Comments of Management
Commenting on the results, Shaike Orbach, President and CEO, said, “We are very excited to deliver another record quarter to close out a knock-out 2011, completing a 30% increase in revenues and 46% increase in net profit as compared with our record 2010 results. In fact, the Company’s strong positive momentum that we have developed over the last two years has doubled our revenues while tripling our net income, an undisputable confirmation of our value proposition for customers and the leverage inherent in our business model.”
Mr. Orbach continued, “We have good reason to project that we will continue to grow stronger than our high-growth target markets in 2012 and beyond. The segments that we sell into – especially the server and network appliance sectors being driven by cloud computing and virtualization – continue to develop rapidly, and our components are viewed as reliable, differentiated performance enhancers. We have a loyal, stable base of OEM customers, many of whom are global leaders in their industries, and we continue to add new names to the list. In addition, we continue to see ahead-of-plan growth for our strategic SETAC product lines, positioning us to enter even more deeply into the network appliance space. As a result, we believe that we are favorably positioned to continue growing rapidly in 2012 and beyond, and have never been more excited and confident about our long-term prospects.”
##Conference Call Details Silicom’s Management will host an interactive conference today, January 23 rd, at 9am Eastern Time (6am Pacific Time, 4pm Israel Time) to review and discuss the results. To participate, please call one of the following teleconferencing numbers. Please begin placing your calls at least 10 minutes before the conference call commences. If you are unable to connect using the toll-free numbers, try the international dial-in number.