Silicom Ltd (NASDAQ: SILC) reported Q1 EPS of $0.57, $0.04 better than the analyst estimate of $0.53. Revenue for the quarter came in at $19 million versus the consensus estimate of $18.79 million.

Commenting on the results, Mr. Shaike Orbach, Silicom’s President and CEO, said, “We are very pleased to report another quarter of solid growth and strategic progress in line with our long-term plan for the Company’s future development. During the quarter, all of our existing revenue streams continued to deliver as planned, reflecting steady shipments made to many of our over 90+ OEM customers.

“In addition, we were very excited to launch the first offering of our new SmartSilc VHIO product line, a family of totally unique solutions that we have planned for the growing virtualized data center market segment. Incorporating the advanced patent-pending technology that we acquired last October, the first SmartSilc VHIO product is an OpenStack-supporting offload solution that enables more VMs to fit onto each cluster, helping data centers boost network performance while reducing power consumption, space and cost. Discussions currently underway with key virtualized market players give us confidence regarding the potential for SmartSilc VHIO to develop into an important new revenue stream over time.”

Mr. Orbach concluded, “In addition, we have recently distributed our second yearly dividend in line with a policy aimed at sharing our success more directly with our shareholders. We are confident that the combination of a strong existing platform and exciting new products for fast-growing markets will enable us to continue creating shareholder value over the long-term.”

For earnings history and earnings-related data on Silicom Ltd (SILC) click here.