Silicon Motion Tech (SIMO) Tops Q2 EPS by 9c, Offers Outlook

July 28, 2014 6:05 PM EDT
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Price: $87.94 +0.32%

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Silicon Motion Tech (NASDAQ: SIMO) reported Q2 EPS of $0.41, $0.09 better than the analyst estimate of $0.32. Revenue for the quarter came in at $69.4 million versus the consensus estimate of $62.9 million.

Business Outlook:

Silicon Motion's President and CEO, Wallace Kou, added:

"While we are pleased with our robust 2014 year-to-date performance and our expectations for the balance of this year, we are also looking forward to 2015 and are excited by our growing pipeline of SATA 3 client SSD and eMMC design-wins at major OEMs. We believe that we will increase our eMMC controller market share to 25% this year and have secured new programs with our NAND flash partners to drive strong continued eMMC growth next year. We now have one SSD OEM and two NAND flash partners with multiple new SSD program-wins that we believe will all start ramping in 1H 2015."

For the third quarter of 2014, management expects:

Revenue to increase 15% to 20% sequentially
Gross margin (non-GAAP) to be in the 50% to 52% range
Operating expenses (non-GAAP) of approximately US$21 to US$23 million

For the full year 2014, management expects:

Revenue to increase 22% to 27% year-over-year
Gross margin (non-GAAP) to be in the 49.5% to 51.5% range
Operating expenses (non-GAAP) of approximately US$78 to US$80 million

For earnings history and earnings-related data on Silicon Motion Tech (SIMO) click here.

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