Silicon Motion Announces Results for the Period Ended September 30, 2016

    
Silicon Motion Technology Corporation
Consolidated Statements of Income
  (in thousands, except percentages, and per ADS data, unaudited)
    
    For the Nine Months Ended
 
    Sep. 30, 2015
( $)
     Sep. 30,2016
( $)
 
Net Sales   263,256     411,948 
Cost of sales   127,737     209,461 
Gross profit   135,519     202,487 
Operating expenses    
Research & development   51,876     66,367 
Sales & marketing   14,037     20,114 
General & administrative   10,710     12,024 
Amortization of  intangibles assets   526     1,577 
Operating income   58,370     102,405 
     
Non-operating expense (income)    
Gain on sale of investments   2     1 
Interest income, net   1,523     1,407 
Foreign exchange gain (loss), net   599     (803)
Others, net   8     47 
Subtotal       2,132           652  
Income before income tax       60,502           103,057  
Income tax expense       13,635           18,274  
Net income       46,867           84,783  
         
Earnings per basic ADS     $ 1.36         $ 2.41  
Earnings per diluted ADS     $ 1.35         $ 2.39  
         
Margin Analysis:        
Gross margin       51.5 %         49.2 %
Operating margin       22.2 %         24.9 %
Net margin       17.8 %         20.6 %
         
Additional Data:        
Weighted avg. ADS equivalents       34,408           35,198  
Diluted ADS equivalents       34,782           35,476  
                       



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