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Silicon Motion: 3Q Earnings Snapshot

HSINCHU COUNTY, Taiwan (AP) _ Silicon Motion Technology Corp. (SIMO) on Tuesday reported third-quarter profit of $4.2 million.

On a per-share basis, the Hsinchu County, Taiwan-based company said it had net income of 12 cents. Earnings, adjusted for non-recurring costs, came to 69 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.

The chip company posted revenue of $110.5 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $111.5 million.

For the current quarter ending in December, Silicon Motion said it expects revenue in the range of $133 million to $139 million.

Silicon Motion shares have risen 13% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $39, a climb of almost 7% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SIMO at https://www.zacks.com/ap/SIMO