UPDATE: Silicon Laboratories Reports 36% Drop In Q2 Profit

Silicon Laboratories Inc SLAB reported a 36% decline in its second-quarter profit. Silicon Laboratories reported its quarterly profit at $13.4 million, or $0.29 per share, down from $21 million, or $0.44 per share, in the year-ago period. Excluding certain items, the company's earnings came in at $0.48 per share. Silicon Labs in April expected earnings between $0.45 and $0.49 per share. Silicon Laboratories shares dipped 8.03% to $38.38 in pre-market trading.