SIMON.MX
Silicon Motion Technology Corporation News
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"title": "Silicon Motion Announces Results for the Period Ended March 31, 2024",
"description": "Business Highlights First quarter of 2024 sales decreased 6% Q/Q and increased 53% Y/Y SSD controller sales: 1Q of 2024 increased 0% to 5%...",
"keywords": "Nasdaq:SIMO, Silicon Motion Technology Corporation.",
"snippet": "Business Highlights\n\n\n\nFirst quarter of 2024 sales decreased 6% Q/Q and increased 53% Y/Y SSD controller sales: 1Q of 2024 increased 0% to 5% Q/Q and increased ...",
"url": "https://www.globenewswire.com/news-release/2024/05/02/2874798/9885/en/Silicon-Motion-Announces-Results-for-the-Period-Ended-March-31-2024.html",
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"published_at": "2024-05-02T22:00:00.000000Z",
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"highlight": "., May 03, 2024 (GLOBE NEWSWIRE) -- <em>Silicon</em> <em>Motion</em> <em>Technology</em> <em>Corporation</em> (NasdaqGS: SIMO) (“Silicon Motion”, the “Company” or “we”) today announced its financial results for the quarter ended March 31, 2024. For the first quarter of 2024, net sales (GAAP) decreased sequentially to $189.3 million from $202.4 million in the fourth quarter of 2023.",
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"highlight": "<em>Silicon</em> <em>Motion</em> <em>Technology</em> <em>Corporation</em>\n\nConsolidated Statements of Income\n\n(in thousands, except percentages and per ADS data, unaudited) For Three Months Ended Mar. 31, Dec. 31, Mar. 31, 2023 2023 2024 ($) ($) ($) Net Sales 124,069 202,379 189,311 Cost of sales 71,766 113,854 104,191 Gross profit 52,303 88,525 85,120 Operating expenses Research & development",
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"highlight": "ADS equivalents 33,176 33,416 33,508 Diluted ADS equivalents 33,381 33,587 33,701\n\n\n\n\n\n<em>Silicon</em> <em>Motion</em> <em>Technology</em> <em>Corporation</em>\n\nReconciliation of GAAP to Non-GAAP Operating Results\n\n(in thousands, except percentages and per ADS data, unaudited) For Three Months Ended Mar. 31, Dec. 31, Mar. 31, 2023 2023 2024 ($) ($) ($) Gross profit (GAAP) 52,303 88,525",
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"highlight": "earnings per diluted ADS (GAAP) 33,381 33,587 33,701 Non-GAAP adjustments 167 110 26 Shares used in computing earnings per diluted ADS (non-GAAP) 33,548 33,697 33,727 (A) Excludes stock-based compensation as follows: Cost of sales 135 106 72 Research & development 3,868 4,103 2,143 Sales & marketing 541 361 347 General & administrative 941 1,216 603\n\n\n\n\n\n<em>Silicon</em>",
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"highlight": "<em>Motion</em> <em>Technology</em> <em>Corporation</em>\n\nConsolidated Balance Sheet\n\n(In thousands, unaudited) Mar. 31, Dec. 31, Mar. 31, 2023 2023 2024 ($) ($) ($) Cash and cash equivalents 225,382 314,302 294,814 Accounts receivable (net) 145,772 194,701 186,154 Inventories 307,662 216,950 253,316 Refundable deposits – current 49,492 49,656 49,610 Prepaid expenses and other",
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"highlight": "tax payable 43,685 7,544 10,702 Accrued expenses and other current liabilities 55,644 149,680 135,425 Total current liabilities 134,702 212,810 210,937 Other liabilities 45,223 60,455 59,883 Total liabilities 179,925 273,265 270,820 Shareholders’ equity 748,273 734,696 753,456 Total liabilities & shareholders’ equity 928,198 1,007,961 1,024,276\n\n\n\n\n\n<em>Silicon</em>",
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"highlight": "<em>Motion</em> <em>Technology</em> <em>Corporation</em>\n\nCondensed Consolidated Statements of Cash Flows\n\n(in thousands, unaudited) For Three Months Ended Mar. 31, Dec. 31, Mar. 31, 2023 2023 2024 ($) ($) ($) Net income 10,150 21,093 16,016 Depreciation & amortization 5,608 5,356 5,608 Stock-based compensation 5,485 5,786 3,165 Investment losses (gain) & disposals (4,746 )",
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Other details
Exchange
- Mexican Stock Exchange
- equity
- N/A
- mx