Silicon Motion Technology (SIMO) Tops Q1 EPS by 2c, Beats on Revenues; Offers FY18 Revenue Mid-Point Outlook Below Consensus

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.

Business Outlook

"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.”

GUIDANCE:

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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