the competitive and cyclical nature of the semiconductor industry and other factors that are detailed in Silicon Laboratories' filings with the SEC. Silicon Laboratories disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Note to editors: Silicon Laboratories, Silicon Labs and the Silicon Labs logo are trademarks of Silicon Laboratories Inc. All other product names noted herein may be trademarks of their respective holders.