Silicon Motion Technology Corporation
Consolidated Statements of Income (in thousands, except percentages, and per ADS data, unaudited) | ||||
For the Nine Months Ended | ||||
Sep. 30, 2017
( $) |
Sep. 30,2018
( $) | |||
Net Sales | 387,239 | 406,962 | ||
Cost of sales | 199,332 | 208,252 | ||
Gross profit | 187,907 | 198,710 | ||
Operating expenses | ||||
Research & development | 74,107 | 71,353 | ||
Sales & marketing | 18,504 | 21,845 | ||
General & administrative | 11,887 | 12,236 | ||
Amortization of intangibles assets | 1,577 | 2,223 | ||
Operating income | 81,832 | 91,053 | ||
Non-operating expense (income) | ||||
Interest income, net | 2,710 | 4,205 | ||
Foreign exchange gain (loss), net | 289 | (606 | ) | |
Gain (loss) on equity-method investment | - | (303 | ) | |
Others, net | 14 | 154 | ||
Subtotal | 3,013 | 3,450 | ||
Income before income tax | 84,845 | 94,503 | ||
Income tax expense | 19,707 | 11,531 | ||
Net income | 65,138 | 82,972 | ||
Earnings per basic ADS | $1.83 | $2.30 | ||
Earnings per diluted ADS | $1.82 | $2.30 | ||
Margin Analysis: | ||||
Gross margin | 48.5 | % | 48.8 | % |
Operating margin | 21.1 | % | 22.4 | % |
Net margin | 16.8 | % | 20.4 | % |
Additional Data: | ||||
Weighted avg. ADS equivalents | 35,651 | 36,050 | ||
Diluted ADS equivalents | 35,867 | 36,147 | ||