Silicon Motion: Q3 Earnings Snapshot

HONG KONG (AP) — HONG KONG (AP) — Silicon Motion Technology Corp. (SIMO) on Wednesday reported third-quarter earnings of $10.6 million.

The Hong Kong-based company said it had net income of 32 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 63 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.

The chip company posted revenue of $172.3 million in the period.

For the current quarter ending in December, Silicon Motion said it expects revenue in the range of $190 million to $198 million.

_____

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