Other Financial Information
| (in millions) |
3Q 2024
|
2Q 2024
|
3Q 2023
| ||||||
| Cash, cash equivalents, restricted cash and short-term investments—end of period | $368.6 | $343.6 | $350.3 | ||||||
| Routine capital expenditures | $7.4 | $6.3 | $6.3 | ||||||
| Dividend payments | $16.8 | $16.8 | -- | ||||||
During the third quarter of 2024, we had $12.4 million of capital expenditures, including $7.4 million for the routine purchase of testing equipment, software, design tools and other items, and $5.0 million for building construction in Hsinchu.
Business Outlook
“Looking ahead, we expect to experience gains from greater outsourcing by our NAND flash maker partners, which should continue to deliver revenue and profitability growth for the company,” said Wallace Kou, President and CEO of Silicon Motion. “In the current quarter, we are introducing two key new controllers, including our first AI/enterprise server MonTitan controller and our first PCIe Gen 5.0 client SSD controller, placing Silicon Motion in an exceptionally strong position entering calendar 2025. While the seasonal holiday demand is expected to be more muted than in past years, we are confident that our highly differentiated controller solutions for PCs, smartphones and now enterprise-class storage controllers will further strengthen our market leadership position and will build on our foundation for strong, sustainable long-term growth."
For the fourth quarter of 2024, management expects:
| ($ in millions) | GAAP | Non-GAAP Adjustment | Non-GAAP |
| Revenue | $191 to $202
-10% to -5% Q/Q -6% to 0% Y/Y | -- | $191 to $202
-10% to -5% Q/Q -6% to 0% Y/Y |
| Gross margin | 46.3% to 47.4% | Approximately $0.3* | 46.5 % to 47.5% |
| Operating margin | 8.0% to 9.9% | Approximately $13.4 to $14.4** | 15.6% to 16.6% |
