Silicon Motion Announces Results for the Period Ended December 31, 2016


Silicon Motion Technology Corporation
Consolidated Statements of Income
(in thousands, except percentages, and per ADS data, unaudited)
  
   For the Year Ended
   Dec. 31, 2015 
( $)
  Dec. 31, 2016 
( $)
Net Sales  361,297   556,146 
Cost of sales  176,765   281,541 
Gross profit  184,532   274,605 
Operating expenses        
Research & development  71,161   92,405 
Sales & marketing  20,173   25,765 
General & administrative  15,714   17,072 
Amortization of  intangibles assets  1,051   2,103 
Operating income  76,433   137,260 
         
Non-operating expense (income)        
Gain on sale of investments  3   2 
Interest income, net  1,978   2,031 
Foreign exchange gain (loss), net  76   (692)
Impairment of long-term investments  -   (13)
Others, net  10   42 
Subtotal  2,067   1,370 
Income before income tax  78,500   138,630 
Income tax expense  18,249   27,690 
Net income     60,251       110,940  
                 
Earnings per basic ADS   $ 1.75     $ 3.15  
Earnings per diluted ADS   $ 1.73     $ 3.12  
                 
Margin Analysis:                
Gross margin     51.1 %     49.4 %
Operating margin     21.2 %     24.7 %
Net margin     16.7 %     20.0 %
                 
Additional Data:                
Weighted avg. ADS equivalents     34,525       35,230  
Diluted ADS equivalents     34,909       35,513  
                 

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