Silicon Motion Q4 Profit Up; Sees Q1, 2020 Revenue Above View

(RTTNews) - Silicon Motion Technology Corp. (SIMO) reported that its fourth-quarter net income rose to $25.43 million or $0.73 per ADS from $15.1 million or $0.42 per ADS in the same period last year.

Non-GAAP net income increased to $33.8 million or $0.96 per ADS from $29.8 million or $0.82 per ADS in the prior year.

Quarterly GAAP revenue was $153.2 million, higher than $123.4 million reported a year ago. Non-GAAP revenue was $153.03 million versus $115.8 million last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.87 per share and revenues of $142.73 million for the fourth-quarter. Analysts' estimates typically exclude special items.

Looking ahead to the first quarter of 2020, the company expects revenue to be in the range of $130 million to $138 million. Analysts expect the company to report revenues of $122.05 million for the first-quarter.

The company projects revenue to be in the range of $539 million to $584 million for full year 2020. Wall Street currently is looking for 2020 revenues of $534.72 million.