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Silicon Motion Announces Results For The Period Ended December 31, 2012

Stocks in this article: SIMO

Fourth Quarter 2012

Financial Highlights

  • Net sales decreased 8% quarter-over-quarter to US$70.6 million from US$77.1 million in 3Q12
  • Gross margin (non-GAAP 1) decreased to 44.6% from 46.4% in 3Q12
  • Operating expenses (non-GAAP) increased to US$17.8 million from US$15.8 million in 3Q12
  • Operating margin (non-GAAP) decreased to 19.5% from 25.9% in 3Q12
  • Diluted earnings per ADS (non-GAAP) decreased to US$0.36 from US$0.54 in 3Q12

Business Highlights

  • Achieved US$281.4 million annual revenue and US$1.73 EPS (non-GAAP), both highest in our history
  • Began sampling our next generation, 55nm eMMC 4.5 controller and expect to enter mass production in the first quarter of 2013
  • Began sampling our fifth generation, single die GSM/EDGE/HSPA/LTE transceiver incorporating better performance and lower cost
  • Began shipping our LTE transceivers to support four new Samsung LTE smartphones launched in the Korean market in the first quarter of 2013
  • Expanded our eMMC wins beyond smartphones and tablets with new wins with two leading gaming consoles, as well as smart TVs and set-top boxes

TAIPEI, Taiwan, Feb. 5, 2013 (GLOBE NEWSWIRE) -- Silicon Motion Technology Corporation (Nasdaq:SIMO) ("Silicon Motion" or the "Company") today announced its financial results for the quarter ended December 31, 2012. For the fourth quarter of 2012, net sales decreased 8% quarter-over-quarter to US$70.6 million from US$77.1 million in the third quarter of 2012. Net income (non-GAAP) decreased in the fourth quarter to US$12.4 million or US$0.36 per diluted ADS from a net income of US$18.7 million or US$0.54 per diluted ADS in the third quarter of 2012.

Net income (GAAP) for the fourth quarter of 2012 decreased quarter-over-quarter to US$7.9 million or US$0.23 per diluted ADS from a net income of US$15.6 million or US$0.46 per diluted ADS in the third quarter of 2012.

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