Silicon Laboratories (NASDAQ:SLAB) is back on track. After falling alongside everyone else in 2008, the plucky chip designer (silicon, not potato) has risen to new all-time highs in sales and profits, and it looks like smooth sailing ahead.

Fourth-quarter sales grew 28% year over year to $127 million, while non-GAAP earnings shot up to $0.66 per share. Things look even brighter on the GAAP side of the street, but that's mostly thanks to a one-time tax credit that added $0.40 per share to the bottom line.

The company is busy promoting new TV tuners to makers of handsets and set-top boxes around the world. A typical seasonal pullback from Silicon Labs' large customer Samsung was more than counterbalanced by new contracts and ramp-ups elsewhere. The company didn't name the boosters specifically, but major customers include other multinational giants like Panasonic (NYSE:PC), Philips (NYSE:PHG), and Motorola (NASDAQ:MOT).

Silicon Labs recently realigned its divisions into a simpler and more cross-functional structure, hoping to extract cost-saving and innovation-boosting synergies from the new structure. I have a feeling that the company's advanced TV tuner chips could make their way into a number of mobile gadgets this year, which opens up whole new markets. The Apple (NASDAQ:AAPL) iPad won't ship with a TV tuner (among other missing features), but other mobile and tablet designers like Nokia (NYSE:NOK) or Hewlett-Packard (NYSE:HPQ) might get it right -- and then Silicon Labs will be ready to power the mobile media magic. At this year’s CES, we witnessed Cydle’s tablet featuring a TV tuner; could larger manufacturers be far behind?

Do you think we'll see TV tablets (with Silicon Labs tuners inside) this year or next -- or not at all? Open your heart (gently) in the comment box below.

Fool contributor Anders Bylund holds no position in any of the companies discussed here. He does believe that designer potato chips could catch on if only given a chance. Nokia is a Motley Fool Inside Value pick. Apple and Silicon Laboratories are Motley Fool Stock Advisor selections. Try any of our Foolish newsletters today, free for 30 days. You can check out Anders' holdings and a concise bio if you like, and The Motley Fool is investors writing for investors.