This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Silicon Motion Announces Results For The Period Ended March 31, 2013

First Quarter 2013

Financial Highlights

  • Net sales decreased 19% quarter-over-quarter to US$57.4 million from US$70.6 million in 4Q12
  • Gross margin (non-GAAP 1) excluding one-time expenses and benefits was 44%
  • Gross margin (non-GAAP) decreased to 41% from 45% in 4Q12
  • Operating expenses (non-GAAP) decreased to US$15.6 million from US$17.8 million in 4Q12
  • Operating margin (non-GAAP) decreased to 14% from 20% in 4Q12
  • Diluted earnings per ADS (non-GAAP) decreased to US$0.17 from US$0.36 in 4Q12

Business Highlights

  • Secured design-win for our next-generation 55nm eMMC 4.5 controller from tier-1 smartphone OEM for global flagship and from tier-1Android tablet OEM—both to enter production in 2Q13
  • Began shipping our USB 3.0 controller to three leading OEMs in 1Q13
  • Won two tier-1 Japanese OEMs for our FerriSSD solution
  • Our SD UHS-1 high performance controller reached record high shipments in 1Q13
  • Won new tier-1 Japanese OEM for our SD UHS-1 high performance controller
  • Expect SM2246, our SATA3 SSD controller to enter commercial sampling in 2Q13

TAIPEI, Taiwan, April 26, 2013 (GLOBE NEWSWIRE) -- Silicon Motion Technology Corporation (Nasdaq:SIMO) ("Silicon Motion" or the "Company") today announced its financial results for the quarter ended March 31, 2013. For the first quarter of 2013, net sales decreased 19% quarter-over-quarter to US$57.4 million from US$70.6 million in the fourth quarter of 2012. Net income (non-GAAP) decreased in the first quarter to US$6.0 million or US$0.17 per diluted ADS from a net income of US$12.4 million or US$0.36 per diluted ADS in the fourth quarter of 2012.

Net income (GAAP) for the first quarter of 2013 decreased quarter-over-quarter to US$4.8 million or US$0.14 per diluted ADS as compared to a net income of US$7.9 million or US$0.23 per diluted ADS in the fourth quarter of 2012.

1 of 8

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,048.93 -22.29 -0.13%
S&P 500 1,969.75 -8.05 -0.41%
NASDAQ 4,487.3880 -18.4640 -0.41%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs