Silicon Motion Announces Second Quarter Results for the Period Ended June 30, 2008Tuesday, July 29th, 2008
TAIPEI, Taiwan — Silicon Motion Technology Corporation (Nasdaq:SIMO) (the “Company”) today announced its second quarter 2008 financial results. Second quarter net sales increased 2% year-over-year to US$48.6 million. GAAP net income decreased 78% year-over-year to US$2.0 million, or US$0.06 per diluted ADS, compared to US$0.27 per diluted ADS in the second quarter of 2007.
Commenting on the results, Silicon Motion’s President and CEO, Wallace Kou, said:
“Our mobile TV IC revenue increased over 31% this quarter. Our overall communications products now account for 21% of our total revenue. We continue to have the leading position in Korea, our home market for this business, and have a developing presence in China with local handset OEM customers that include ZTE and Amoisonic. We remain excited about our mobile TV business and believe we have one of the most comprehensive and competitive portfolios of mobile TV solutions, including for T-DMB, S-DMB, DVB-H, C-MMB, T-MMB, and ISDB-T standards, in the global market.”
Net sales of mobile communication products, which include mobile TV tuners, CDMA RF ICs, and electronic toll collection (ETC) RF ICs, increased 126% from the second quarter of 2007 to US$10.0 million for the second quarter of 2008 and increased 31% from the first quarter of 2008, primarily because of higher mobile TV IC sales.
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