Silicon Motion Technology Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 03:30 am IST
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Silicon Motion Technology Corporation reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 172.33 million compared to USD 250.81 million a year ago. Net income was USD 10.59 million compared to USD 42.89 million a year ago. Basic earnings per share from continuing operations was USD 0.32. Diluted earnings per share from continuing operations was USD 0.32 compared to USD 1.28 a year ago.
For the nine months, sales was USD 436.76 million compared to USD 745.16 million a year ago. Net income was USD 31.78 million compared to USD 148.98 million a year ago. Basic earnings per share from continuing operations was USD 0.96 compared to USD 4.48 a year ago. Diluted earnings per share from continuing operations was USD 0.96 compared to USD 4.44 a year ago.
SILICON MOTION TECHNOLOGY CORPORATION is a provider of negative-AND (NAND) flash controllers for Solid State Drives (SSDs) and other solid state storage devices. The Company is mainly engaged in the design, development and sale of low-power semiconductor solutions for original equipment manufacturers (OEMs) and other customers in the mobile storage market. The Company is mainly engaged in the development of NAND flash controller integrated circuits (ICs) for solid-state storage devices, as well as specialty radio frequency (RF) ICs for mobile devices. In the mobile storage market, the Company's products are controllers used in SSDs, Embedded Multimedia Cards (eMMCs) and other embedded storage products, as well as flash memory cards, universal serial bus (USB) flash drives and other expandable storage products. The Company's products are used in smartphones, tablets, personal computers (PCs) and other devices.