Silicon Motion Announces Preliminary Second Quarter 2010 Revenue

TAIPEI, Taiwan, July 8, 2010 (GLOBE NEWSWIRE) -- Silicon Motion Technology Corporation (Nasdaq:SIMO) (the "Company"), a leading fabless semiconductor company that designs, develops and markets semiconductor solutions for multimedia consumer electronics, today announced that expected revenue in the second quarter of 2010 will be stronger than the Company's previous outlook.

The Company expects revenue in the second quarter of 2010 to increase sequentially between 23% and 25%. This is a positive increase over the guidance previously provided by the Company in late April 2010 that revenue would be up 10% to 20% sequentially.

The Company expects second quarter 2010 gross margin excluding stock-based compensation to be in line with its previously communicated guidance of 46% to 48%.

"We are pleased that our Mobile Storage products continue to demonstrate better than expected strength as we leverage our leading-edge controller technology leadership and market share leadership in advanced NAND flash components to take advantage of increased NAND flash supply, specifically from the expanding availability of more advanced components. The first half of 2010 came in better than expected and we continue to believe that this is a year of gradual recovery for Silicon Motion," said Wallace Kou, President and CEO of Silicon Motion.

Silicon Motion is planning on releasing its unaudited second quarter 2010 results in the last week of July. Details on this as well as our earnings call will be provided in a separate announcement.

About Silicon Motion:

We are a fabless semiconductor company that designs, develops and markets high performance, low-power semiconductor solutions for the multimedia consumer electronics market. We have three major product lines: mobile storage, mobile communications, and multimedia SoCs. Our mobile storage business is composed of microcontrollers used in NAND flash memory storage products such as flash memory cards, USB flash drives, SSDs, and embedded flash applications. Our mobile communications business is composed of mobile TV IC solutions, CDMA RF ICs, and electronic toll collection RF ICs. Our multimedia SoCs business is composed of products that support notebook PC webcams and embedded graphics applications.