This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Silicon Motion Announces Results For The Period Ended September 30, 2013

Stocks in this article: SIMO

Third Quarter 2013

Financial Highlights

  • Net sales decreased 2% quarter-over-quarter to US$57.1 million from US$58.3 million in 2Q13
  • Gross margin (non-GAAP 1) increased to 48.8% from 48.4% in 2Q13
  • Operating expenses (non-GAAP) decreased to US$14.9 million from US$16.8 million in 2Q13
  • Operating margin (non-GAAP) increased to 22.7% from 19.7% in 2Q13
  • Diluted earnings per ADS (non-GAAP) increased to US$0.32 from US$0.27 in 2Q13

Business Highlights

  • Introduced our new SM2246EN SATA III client SSD controller targeting PC SSDs, hybrid SSDs and NAND-cache storage solutions
  • Started initial sales of our SATA III client SSD controller to several module maker customers targeting both retail channels and local Chinese notebook OEMs
  • Introduced our new SM3267 ultra high-performance, cost-effective USB3.0 flash drive controller
  • Secured design-wins for SM3267 from most of our existing USB flash drive customers, including many top-tier global OEMs
  • Began production of new long-term Samsung UHS-1 microSD card program using its 19nm TLC NAND flash

TAIPEI, Taiwan, Oct. 25, 2013 (GLOBE NEWSWIRE) -- Silicon Motion Technology Corporation (Nasdaq:SIMO) ("Silicon Motion" or the "Company") today announced its financial results for the quarter ended September 30, 2013. For the third quarter of 2013, net sales decreased 2% quarter-over-quarter to US$57.1 million from US$58.3 million in the second quarter of 2013. Net income (non-GAAP) increased in the third quarter of 2013 to US$10.8 million or US$0.32 per diluted ADS as compared to a net income (non-GAAP) of US$9.2 million or US$0.27 per diluted ADS in the second quarter of 2013.

GAAP net income for the third quarter of 2013 increased quarter-over-quarter to US$9.6 million or US$0.29 per diluted ADS from a GAAP net income of US$7.5 million or US$0.22 per diluted ADS in the second quarter of 2013.

1 of 7

Select the service that is right for you!

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 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • 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