KOWLOON, Hong Kong (AP) _ Silicon Motion Technology Corp. (SIMO) on Wednesday reported fourth-quarter profit of $60.6 million.
On a per-share basis, the Kowloon, Hong Kong-based company said it had net income of $1.73. Earnings, adjusted for one-time gains and costs, were $1.90 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.77 per share.
The chip company posted revenue of $264.4 million in the period.
For the year, the company reported profit of $199.9 million, or $5.71 per share. Revenue was reported as $922.1 million.
For the current quarter ending in April, Silicon Motion said it expects revenue in the range of $225 million to $238 million.
The company expects full-year revenue in the range of $1.11 billion to $1.2 billion.
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
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