Silicon Motion Announces Results for the Period Ended September

Silicon Motion Announces Results for the Period Ended September 30, 2023

Unrealized holding loss (gain) on investments relates to the difference between market value and cost of long-term investments.


Silicon Motion Technology Corporation Consolidated Statements of Income (in thousands, except percentages and per ADS data, unaudited)

	For Three Months Ended						For the Year Ended
	Sep. 30,		Jun. 30,		Sep. 30,		Sep. 30,		Sep. 30,
	2022		2023		2023		2022		2023
	($)		($)		($)		($)		($)
Net Sales	250,812		140,361		172,333		745,163		436,763
Cost of sales	131,691		83,938		99,193		366,304		254,897
Gross profit	119,121		56,423		73,140		378,859		181,866
Operating expenses
Research & development	47,727		41,336		41,740		136,607		117,926
Sales & marketing	9,375		7,248		6,862		25,908		20,715
General & administrative	6,949		6,021		8,939		27,098		20,323
Loss from settlement of litigation	(300	)	-		591		400		591
Operating income	55,370		1,818		15,008		188,846		22,311
Non-operating income (expense)
Interest income, net	750		2,736		3,480		1,375		8,026
Foreign exchange gain (loss), net	(2,293	)	1,223		569		(4,318	)	2,030
Unrealized holding gain(loss) on investments	-		6,135		(2,828	)	-		8,053
Others, net	-		-		-		1		-
Subtotal	(1,543	)	10,094		1,221		(2,942	)	18,109
Income before income tax	53,827		11,912		16,229		185,904		40,420
Income tax expense	10,936		868		5,642		36,929		8,639
Net income	42,891		11,044		10,587		148,975		31,781

Earnings per basic ADS	1.30		0.33		0.32		4.47		0.95
Earnings per diluted ADS	1.29		0.33		0.32		4.45		0.95

Margin Analysis:
Gross margin	47.5	%	40.2	%	42.4	%	50.8	%	41.6	%
Operating margin	22.1	%	1.3	%	8.7	%	25.3	%	5.1	%
Net margin	17.1	%	7.9	%	6.1	%	20.0	%	7.3	%

Additional Data:
Weighted avg. ADS equivalents	33,050		33,409		33,413		33,325		33,332
Diluted ADS equivalents	33,140		33,438		33,471		33,448		33,431

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