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Silicon Motion: 4Q Earnings Snapshot

HSINCHU COUNTY, Taiwan (AP) _ Silicon Motion Technology Corp. (SIMO) on Thursday reported fourth-quarter profit of $25.4 million.

The Hsinchu County, Taiwan-based company said it had net income of 73 cents per share. Earnings, adjusted for non-recurring costs, were 96 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.

The chip company posted revenue of $153.2 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $142.7 million.

For the year, the company reported profit of $64.4 million, or $1.82 per share. Revenue was reported as $457.3 million.

For the current quarter ending in April, Silicon Motion said it expects revenue in the range of $130 million to $138 million.

The company expects full-year revenue in the range of $539 million to $584 million.

Silicon Motion shares have declined 3.5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $48.94, an increase of 21% 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