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TAIPEI, Taiwan, July 2, 2013 (GLOBE NEWSWIRE) -- Silicon Motion Technology Corporation (Nasdaq:SIMO) ("Silicon Motion" or the "Company"), a global leader in designing and marketing NAND flash controllers for solid state storage devices and specialty RF IC solutions for mobile devices, announces that based upon its preliminary financial results, revenue for the second quarter is expected to be flat as compared to the revenue for the first quarter, below the company's original guidance issued on April 26, 2013, of up 5 to 10%. Gross margin (non-GAAP) is expected to be in the 47 to 49% range, above the company's guidance of 45 to 47%.
Commenting on the company's preliminary results, Silicon Motion's President and CEO, Wallace Kou, said:
"In the second quarter, we saw demand for our embedded controllers (eMMC) exceed our own expectations along with continuing strong OEM sales of our other controller products. However, with availability of NAND flash still tight for module makers, procurement of our card and USB flash drive controllers from these customers was lower than expected."
The Company will release its full second quarter 2013 results after the market closes on July 29, 2013. The Company will host a conference call on July 30, at 8 am Eastern Time, to discuss its results.
Wallace Kou, President & CEO
Riyadh Lai, CFO
Jason Tsai, Director of Investor Relations and Strategy
CONFERENCE CALL ACCESS NUMBERS:
USA (Toll Free):
1 866 519 4004
1 845 675 0437
Taiwan (Toll Free)
0080 112 6920
REPLAY NUMBERS (for 7 days):
USA (Toll Free):
1 855 452 5696
1 646 254 3697
This call will be webcasted on the Company's website at
www.siliconmotion.com . The webcast will also be distributed through the Thomson Reuters StreetEvents Network to both institutional and individual investors. Individual investors can listen to the call at
www.earnings.com , Thomson Reuters/CCBN's individual investor portal. Institutional investors can access the call via Thomson Reuters password-protected event management site, StreetEvents (
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 two major product lines, mobile storage and mobile communications. 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 primarily of handset transceivers and mobile TV IC solutions.