Silicon Motion Technology (SIMO) Tops Q1 EPS by 2c, Beats on Revenues; Offers FY18 Revenue Mid-Point Outlook Below Consensus
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Silicon Motion Technology (NASDAQ: SIMO) reported Q1 EPS of $0.71, $0.02 better than the analyst estimate of $0.69. Revenue for the quarter came in at $130.3 million versus the consensus estimate of $129.61 million.
"We believe our business outlook is increasingly more favorable, especially for our client SSD controller sales,” said Wallace Kou, President and CEO of Silicon Motion. “We currently have over 80% more client SSD controller projects with our NAND flash partners than at this time a year ago and currently anticipate our SSD controller sales to grow at least 20% for the full year.”
Silicon Motion Technology sees FY2018 revenue of $550-576 million, versus the consensus of $565.95 million.
For earnings history and earnings-related data on Silicon Motion Technology (SIMO) click here.
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